Queensland strata market ‘close to failure’, says NIBA
20 February 2012
National Insurance Brokers Association CEO Dallas Booth has admitted the northern Australian strata insurance market is close to “market failure”…
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Insurers differ on claims over Air Australia collapse
20 February 2012
The number of airline passengers stranded without insurance cover after the collapse of Air Australia isn’t yet known, with some travel insurers not providing financial default cover for the airline’s…
Wellington earthquake would cost $NZ37 billion
20 February 2012
Wellington residents have been told they need to focus on earthquake resilience over the next decade, with a major earthquake estimated to cost around $NZ37 billion ($29 billion)…
Business interruption cover rare in regional Australia
20 February 2012
A quarter of small businesses in rural and regional Australia would not survive a short-term closure, according to new research…
In Insurance News (the magazine):
20 February 2012
For some insurers the catastrophes of 2011 have become the disasters of 2012, with investors demonstrating their disappointment…
Floods to cost insurers ‘tens of millions’
13 February 2012
Insurers anticipate claims from flooding in Queensland and NSW will cost “tens of millions of dollars”, according to the Insurance Council of Australia…
Brokers under fire over strata business
13 February 2012
Brokers have come under fire for not looking at strata buildings they are selling policies on…
Historic strata pricing under fire
13 February 2012
Strata insurers have had to defend their claim that policies for buildings in northern Queensland were not knowingly underpriced in the past…
Reinsurers controlling north Queensland property market
13 February 2012
Reinsurance is keeping insurers out of the northern Queensland strata market, a broker claims…
Christchurch earthquakes: assessments on damaged land to start
13 February 2012
New Zealand’s Earthquake Commission and private insurers will begin technical assessments next month on 8000-10,000 Christchurch homes with foundation damage…
New Zealand considers safety-rating buildings
13 February 2012
New Zealand buildings could be subjected to a rating system that would provide a simple guide to building safety in an earthquake…
Companies withdrawing credit terms, risk losing orders
13 February 2012
Businesses have tightened up on the credit terms they offer customers but risk losing them as a result, a survey by trade credit insurer Coface has found…
Property rates rising, with tougher restrictions: Marsh
06 February 2012
Property rates increased by 8-15% across all classes of risk last year, Marsh says in its 2012 Pacific Market Insurance Report…
Rates stable despite cost pressures: JP Morgan/Deloitte
06 February 2012
Large increases in commercial and domestic property premiums are the major features of an otherwise stable insurance market outlook, according to the latest premium data…
Too early to tell costs of latest Queensland floods
06 February 2012
Insurers have received the first few thousand claims from flooding in southwest Queensland, but an early estimate on costs to insurers won’t be available until next week…
Consumer backlash on compulsory flood cover
06 February 2012
A consumer backlash has started against insurers who have introduced compulsory flood cover…
Strata commissions under the spotlight
06 February 2012
A Queensland property-owner has questioned the number of people receiving commissions for arranging insurance on a property…
Call for government intervention on strata insurance
06 February 2012
A body representing strata owners has called for a state-owned insurer like the Territory Insurance Office to be set up in Queensland…
Competition keeps premium rates soft
06 February 2012
Australian insurers are flagging premium increases, but data from the Insurance Council of Australia shows they were struggling to ramp up prices in the September 2011 quarter…
Spike in vehicle thefts reverses
06 February 2012
The total number of motor vehicle thefts fell 6% to 13,629 across Australia in the September 2011 quarter…