Electricity company blamed for fire
12 September 2011
Changing power line inspection periods to five years created an unacceptable fire risk that led to a bushfire, the Victorian Supreme Court has heard…
Local
$NZ2 billion to upgrade NZ buildings, earthquake inquiry told
12 September 2011
A technical report for the Canterbury Earthquakes Royal Commission says all unreinforced masonry buildings in New Zealand should be reinforced, at a cost of around $NZ2 billion ($1.57 billion)…
Police reveal WA fire ban bungle
12 September 2011
A conviction against a Perth man who started a fire in a national park last summer will be reviewed after investigations revealed the state’s fire service didn’t have the authority to declare a total…
Claims and renewals top key performance indicators
12 September 2011
The three top key performance indicators for the insurance industry are claims processing time, policy renewal rates and insurance underwriting time, according to a management consultant Eab Group…
Youth rehabilitation key to reducing thefts
12 September 2011
Australia’s peak car theft reduction body is ramping up its efforts to rehabilitate young thieves in a bid to bring down the level of short-term thefts…
Logging increases fire risk
12 September 2011
Victorians are being warned to prepare for bigger and more intense firestorms than those experienced on the 2009 Black Saturday bushfires, with continued “salvage logging” in forest areas increasing…
General insurance brokers won’t escape FOFA
05 September 2011
Brokers will be facing new regulations to ensure they act in the best interest of their clients under the draft Future of Financial Advice Bill…
Brokers fear Victoria will retain FSL
05 September 2011
Regional Victorian brokers are calling on the State Government to justify its decision to raise the fire services levy on insurance by 30% amid growing fears it will go back on its pre-election pledge to…
Flood claims will take another year to finish
05 September 2011
The Insurance Council of Australia says while more than half of the Queensland flood and Cyclone Yasi claims have been settled, it could take another 12 months to finalise the rest…
Claims cost $12.3 billion more this year
05 September 2011
Claims in the Australian general insurance industry leapt to $35.9 billion for the year to June 30, up from $23.6 billion in the previous year, the Australian Prudential Regulation Authority’s quarterly…
NZ court sides with insurers on earthquake cover
05 September 2011
The New Zealand Earthquake Commission will bear a higher proportion of claims from the Canterbury earthquakes after the country’s High Court ruled the EQC must cover households for every…
NZ Minister takes his case to Monte Carlo
05 September 2011
New Zealand Earthquake Recovery Minister Gerry Brownlee will lead a delegation to the annual Reinsurance Rendezvous in Monaco this month to argue his country’s case for insurance…
Fraud spikes despite crackdown
05 September 2011
Australian insurers are still facing a spike in the number of major fraud cases appearing before the courts, despite fraudsters increasing their focus on the investment sector, according to a KPMG study…
ICNZ chief praises industry’s earthquake response
05 September 2011
Insurance Council of New Zealand President John Lyon says the industry has responded well to the Canterbury earthquakes…
Woolworths steps into insurance
29 August 2011
Supermarket giant Woolworths has followed rival retailer Coles into the insurance market in a new partnership with Swiss Re and Hollard Insurance…
Doyle: Market needs to respond to reputation concerns
29 August 2011
Insurers need to develop liability lines that meet the concerns of local businesses, the Australian Professional Indemnity Group national conference has been told…
Reinsurance rate rises may affect liability lines
29 August 2011
The rising cost of reinsurance could begin to put upwards pressure on primary casualty rates, particularly where the reinsurance program is linked to property, an industry conference has been…
Christchurch earthquake: Insurers blamed for delays
29 August 2011
Continuing aftershocks in the Canterbury region are preventing insurers from taking on new risk and causing delays to rebuilding work…
Cairns broker denies forced sale
29 August 2011
A Cairns broker denies a recent court case is linked to his decision to sell his business to Far North Insurance Brokers…
Midwives face PI shortfall
29 August 2011
Medical Insurance Group Australia is calling for clarification over whether private midwives accompanying their patients to public hospitals are considered to be providing a continuation of care…