New NTI group digs down into safety research
29 August 2011
Truck insurance specialist underwriter National Transport Insurance has appointed a new advisory board to assist its accident research centre in finding practical road safety solutions…
Local
Correction: Centro case
29 August 2011
An article in the Newsmakers section of the August/September edition of Insurance News (the magazine) said two Centro directors found guilty in a prosecution under the Corporations Act…
Fire levy rockets as Victoria delays phase-out
22 August 2011
The Victorian Government’s fire services levy on rural and regional property insurance has risen 30%, with country brokers warning the rise comes on top of significant increases in farm and home…
Queensland’s flood inquiry offers anonymity
22 August 2011
Queenslanders have been offered anonymity in a bid to get them to speak out about their experiences with insurers during this year’s floods, as part of the second stage of the Queensland Floods…
Risk and complacency a recipe for disaster
22 August 2011
Victorians need to stop being complacent and take notice of risk factors associated with their homes and businesses, according to an expert panel on natural disasters…
Christchurch earthquake: Large slice of township beyond repair
22 August 2011
The New Zealand Government will offer to buy about 1000 properties in the Canterbury township of Kaiapoi, around one in five homes, after finding the land underneath them cannot be remediated…
Christchurch earthquake: Business rates insurance response as ‘poor’
22 August 2011
More than 40% of Christchurch businesses have told a survey that their insurers’ responses to earthquake claims have been either “poor” or “very poor”…
Hackers threaten SME businesses
22 August 2011
SMEs need to invest more heavily in security to protect themselves against a growing incidence of website hacking, according to a software security expert…
NZ insurers await thousands of claims from polar blast
22 August 2011
The Insurance Council of New Zealand expects thousands of claims to be triggered by the polar blast that brought snowstorms to much of New Zealand last week…
Australia underpricing D&O liability, says Zurich
15 August 2011
Claims exceed premiums from directors’ and officers’ liability policies in Australia, but the market will remain soft due to the amount of competition, says Zurich’s Global Chief Underwriting Officer for…
Directors argue for defence from insolvent trading laws
15 August 2011
Directors can be forced to put their company into administration prematurely to avoid being held personally liable for trading while insolvent, according to the Australian Institute of Company…
Dam gauge failures hampered water release
15 August 2011
Reducing water levels in the Wivenhoe Dam could have lowered flood damage during the Brisbane flood crisis, but a lack of adequate information hampered releases, according to two new reports…
S&P maintains NZ Earthquake Commission ratings
15 August 2011
Standard & Poor’s has affirmed the New Zealand Earthquake Commission’s AAA financial strength and issuer credit ratings, with a stable outlook…
HIH collapse wasn’t due to industry failings: Wilkins
15 August 2011
The HIH collapse in March 2001 was due to poor management and not systemic risk in the insurance industry, IAG CEO Michael Wilkins says…
RACQ turnaround on flood claims
08 August 2011
RACQ Insurance has approved the flood claims of 247 customers who had previously been rejected after it received new hydrological information from Brisbane City Council…
ICA rejects disaster chief’s criticism
08 August 2011
The Insurance Council of Australia has rejected criticism that the industry has refused requests from the Queensland Reconstruction Authority for data to help the post-disaster recovery…
Brokers and insurers agree – the hard market is coming
08 August 2011
Despite a relatively uneventful June 30 renewals period, major brokers and insurers remain convinced the market will harden…
Mobile the way to go for insurers: Telstra
08 August 2011
Mobile phone technology will deliver simpler, more customised options for insurers, according to Telstra…
NZ rates up as underwriters shift focus
08 August 2011
Brokers say that despite ongoing rate rises in the Christchurch region and little capacity to write new business, the New Zealand industry is now heading in the right direction as underwriters move from…
In Insurance News (the magazine) this month
08 August 2011
The insurance industry has come under fire from governments and consumers over flooding, but the latest edition of Insurance News (the magazine), examines the considerable work the industry is…