‘Bush ignored’ in response to flood cover review
18 July 2011
Wesfarmers Insurance says that the current government review into flood insurance has failed to address rural and regional issues…
Local
Rational thought vital for flood debate
18 July 2011
A leading economist has called for “rational thinking” in the debate over flood insurance and the proposal to offer discounted rates for high-risk areas…
Victorian disaster inquiry warns of further flooding
18 July 2011
The potential for more flooding in Victoria cannot be ignored, with dams at or near capacity providing limited flood mitigation capacity, a report into the state’s summer flood disaster has warned…
NZ reinsurance rises ‘aren’t temporary’
18 July 2011
The New Zealand insurance market is going through a “fundamental and significant shift” to permanently higher premiums, according to Lumley NZ CEO John Lyon…
NZI, Lumley, QBE rated tops in quake response survey
18 July 2011
Canterbury brokers surveyed on insurers’ response to the Christchurch earthquakes have ranked NZI, QBE and Lumley as the best-performing companies…
Earthquake group wants input on recovery strategy
18 July 2011
The Canterbury Earthquake Recovery Authority has called for community input into developing its earthquake recovery strategy…
Customers seek human interaction
18 July 2011
The insurance industry needs to move with the times and offer cross-transactional options to customers to cater for the shift from a buyers’ to a sellers’ market, according to a new survey…
ICA to push market-based flood cover solution
11 July 2011
The Insurance Council of Australia will propose a premium rebate scheme exclusively for properties at high risk of flood when it submits its response to the Natural Disaster Insurance Review…
Hearings put insurers in the hot seat
11 July 2011
The Queensland Floods Commission of Inquiry has announced a second round of public hearings, which will focus on the insurance industry’s response to the disaster as well as planning issues…
Chartis grounds Tiger’s travel insurance
11 July 2011
Chartis has stopped selling travel insurance on behalf of grounded Tiger Airways…
Australian and NZ premiums report modest growth: Swiss Re
11 July 2011
General insurance premiums in Australia and New Zealand rose by 2% to $US42 billion ($39 billion) in 2010, according to a new report by Swiss Re…
Centro case a wake-up call for D&O insurers
11 July 2011
Directors’ and officers’ insurers have been advised to look carefully at the recent court case judgement against former directors of the failed Centro property group…
EQC faces legal action as payments pass $NZ1 billion
11 July 2011
New Zealand’s Earthquake Commission expects it has received all claims for the most severe damage from the Christchurch earthquakes after paying out over $NZ1 billion ($778 million) since…
Flood: Government announcement on standard definition imminent
04 July 2011
The Federal Government is expected to reveal its standard flood definition “very soon” following industry agreement on a definition, the Insurance Council of Australia has told…
Rates: Insurers ignore temptation to raise premiums
04 July 2011
Competition is keeping a lid on premium rises during the June 30 renewals period, according to brokers…
Australia-NZ reinsurance costs up as market in transition
04 July 2011
Reinsurance rates in the Australia-New Zealand market increased between 20-100% in the June renewals, according to a report by risk and reinsurance specialist Guy Carpenter…
Another council considers relocations for flood-prone properties
04 July 2011
Moreton Bay Regional Council is considering introducing a buyback scheme for properties that regularly flood…
NSW floods cost local economy around $35 million
04 July 2011
Insurance claims from the NSW mid-north coast floods have fuelled more complaints about flood definitions…
Australian insurers earn $18 billion from overseas sales
04 July 2011
Australian insurers with overseas operations achieved a total of $18 billion of sales during the 12 months ending June 2010…
Share the load for bushfires, WA told
04 July 2011
Perth residents must take shared responsibility for bushfire risk management, according to an investigation into the fires that swept through the state’s eastern suburbs in February…