Rates to rise, but how much isn’t certain
20 June 2011
IAG and QBE are talking up premium increases, but speculation still remains over exactly how high the rises might be…
Local
Christchurch earthquake: infrastructure risk rejected
20 June 2011
New Zealand’s local authority insurer is having difficulty getting enough reinsurance for damage to underground infrastructure in the country following the Christchurch earthquakes…
Travel insurers to cover volcanic ash disruptions
20 June 2011
Travel disruptions last week caused by the volcanic ash cloud across Australia and New Zealand from Chile’s Puyehue Cordon Caulle volcano will be covered under most travel insurance policies…
Insurance Council monitors NSW floods
20 June 2011
The Insurance Council of Australia says it is monitoring last week’s flooding along the NSW coast, but so far there has not been a large number of claims…
In Insurance News (the magazine) this month
20 June 2011
Contestable broking platforms come under the microscope in the latest edition of Insurance News (the magazine), which is being mailed out this week…
Mixed results from APRA’s general insurance data
14 June 2011
A number of insurers made a loss from their Australian operations in the year to December 31, according to data released by the Australian Prudential Regulation Authority…
Premiums to rise further after latest Christchurch quake
14 June 2011
The New Zealand insurance landscape has changed permanently following the latest Christchurch earthquake, according to Insurance Council of New Zealand CEO Chris Ryan…
NDIR looks at sea level rises
14 June 2011
A Federal Government inquiry into insurance gaps in coastal regions has been included in the Natural Disaster Insurance Review’s terms of reference as reports show sea level rises could cause…
Suncorp hits out on compulsory flood cover
14 June 2011
Suncorp Personal Insurance CEO Mark Milliner has warned that moves to make flood cover compulsory would drive up home insurance premiums by a “significant amount” for homeowners…
NZ insurers, EQC go to court for ruling on quake cover
14 June 2011
The Insurance Council of New Zealand and the Earthquake Commission will seek guidance from the High Court to determine how to apportion damage from the Christchurch earthquakes…
Christchurch earthquake: business owners stressed as BI cover runs out
14 June 2011
Christchurch business-owners are feeling the stress as their business interruption insurance runs out, according to a survey by business assistance group Recover Canterbury…
Yasi victims ‘will be home for Christmas’
14 June 2011
Insurers are aiming to get homeowners affected by Cyclone Yasi in February back in their homes before Christmas…
ICA communications ‘rethink’ needed, says Scott
06 June 2011
Insurance Council of Australia President Rob Scott says the industry needs to “rethink” how it communicates with the public in order to have a greater influence in the public debate after the…
Disasters led to $16.6 billion in claims
06 June 2011
Floods and earthquakes have blown out claims figures for the Australian general insurance industry in the March quarter…
Laker counts cost of insured losses from storms and quake
06 June 2011
Losses from natural disasters in Australia and the Christchurch earthquake will top $11 billion for insurers regulated by the Australian Prudential and Regulation Authority…
Flood review airs its options
06 June 2011
The Federal Government’s Natural Disaster Insurance Review’s issues paper released last week makes it clear that a solution isn’t going to be focused only on the insurance industry…
Natural disasters slash 1.7 points from GDP
06 June 2011
Floods and cyclones slashed economic growth in the first quarter, leading to a fall of 1.2% in gross domestic product…
Floods and Yasi stir record claims disputes
06 June 2011
The Financial Ombudsman Service is bracing for an onslaught of disputes despite already receiving an “historically high” number from the Queensland and Victorian floods and Cyclone Yasi…
NZ councils face earthquake cover uncertainty
06 June 2011
Local councils across New Zealand may be left without earthquake insurance cover if their mutual pool insurer, the Local Authority Protection Program Disaster Fund, is unable to secure reinsurance…
NZ businesses face big premium rises
06 June 2011
Premium increases are being noted by New Zealand brokers, but so far the June renewals season has revealed no standardised rates of increase, according to Insurance Brokers Association…