Agents see first signs of hardening market
21 March 2011
Major underwriting agency SRS is experiencing a four-fold increase in slips being directed to it by brokers – a reliable indication that the market is hardening in the wake of disasters…
Local
More BI claims from Queensland floods
21 March 2011
While many Brisbane businesses had flood cover, brokers are finding more claims are coming in from business interruption policies…
Flood definition creeps closer as discussions continue
21 March 2011
Negotiations over a standard flood definition are continuing between the Insurance Council of Australia, its members and the Federal Government…
Christchurch earthquake: Marsh names third employee killed
21 March 2011
Marsh NZ has published the name of a third employee killed in the Christchurch earthquake on February 22…
Christchurch earthquake: EQC fund won’t run dry
21 March 2011
The NZ Earthquake Commission maintains it will have enough cash to cover damage claims from the February 22 Christchurch earthquake, despite reports the fund has been “hollowed out”…
Christchurch earthquake: EQC fast-tracks assessments
21 March 2011
e NZ Earthquake Commission will have 350 assessors and loss adjusters in Christchurch this week in a bid to fast-track claims…
Flood: PI claims to hit Lloyd’s if dam operators found liable
14 March 2011
New hydrology reports from the Insurance Council of Australia’s panel of experts conclude that releases from Wivenhoe Dam were to blame for the Brisbane floods…
Flood: Ombudsman to use hydrology reports
14 March 2011
Hydrology reports commissioned by the Insurance Council of Australia for the Queensland floods will also form the basis of the Financial Ombudsman Service’s rulings, according to Chief Ombudsman Colin Neave…
Christchurch earthquake: second insurance death confirmed
14 March 2011
Marsh has advised the name of a second employee who died in the Christchurch earthquake…
Consumer advocate berates industry’s ‘arrogance’
14 March 2011
A leading consumer advocate has ranked the insurance industry as worse than the banks in its dealings with consumer groups, citing a “take it or leave it, arrogant attitude”…
QBE payout may set precedent
14 March 2011
QBE has been forced to pay a flood damage claim because the product disclosure statement was not handed to the customer at the time the policy was sold…
Christchurch earthquake: more restrictions, higher premiums
14 March 2011
The insurance industry is expecting earthquake cover in New Zealand to be more restricted and cost more after the second Christchurch earthquake…
Flood-damaged cars can be insured
14 March 2011
Road accident experts say flood-damaged cars can be dangerous, but motor insurers say they will cover flood-affected vehicles if they have passed the roadworthy assessment process…
D&O faces class action pressure
14 March 2011
Australia’s increased exposure to class action cases and the availability of commercial litigation funders is continuing to apply pressure to the local directors’ and officers’ insurance market…
Get involved with definition: ICA
07 March 2011
The Insurance Council of Australia has warned its members they must contribute to the creation of a universal flood definition or an “uninformed” Federal Government will do it for them…
Christchurch earthquake: building classification under fire
07 March 2011
New Zealand’s rapid assessment system for earthquake-damaged buildings is being questioned after it emerged that buildings cleared for occupancy after the September 4 Christchurch quake were…
Christchurch earthquake: likely total cost $10 billion-plus
07 March 2011
The economic impact of the second Christchurch earthquake is expected to top $NZ15 billion ($10.95 billion), but the insurance losses will be difficult to apportion between the two quakes…
Christchurch earthquake: insurance cost mounts
07 March 2011
Christchurch City Council is likely to get NZ’s largest-ever insurance payout from the country’s local government insurer, Civic Assurance…
Flood: time to examine force majeure
07 March 2011
When mining companies and their clients sit down to negotiate, discussion tends to focus on price and quantities rather than what might happen if a disaster strikes, but that might have to change…
Flood: O’Halloran says governments were warned
07 March 2011
QBE CEO Frank O’Halloran admits there are problems with flood insurance, but says governments should have heeded insurance industry warnings over building in flood-prone areas…