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…
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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…
Compulsory flood cover would disadvantage smaller players
30 May 2011
The Natural Disaster Insurance Review’s preferred “full flood” insurance solution would create difficulties for smaller insurers who would be unable to fund the proper risk assessment…
Sea level rises widen gaps in cover
30 May 2011
Insurance “gaps” in coastal regions could continue to widen if the Federal Government Climate Change Commission’s rising sea-level predictions become a reality…
Brokers say natural disasters their biggest concern
30 May 2011
Brokers responding to a Vero survey have nominated natural disasters and negative perceptions of the industry as their biggest concerns…
Flood cover debate is progressing, says ICA chief
30 May 2011
The insurance industry is making “enormous progress” in the drive to solve the flood cover issue, Insurance Council of Australia CEO Rob Whelan says…
Flood: Media key to keeping residents informed
30 May 2011
Rockhampton residents knew the “potential gravity” of the season months ahead of the devastating January floods, the Queensland flood commission has heard…
Snowball calls for natural disaster inquiry
30 May 2011
Suncorp Group CEO Patrick Snowball wants a review of natural disaster management modelled on the Wallis Inquiry of the late ’90s, which led to the financial services reforms of 2001 and later…