Locust threat continues to build
18 October 2010
Swarms of locusts are now predicted to form in northern NSW this month, according to the latest Australian Plague Locust Commission bulletin…
Local
Inquiry avoids call for builders’ warranty overhaul
11 October 2010
A parliamentary inquiry into Victoria’s builders’ warranty insurance scheme has concluded that while it needs adjustments, the controversial scheme is nevertheless an effective consumer protection…
Premiums to rise after quake, says IAG NZ
11 October 2010
IAG NZ will increase premiums after receiving 7000 claims from Christchurch earthquake victims, including one claim worth $NZ55 million ($42 million)…
ICA comes out against multi-peril crop cover
11 October 2010
The Insurance Council of Australia says multi-peril crop insurance would only be viable with significant government subsidies…
Insurance sector weaker, says survey
11 October 2010
The finance and insurance sector has further weakened during September, according to the latest “performance of services” survey by the Australian Industry Group and Commonwealth Bank…
Queensland insurers hold fire on CTP price cuts
11 October 2010
Insurers have baulked at the Queensland Government’s attempts to force reductions in the price of compulsory third party insurance…
Fraud hotline launched
11 October 2010
A new phone service is encouraging Australians to report suspected insurance fraud…
GFC takes a bite out of earnings
11 October 2010
The global financial crisis took a big hunk out of the NZ finance and insurance sectors last year, with total income slumping 7.5% – or more than $NZ6 billion ($4.63 billion)…
In Insurance News (the magazine) this month
11 October 2010
Victoria’s surprise decision to drop the fire services levy puts pressure on NSW to follow suit…
Farmers push for crop insurance changes
04 October 2010
Australian farmers are pushing to include all input costs and expand the number of risks covered in crop insurance…
Victorian Government helps pay for flood damage
04 October 2010
The Victorian State Government will be giving $10.4 million package to businesses, councils and tourism operators that were affected by last month’s floods…
WA’s March storm claims still being settled
04 October 2010
A shortage of tradesmen in Perth means WA insurers are still trying to get on top of repairs resulting from March’s hailstorm…
Banks reach deal on quake payouts
04 October 2010
A new agreement has been thrashed out between banks and the NZ Government to allow Earthquake Commission (EQC) claims over $100,000 for mortgaged homes to be dealt with speedily…
Warranty needed to plug NZ’s leaky buildings crisis
04 October 2010
A new home warranty scheme is needed in NZ to prevent a replay of the leaky buildings crisis, according to a lawyer for claimants…
$19 million payout after stadium roof collapse
04 October 2010
NZI has settled a $NZ25 million ($19 million) claim from the operators of Stadium Southland in the southern city of Invercargill, after the stadium’s roof collapsed following a snowstorm on September 18…
Premiums growing despite competition
27 September 2010
Insurance premiums on personal lines products have increased despite more market competition from new players, KPMG says in its latest report on the general insurance industry…
Insurers escape big bills from bad NZ weather
27 September 2010
As New Zealand continues to pick up the pieces after the Christchurch earthquake the country has been battered by a week of destructive weather – and it isn’t over yet…
WA fire victims wait on talks
27 September 2010
Compensation for victims of bushfires at Toodyay, 85km northeast of Perth, may be sought through the courts unless negotiations between the WA Government, Western Power and…
Quake insurers unlikely to exceed reinsurance limits
20 September 2010
Most insurers with claims from the Christchurch earthquake will not exceed their reinsurance limits, according to a new report on the event by Aon Benfield…
Super funds to offer general insurance
20 September 2010
Another personal lines channel is opening up the rush to find new distribution bases, with QBE to supply online general insurance products to industry superannuation fund members…