Premiums likely to rise another 10% in 2024: KPMG
10 July 2023
KPMG says it “sees no reason” not to expect another 10% rise in premiums next year across the industry, and in particular for home and motor policies...
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ICA reveals latest catastrophe loss data
10 July 2023
The Insurance Council of Australia has released the latest set of catastrophe claims data, with last year’s February and March floods in NSW and Queensland nearing the $6 billion mark...
Customer fails to prove bank sold policy without her knowledge
10 July 2023
A woman who claims she was signed up for loan protection insurance without her knowledge has failed to win a refund...
Multi-pronged approach needed to tackle climate emergency
10 July 2023
The challenge of more frequent and increasingly erratic extreme weather events, and the impacts on the insurance industry, will be addressed in a key panel session at next month’s World Insurance Congress in Australia...
Smarter workplaces could stem rising compo claims
10 July 2023
One in five health and social assistance care workers say they are suffering from work related burnout, updated research funded by Insurance and Care NSW reveals...
GB lists tips for insurers to combat inflation
10 July 2023
Gallagher Bassett has outlined how insurers can speed policy reinstatement to combat inflation...
Court hits IAG with $40 million pricing promises penalty
03 July 2023
The Australian Securities Investments Commission has called on insurers to do better after IAG undertook to contact customers caught up in the discount controversy to advise them of a Federal Court judgment on Friday...
Cyclone pool has eased pressure at mid-year renewals: Aon
03 July 2023
Property catastrophe rate pressures eased at the mid-year renewals, and the new northern Australia cyclone reinsurance pool can take some of the credit, global broker Aon says...
Travellers unpack concerns about costly premiums
03 July 2023
Some holidaymakers say they won’t be packing travel insurance due to the rising costs of premiums since the pandemic, according to a survey by a comparison website...
‘You would never not set a financial target’: Allianz backs D&I quotas
03 July 2023
Fixed quotas ensuring the hiring of more diverse teams are to be encouraged as they help insurers gauge progress and hold management accountable...
Vehicle tech adding to rising repair costs: Finity
03 July 2023
A sharp rise in motor repair costs is partly due to higher energy, materials and labour costs, though a key and more permanent factor is the rapid advance in technology of modern motor vehicles, repair management firm AAMC says...
BI claimants failing to clear shut-down order hurdle
26 June 2023
Beauticians that were forced to shut down due to Victorian government orders during the pandemic have lost claim disputes as the state’s restrictions were not directly tied to outbreaks near their business locations...
Court ruling won’t stop the party
26 June 2023
Hosts sued by a party guest, who was set alight by another guest in a drunken prank gone wrong, have won an appeal ruling which a lawyer says is a relief for the insurance industry...
Cyclone pool changes among consumer group key focus areas
26 June 2023
Broadening the scope of the cyclone reinsurance pool will be one of the key focus areas for the coming year, the Australian Consumers Insurance Lobby (ACIL) said at its annual general meeting...
Cycling group hit by rising public liability premiums
26 June 2023
Sporting organisation AusCycling has told members it will need to introduce a special insurance levy due to the impact on its budget from an unexpected surge in public liability premium costs...
GB outlines supply chain challenge strategies
26 June 2023
The impact of global supply chain issues on insurers is increasing, upping the need to develop effective strategies to address the challenge, Gallagher Bassett New Zealand National Supply Chain Manager Kelly Spratt says...
Flood and bushfire mitigation projects get backing
26 June 2023
Research projects to strengthen natural hazard resilience and reduce disaster risk are among 11 projects backed by Natural Hazards Research Australia...
Commercial lines gains moderate after five-year hard market: Finity
19 June 2023
Commercial lines are continuing to see rate increases after five consecutive years of double-digit premium growth, but with some moderation in parts of the market, Finity says...
Disaster Ready Fund gears up for July start as inaugural projects finalised
19 June 2023
More than 180 mitigation projects from across the country have qualified for the Federal Government’s first funding round from the $1 billion five-year Disaster Ready Fund...
El Nino Alert in place as drier, warmer weather expected
19 June 2023
The Bureau of Meteorology says there’s three times the normal chance of an El Nino developing this year, while drier than usual conditions associated with rising bushfire risk are already expected to persist over the next few months...