Inflation puts SMEs at risk of ‘coverage gap’: BizCover
01 May 2023
Sydney-based insurtech BizCover has urged small business owners to revisit their policies amid coverage gap concerns due to inflationary pressures and increased building costs...
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Insurers hire Deloitte to identify best practice after record floods
24 April 2023
Deloitte will review the insurance industry’s response to record floods that struck Queensland and NSW early last year...
Porter Davis being investigated after insurance oversight
24 April 2023
The Victorian Building Authority is investigating Porter Davis Homes for potential breaches of the law after the collapsed construction firm failed to take out Domestic Building Insurance (DBI) for 560 families it accepted deposits from, breaching its obligations...
Carbon fibre straps offer quick earthquake fix for high rises: EQC
24 April 2023
Wrapping thin concrete walls with carbon-fibre straps can inexpensively “earthquake-proof” older high-rise buildings to a standard well beyond today’s building code, Toka Tū Ake EQC says...
Australian directors put climate change among top risks
24 April 2023
Economic and cyber risks are causing increasing concern for directors and officers worldwide, according to a Directors Liability 2023 survey from WTW and law firm Clyde & Co...
Ancient Maori construction techniques combat earthquakes
24 April 2023
Māori construction techniques can withstand major earthquakes and will be deployed in the rebuilding of an historic Bay of Plenty wharenui, or communal house, Toka Tū Ake EQC says...
Cyclone Ilsa sets new wind record, misses major towns
17 April 2023
Tropical Cyclone Ilsa, which made landfall around 120km northeast of WA’s Port Hedland on Thursday as a Category 5, set a new wind speed record while missing major population centres and infrastructure...
Insurer code breaches hit record levels
17 April 2023
Insurance providers breached the General Insurance Code of Practice a record 58,104 times in the 12 months to June 30 2022 – up 40% on the previous year...
In Insurance News magazine this month
17 April 2023
Underwriting agencies take centre stage in the latest edition of Insurance News magazine, as their influence in the local market continues to grow...
Insurers expect more Australians to take domestic travel cover
17 April 2023
New data has shown a rise in Australians intending to purchase travel policies for domestic trips as the industry expects delays and disruptions to continue to affect flights throughout the year...
EQC scholarship recipient returns from US with 'invaluable data'
17 April 2023
Toka Tu Ake EQC has heralded the return of its 2020 Fullbright Scholarship recipient, Jesse Kearse, after collecting a “treasure trove of earthquake data,” from research in the US...
IAG spells out how to relocate communities
03 April 2023
Community support is vital for any planned relocation of homes at high risk of natural catastrophe damage, and there is no one-size-fits-all approach, a new IAG report says...
Rates to rise at least 10%, KPMG says
03 April 2023
Consultancy KPMG says general insurance pricing conditions will harden further this year, predicting rates will increase by at least 10% as general insurers respond to last year’s flood catastrophes and other natural disasters...
Intermediaries place more business as invoiced premium passes $18 billion
03 April 2023
Business placed by general insurance intermediaries, as measured by premium invoices, went up in the July-December period to $18.5 billion from $17.2 billion a year earlier, according to the Australian Prudential Regulation Authority...
Cyclone Gabrielle to cost insurers $1.44 billion: Perils
03 April 2023
Insured losses from Cyclone Gabrielle will reach $NZ1.54 billion, Swiss-based catastrophe data company Perils estimates...
Insurer input key to better building strategy, NZ academic says
03 April 2023
The insurance sector must be part of discussions on where and how homes are built as New Zealand considers how to better prepare for a future affected by climate change, Massey University Senior Lecturer in Economics Michael Naylor says...
ANZIIF CEO Prue Willsford to step down
27 March 2023
Australian and New Zealand Institute of Insurance and Finance CEO Prue Willsford will step down at the end of the year after a decade in the role...
No appeal lodged after JLT councils scheme class action victory
27 March 2023
JLT’s victory in a NSW Supreme Court class action brought by a group of local governments will not be appealed by the councils, with the deadline for lodging documents ending last week...
Suncorp panel calls for collaboration on disaster resilience
27 March 2023
A panel discussion hosted by Suncorp and public policy group The McKell Institute says cooperation between insurers and governments remains “imperative” to ensure that Queensland is “fully risk-ready” for future natural disasters...
NZ insurers estimate Gabrielle losses at $830 million
27 March 2023
Preliminary estimates indicate Cyclone Gabrielle has caused insured losses of around $NZ890 million, the Insurance Council of New Zealand says...