In Insurance News magazine this month
12 December 2022
QBE Group CEO Andrew Horton has been in position for more than a year, so Insurance News magazine caught up with him for an in-depth interview...
Local
Industry backs measures to reduce fire danger from lithium-ion batteries
12 December 2022
Insurers have supported measures that would reduce fire dangers linked to lithium-ion batteries as a review by the Australian Competition and Consumer Commission gets underway...
AMI flags sharp rise in claims ahead of festive period
12 December 2022
AMI Insurance predicts claims in New Zealand will soar ahead of an active festive and new year period...
Code watchdog launches consultation after 'substantial' rise in breaches
05 December 2022
Breaches relating to pricing lapses and claims handling have emerged as key concerns as the General Insurance Code Governance Committee (CGC) released today a paper seeking feedback on ways to improve better compliance...
Flooding disaster declared 'costliest in Australian history'
05 December 2022
The Insurance Council of Australia says the February-March floods, which hit Queensland and NSW, are Australia’s most expensive natural disaster. ..
Cyclone reinsurance pool: lobby group urges Allianz to act on strata
05 December 2022
The Australian Consumers Insurance Lobby has pressed Allianz to speed up the transition of its residential strata portfolio into the cyclone reinsurance pool, as “serious market failures” have left consumers in the north struggling to find cover...
Industry faces 'volatile inflation' challenge
05 December 2022
Price pressures are set to dominate upcoming renewal talks as reinsurers try to tackle inflation and its long-term impact on claims, according to Berkley Re Asia Pacific CEO Glenn Riddell...
Flood-affected NSW faces heightened bushfire risk by late summer
05 December 2022
Large areas of NSW, particularly in the west, face above normal fire potential this summer due to prolific grass growth, and even flood-ravaged areas will have to be on high alert for bushfire by February...
EQC helps find 'sweet spot' between carbon emissions and seismic resilience
05 December 2022
Toka Tu Ake EQC has announced it will fund a new research project exploring potential solutions to reduce embodied carbon within seismically resilient housing. ..
Investment losses mar industry profit
28 November 2022
General insurers more than tripled their combined underwriting earnings to $6.1 billion for the year to September 30 but suffered investment losses of $3 billion, causing industry-wide net profit to decline 0.8% to $960 million, latest prudential data shows...
'Complex' cyclone pool can't be rushed
28 November 2022
Northern Australia cyclone reinsurance pool complexities are preventing insurers joining more quickly, insurers have told a federal parliamentary committee inquiry...
Majority of brokers provide clients with fees information
28 November 2022
More than half of brokers provide clients with information about fees and the majority have established “widespread good practice” that facilitates a culture of compliance and ensure good customer outcomes, according to the Insurance Brokers Code Compliance Committee...
NSW businesses seek other insurance options amid premium affordability challenge
28 November 2022
Business NSW has started looking for potential options for its members who are struggling to afford or secure insurance coverage...
Australia set for a tale of two summers
28 November 2022
Summer is to be wet in the east and dry in the west, with the Bureau of Meteorology forecasting significant rainfall along coastal NSW, most of Victoria, large areas of Queensland and northern and eastern Tasmania...
Christmas shoppers warned of lithium-ion battery fire risk
28 November 2022
Fire and Rescue NSW has warned shoppers of the danger of Christmas gifts powered by lithium-ion batteries such as e-bikes, e-scooters, laptops or power tools, saying it has responded to 180 such fires since January, up from around 16 last year...
Removing broker commissions 'would do more harm than good'
21 November 2022
Quality of Advice Reviewer Michelle Levy says she understands why consumer groups hate general insurance commissions – but that she cannot see a good reason to ban them...
Support extended in NSW after months of floods
21 November 2022
Financial assistance has been made available to another five NSW local government areas affected by ongoing severe floods as more towns have been advised to evacuate...
CFOs concerned over risk 'velocity': Lockton survey
21 November 2022
More than half of CFOs globally, including those in Australia, have changed their risk management approach under pressure from the “velocity” of evolving threats confronting them, research by insurance broker Lockton has found...
ICA to host in-person meetings for Brisbane communities
21 November 2022
The Insurance Council of Australia and insurers will host in-person panels for flood-affected customers in Brisbane and nearby communities...
Federal Court sets date for BI class actions restart
21 November 2022
The Federal Court has scheduled a case management hearing for class actions triggered by covid-related business interruption disputes...