EQCover building cap rise takes effect
03 October 2022
New Zealand homeowners will have their EQCover building cap doubled to $NZ300,000 for their insured properties after previously announced changes came into effect on October 1...
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Torrential rainfall, flooding hits NSW, Queensland
26 September 2022
Torrential rainfall fell in parts of NSW and southeast Queensland last week, causing rivers to burst their banks and flash flooding to hit already saturated areas, as an extended wet weather pattern continues to lead to further insurance claims...
Australia more at risk from cyberattacks, Thales says
26 September 2022
More Australian organisations are under scrutiny from cyber hackers and nation-state actors after leaders signed up to international security pacts, French technology group Thales Cloud Security says...
Half-year intermediary premium rises
26 September 2022
Intermediaries placed more business by premium in the June half, invoicing about $16.58 billion compared with $14.2 billion in the corresponding period last year, Australian Prudential Regulation Authority figures released last week show...
Renewable energy rise puts spotlight on project cargo cover
26 September 2022
Rising renewable energy development in Australia has highlighted the logistical challenges in shipping specialist equipment from overseas and the role of project cargo insurance in supporting new power generation, Axa XL says...
Catastrophes 'threaten viability' of home cover: Taylor Fry
19 September 2022
More frequent and severe natural disasters could make home and contents insurance unviable for insurers, Taylor Fry warns...
Changing climate drives up premiums, data consultancy says
19 September 2022
Premiums are set to remain “inflated” as changing climate patterns lead to more extreme weather events in Australia, analytics consultancy Decision Inc said today after examining key data from the last few years...
S&P projects 8% premium growth for NZ industry
19 September 2022
New Zealand general insurance premium is likely to achieve a “solid” 8% growth this calendar year, S&P Global Ratings said today in an update...
ICNZ releases July extreme weather claims figures
19 September 2022
The Insurance Council of New Zealand Te Kahui Inihua o Aotearoa says more investment in extreme weather resilience is needed in response to the release of its claims data for July...
ICA warns communities to prepare for La Nina
19 September 2022
The Insurance Council of Australia has issued warnings for residents across eastern Australia for forecasted wet weather events throughout spring and early summer, as the onset of a third La Nina event begins...
First Nations business owners grapple with insurance: Allianz
19 September 2022
Just 21% of First Nations SMEs have general property insurance, compared with 42% for the broader SME sector, new research from Allianz has found...
'We all pay': ICA outlines true cost of catastrophes
12 September 2022
Every Australian household paid an average of $1532 in the last financial year to cover the cost of extreme weather events, according to two significant reports released by the Insurance Council of Australia...
Claim handling delays top issue as flood complaints rise
12 September 2022
The Australian Financial Complaints Authority says claim handling delays, claim amounts and denials have emerged as the top issues causing disputes following the flooding that hit Southeast Queensland and northern NSW earlier this year...
Cyclone pool non-disclosure rules frustrate consumers
12 September 2022
Cyclone pool non-disclosure terms are frustrating consumers as they continue to seek more information over likely benefits from the scheme...
Climate risk consultancy outlines global warming fallout on insurance, property values
12 September 2022
Climate risk consultancy Climate Valuation says property values can “expect to take a hit” because of global warming, with “direct” implications also for premium affordability...
Rising sea levels trigger falling house prices
12 September 2022
Home prices in flood-prone areas are set to fall as climate change influences Australia’s property market values, an RMIT University academic says...
Clear laws, 'threat actor' consequences needed on ransomware
05 September 2022
Clearer Australian laws and international co-operation to act against criminals are among measures needed in response to the rising threat from ransomware, Kennedys Partner and cyber insurance law specialist Nicholas Blackmore says...
Submission seeks longer visas for offshore loss adjusters
05 September 2022
The Australasian Institute of Chartered Loss Adjusters is urging that the government extend temporary work visas allocated to overseas insurance loss adjusters after catastrophes to a minimum of six months...
Dive In festival helps insurers attract best talent, Lloyd's says
05 September 2022
The insurance industry’s Dive In diversity and inclusion festival, now in its eighth year, helps create an environment that attracts the best talent from broader backgrounds, Lloyd’s says...
Drone risk an overlooked opportunity for insurers, DroneShield says
05 September 2022
Insurers should consider offering a dedicated policy meeting direct costs from drone disruptions, particularly for venues and firms that take measures to minimise the threat, ASX-listed DroneShield says...