Bureau says La Nina alert remains in place
05 September 2022
The Bureau of Meteorology’s latest El-Nino Southern Oscillation outlook continues to project a 70% chance for La Nina...
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Industry overcomes 'adverse' weather claims to achieve marginal profit rise
29 August 2022
The industry squeezed out a 0.3% rise in net profit to $924 million, as stronger underwriting earnings from increased rates helped offset “adverse” weather-related claims and investment losses, according to Australian Prudential Regulation Authority data...
Academics say disaster claims handling may not meet industry code
29 August 2022
Melbourne Law School academics say interviews with unsatisfied claimants raise questions about whether insurer claims handling following severe weather is consistent with General Insurance Code of Practice requirements...
Insurers to hold another round of meetings with flood policyholders
29 August 2022
The Insurance Council of Australia has arranged another round of meetings in the coming weeks for flood-impacted communities in NSW and south-east Queensland to discuss claims with insurers...
NSW, Queensland face 'unusually high' spring rainfall
29 August 2022
NSW and Queensland are poised to receive unusually high September-November rainfall ranking in the top 20% of all springs on record, the Bureau of Meteorology says...
First premium funders code promotes clarity, higher standards
29 August 2022
The first insurance premium funding code of practice will take effect from the start of October, promoting increased transparency and disclosure on pricing and a culture of professionalism...
Choice survey highlights increased home insurance cost concerns
29 August 2022
A survey from consumer advocate group Choice indicates a record number of Australians are concerned about rising home insurance prices...
‘Cornerstone of our advocacy’: ICA, actuaries demand mitigation
22 August 2022
Australia’s financial, social and health costs could be slashed by at least $19 billion by 2050 with better investment in resilience to counteract a rise in extreme weather, the Insurance Council of Australia says...
Bureau issues La Nina alert
22 August 2022
The Bureau of Meteorology warns there is now a 70% chance that a third La Nina in a row will develop this year...
Lobby group proposes wider net for cyclone pool collections
22 August 2022
The Australian Consumers Insurance Lobby says collecting premiums from across the country could deliver the cost benefits required from the Federal Government’s cyclone reinsurance pool...
IAG promotes resilience action as NZ faces floods clean-up
22 August 2022
IAG New Zealand has put forward an action plan to better prepare for future flooding as communities assess damage to homes after severe weather crossed the country last week...
EQC-funded research highlights insights on Kaikoura quake
22 August 2022
New research into the impact of the 2016 Kaikoura earthquake has provided engineers with vital information to help reinforce infrastructure design...
Property cover among top five small business product complaints
15 August 2022
Commercial property insurance was among the top five products that small businesses complained about last financial year, the Australian Financial Complaints Authority says...
Early rainfall onset tipped for northern Australia
15 August 2022
Rainfall is set to arrive earlier than normal in parts of far northern Australia this year, partly reflecting the influence of the negative Indian Ocean Dipole...
IAG report highlights underinsurance threat for small businesses
15 August 2022
IAG says more government support is needed to help small regional enterprises that face the vulnerability of being underinsured or having no insurance at all...
FM Global announces climate resilience credit for policyholders
15 August 2022
US-based mutual insurer, FM Global, has announced it will allocate nearly $US300 million to provide clients – including those in Australia and New Zealand – with “resilience credits” to incentivise increased investment in climate resilience solutions...
NHRA invites flood-affected residents to join research project
15 August 2022
Natural Hazards Research Australia has asked for first-hand accounts from NSW and Queensland flood-affected residents for its new research project as it devises policy recommendations to improve preparation and responses for future flood events...
High Court BI appeal application hearing months away
08 August 2022
The High Court of Australia will consider oral arguments on the business interruption test case appeal applications, but has indicated a hearing won’t be listed before October at the earliest...
D&O rates set for 'further softening': Marsh
08 August 2022
Australian directors’ and officers’ rates are expected to continue easing in the months ahead after contracting 5% in the second quarter of this year, the first decline since 2017, Marsh says, following the release of its latest quarterly update of commercial insurance premium pricing...
Climate risk poses threat to property insurance profits: GlobalData
08 August 2022
A new GlobalData report warns Australian home insurers of increased profitability risks as the advent of climate change-led weather-related claims compounds increasing insurance costs...