Queensland floods add to weather claims influx
16 May 2022
Queensland storms over the past week have led to a further influx of claims as the industry deals with impacts from this year’s record-breaking flooding...
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Amusement parks group vows to push on with mutual plan
16 May 2022
The Australian Amusement, Leisure and Recreation Association has pledged to push on with its proposed discretionary mutual fund to address the insurance crisis facing its members, despite a Federal Government decision not to back it...
Climate, class actions, regulation top concerns
16 May 2022
Climate change and class actions if left unchecked could be a major contributor to rising insurance costs and are key issues on the Australian risk radar, along with the pace of regulatory change, a Global Insurance Law Connect report says...
Perils shaves southern Australia storms loss estimate
16 May 2022
Catastrophe data company Perils has slightly reduced its loss estimate for southern Australia severe storms that lashed three states with hail, heavy rainfall and wild winds...
NTI develops 'spilt milk' dairy tanker safety program
16 May 2022
Transport and logistics specialist insurer National Transport Insurance is creating a new training program to improve road safety in the dairy industry...
Auckland-region flood claims top $70 million
16 May 2022
Torrential rain, thunderstorms and flash flooding across Auckland and much of New Zealand’s North Island in March has led to 7647 claims so far worth an estimated $NZ79.61 million, Insurance Council of New Zealand says...
Report warns of 'insurability crisis' as climate change takes hold
09 May 2022
The Climate Council has released a report projecting more than half a million homes may not have insurance protection by the end of this decade, the result of political inaction on fossil fuels usage...
Rising flood dangers require planning rethink: ICA
09 May 2022
The consequences of flooding and not just the probability needs to be taken into account as climate change and expanding urban populations bring increasing risks, a report released by the Insurance Council of Australia says...
NSW flooding speed, ultimate height surprises residents
09 May 2022
A Risk Frontiers research trip to northern NSW flood-hit regions has found that “without exception” residents in all areas visited expressed alarm at the speed with which water levels rose and surprise at the ultimate height they reached...
ICA to hold community forums in flood-hit northern NSW
09 May 2022
The Insurance Council of Australia has scheduled six in-person forums in northern NSW to assist policyholders hit by the recent flooding...
Cyclone numbers below long-term season average
09 May 2022
The number of Australian-region tropical cyclones in the season just finished was below the long-term average, the Bureau of Meteorology says...
Sliding hinge joint to revolutionise seismic engineering
09 May 2022
New Zealand’s Earthquake Commission has awarded an annual prize to a revolutionary sliding hinge joint innovation that advances lower damage, affordable seismic engineering...
Australia commercial rates continue to ease: Marsh
02 May 2022
Commercial rates in the Pacific market – in which Australia makes up 80% of business – have risen slower than global levels for the first time in more than four years, according to Marsh’s latest price monitor for the March quarter...
Brokers show 'remarkable resilience' navigating covid disruptions
02 May 2022
A Macquarie Bank business sentiment survey has found “remarkable resilience” among brokers and the broader general insurance intermediary sector in the way they have responded to pandemic-related challenges...
Climate driver points to possible wet winter, spring
02 May 2022
Climate models are suggesting above average winter and spring rainfall is possible this year, with the potential for a waning La Nina to be followed by another wet weather driver...
Xceedance urges insurers to retain human touch
02 May 2022
Insurers need to find the right balance between digital engagement and a more personal, voice-to-voice customer experience when catastrophes strike, Xceedance Australia Associate VP of Client Solutions Francine Davis says...
NRMA-backed resilient home project launched
02 May 2022
The Bushfire Building Council of Australia has launched FORTIS House, a resilient home building project it has been working on in collaboration with NRMA Insurance and other partners...
Cyber extortion debuts on list of top executive worries
26 April 2022
Cyber attack, data loss and cyber extortion have been ranked as the top three risks for directors and officers in Australasia by a significant margin, with regulatory risk coming in at number four, according to the latest Directors’ Liability Survey from Willis Towers Watson and law firm Clyde & Co...
Industry using 'shoddy' data practices, consumer advocate says
26 April 2022
The Financial Rights Legal Centre has called for regulatory oversight of general insurance claims reporting after a report it commissioned found issues with the data practices of insurers...
Australia has largest flood loss on record
26 April 2022
Zurich-based catastrophe data company Perils estimates insured losses from recent flooding in Queensland and NSW at $3.99 billion, taking over Brisbane’s 2011 event to be the largest flood loss on record for the Australian insurance industry...