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Vehicle crime 'set to return to GFC levels'

15 June 2020

The number of vehicles stolen this year will likely exceed 60,000 for the first time since the Global Financial Crisis more than a decade ago, the National Motor Vehicle Theft Reduction Council says...

Pandemic, bushfires push industry into $997 million quarterly loss

01 June 2020

The general insurance industry sank into an after-tax net loss of $997 million in the March quarter, as last summer’s horror bushfires and fallout from the virus pandemic combined to devastate earnings, latest figures from the prudential regulator show...

Virus creates ‘new suite’ of pressures: S&P

01 June 2020

The COVID-19 pandemic has created a new suite of earnings pressures following significant summer natural catastrophe losses, but Australian and New Zealand-based insurers have been resilient, S&P Global Ratings says in a report...

Deadline extended for Mansfield Awards feedback

01 June 2020

More time has been provided for brokers to give feedback on insurance claims teams, which will help decide which organisations are recognised in this year’s Mansfield Awards for Claims Excellence...

AFCA expects virus-related disputes to rise

01 June 2020

Disputes over pandemic-related claim denials are set to rise in the coming months, the Australian Financial Complaints Authority has warned, revealing at least 1070 general insurance cases linked to the global health crisis have been lodged...

Cyber crooks exploiting COVID-19 lockdown

01 June 2020

Cyber thieves are using new variants of ransomware to extort money from victims, exploiting the security loopholes created by the COVID-19 lockdown, according to Emergence...

Class action-related changes 'positive for D&O': Aon

01 June 2020

Federal Government changes to listed company continuous disclosure rules and increased regulation of litigation funders are a positive for the directors’ and officers’ insurance market, Aon Australia says...

Almost 50% of summer catastrophe claims closed

01 June 2020

The Insurance Council of Australia says almost half the claims from summer bushfire, hail and storm catastrophes have been closed, as estimated losses from the events continue to rise...

November hail was costliest NZ weather event in 15 years

01 June 2020

New Zealand’s extreme weather insured losses reached $NZ167.6 million last year, with the bulk of payouts stemming from a hailstorm which lasted just minutes but was the costliest weather event in 15 years...

Swiss Re looks at public-private BI solutions

25 May 2020

Swiss Re is actively engaged in discussing possible joint public-private arrangements for covering business interruption risks, the group’s Chief Economist Jerome Haegeli says...