More homes lost as fires continue to burn
03 February 2020
Bushfire conditions deteriorated again in the ACT and NSW over the weekend, leading to the loss of more homes...
Local
Hail losses continue to rise
03 February 2020
Losses from hailstorms that hit the ACT, Victoria and NSW last month are set to continue rising as claims are still being lodged...
ICA confirms CEO departure
03 February 2020
Insurance Council of Australia CEO Rob Whelan will leave the industry body to explore “new roles and opportunities”...
Insurers clarify coronavirus coverage
03 February 2020
The local insurance industry has warned that “broad exclusions normally apply” to pandemics and epidemics such as the current coronavirus outbreak...
Insurance cycle to peak late next year: Honan
03 February 2020
The hardening insurance market is unlikely to peak until late next year as underwriters continue to focus on improving profitability, Honan Insurance Group says...
ICA hosts Townsville catastrophe forum
03 February 2020
The Insurance Council of Australia hosted a forum in Townsville on Saturday for policyholders with unsettled claims, a year after the north Queensland city experienced a massive flood...
Climate change rises up Allianz risk list
03 February 2020
Climate change and increasing weather volatility is now ranked ahead of market developments and business interruption in Allianz Global Corporate and Specialty’s annual survey of the top risks facing the Australian insurance industry...
StrataRatings ranks top underwriters
03 February 2020
CHU, Strata Community Insurance and Strata Unit Underwriters have again come out best in an annual ranking of commercial and residential products by independent analyst StrataRatings...
A NOTE FROM THE PUBLISHER
16 December 2019
This is the final Monday edition of insuranceNEWS.com.au for 2019, with our Daily update service continuing through to Friday. We will be back in action from Monday February 3...
Above-normal fire threat remains, new report says
16 December 2019
The eastern region stretching from north Queensland through to NSW and Victoria faces above-normal fire risk this summer, the Bushfire and Natural Hazards Cooperative Research Centre says in a report released today...
Calls for national reinsurance scheme fall on deaf ears
16 December 2019
The Building Ministers’ Forum concluded on Friday with an agreement to follow up on the professional indemnity insurance crisis but did not take up the Victorian Government’s call for a national reinsurance scheme...
Hardening rates will keep industry growth intact: S&P
16 December 2019
Overall return on equity for insurers will exceed 10% over the medium term, S&P Global Ratings has predicted in a moderately upbeat report on the industry’s outlook...
Premiums to keep rising, claims costs increasing: KPMG
16 December 2019
Premium rates are set to continue rising as insurers also battle rising claims costs, KPMG says in its annual review of the industry...
White Island tragedy raises questions over responsibility
16 December 2019
A Miami-based law firm says cover provided by New Zealand’s Accident Compensation Corporation won’t prevent US legal action against cruise company Royal Caribbean over injuries and loss of life caused by the White Island eruption...
Cyber breach transparency critical after hacks
16 December 2019
Companies hacked by cyber criminals should inform their customers even if they’re not legally obliged to do so, a webinar for insurance brokers has been told...
WFI highlights risks of burglary on farms
16 December 2019
Farmers are urged to keep their properties and valuables safe after nearly 700 farms across Australia lodged insurance claims for theft in the last year, according to claims data at IAG subsidiary WFI Insurance...
Vehicle theft rises 7% as Queensland battles rising trend
16 December 2019
Motor vehicle theft rose 7% nationally in the year to September, with Brisbane and the Gold Coast the top two locations targeted by criminals stealing passenger and light commercial cars...
NSW braces for heatwave as fires rage on
09 December 2019
Several parts of NSW face very high fire danger today and tomorrow, the NSW Rural Fire Service has warned, as crews try to contain dozens of blazes in the state...
Summer threatens ‘terrible trifecta’
09 December 2019
This summer of 2019-20 is shaping up as a “terrible trifecta” of heatwaves, drought and bushfires exacerbated by inaction on climate change, the Climate Council says...
High Court decision ‘disappointing’, class action funders say
09 December 2019
The Association of Litigation Funders of Australia says a High Court ruling that may prevent some class actions going ahead is disappointing...