Increased merger activity boosts transaction insurance
12 August 2019
The number of merger and acquisition deals in Australia and New Zealand using warranty and indemnity insurance jumped 37% last year compared to 2017, Aon says...
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400,000 customers told of ‘junk cover’ class action
12 August 2019
More than 400,000 Australians have been notified they may be eligible for a class action accusing National Australia Bank of selling “junk” consumer credit insurance...
Calls for ‘coherent’ policy on climate change
12 August 2019
Swiss Re’s local head Mark Senkevics has called for a “coherent government policy” on climate change, warning that Australia is uniquely exposed...
EQC adopts ‘made in NZ’ risk tool
12 August 2019
New Zealand’s Earthquake Commission, EQC, is adopting locally developed risk-modelling software that helps users assess risks to buildings, infrastructure and people from natural hazards such as earthquakes, tsunamis and floods...
ICA criticises ACCC affordability report
05 August 2019
The Insurance Council of Australia has criticised the inquiry into northern Australia’s insurance affordability problem – saying it’s revisiting “flawed ideas” and failing to tackle the underlying issues...
Flood study will help fine-tune premiums, ICA says
05 August 2019
A flood study commissioned by the NSW Government providing the most up–to-date information on river flooding will help insurers fine-tune their pricing and may lead to lower premiums, the Insurance Council of Australia says...
Car theft control group focuses on fraud
05 August 2019
Tackling new developments in car insurance fraud and increasing cases of staged collisions using written-off cars are some of the priorities of the National Motor Vehicle Theft Reduction Council for the next 12 months...
NSW bushfire rules brought forward for winter start
05 August 2019
The start of the official NSW bushfire danger period has been brought forward by two months, starting now in much of the state even though it is still winter...
Insurance claims for bad debts hit record levels
05 August 2019
Insurance claims for bad business debts have hit record levels, trade credit insurance broker NCI says...
Ratings downgrade affects mortgage-backed securities
05 August 2019
Ratings agency S&P has placed a negative credit watch on 65 different classes of residential mortgage-backed securities (RMBS), following its decision to lower its ratings on two local lenders’ mortgage insurance heavyweights...
Big winner: Allianz wins gold and two silvers at Mansfield Awards
29 July 2019
Allianz Australia has hailed the work of its claims staff after winning the Gold Mansfield Award for excellence in claims-handling for the second year in a row.
Breach leads motor assessor to boost cyber security
29 July 2019
Motor loss assessing firm AAMC says it is boosting its cyber security after an unauthorised breach affected part of its systems...
Canberra urged to follow UK cladding repair plan
29 July 2019
The Federal Government has been urged to adopt the UK approach and fund the rectification of unsafe cladding on buildings...
Big insurers’ bizpak domination under threat
29 July 2019
The potential entry of newcomers in the SME business pack product line could upend the market dominance of IAG, Suncorp and QBE, a Macquarie Research report predicts...
Manual operation of dam spared Townsville worse flooding
29 July 2019
An independent review says Townsville was spared more widespread flooding six months ago by a decision to operate spillway gates at the Ross River Dam manually on four occasions – a deviation from the standard operating procedures...
Dry conditions persist: BOM
29 July 2019
Parts of southern Queensland face above-normal fire potential and current trends suggest no relief is in store for drought-affected areas, according to the Bureau of Meteorology’s latest update...
Professional, public and products claims surge
29 July 2019
Professional indemnity and public and product liability claim payouts cost insurers a combined $2.03 billion in 2017, a rise of 22.5% over the previous year...
Ministers agree to act on PI impasse
22 July 2019
A consultation on professional indemnity insurance is expected in coming weeks after the Building Ministers’ Forum in Sydney last week agreed on a co-ordinated response to the impasse in the troubled construction industry...
No ‘windfall’ for insurers under cladding fix: ICA
22 July 2019
The Insurance Council of Australia has rejected suggestions that insurers will enjoy a “significant windfall gain” from Victoria’s cladding rectification plan and should therefore help fund the repairs...
NSW funds $2 million drought insurance study
22 July 2019
The NSW Government will spend $2 million investigating a national insurance scheme to protect the drought-hit farming sector from future dry spells...