Higher Wellington premiums reflect risk: IAG
11 June 2019
Property owners in Wellington will be paying more to insure their houses because the national capital is a high-risk area for earthquakes, IAG New Zealand says…
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ICA pushes back against Tasmania’s ‘uninsurable’ claim
11 June 2019
The Insurance Council of Australia has denied that a number of houses in Tasmania’s Blackmans Bay have become uninsurable because of climate change…
Agency aims to plug region’s insurance gap, but won’t yet say how
11 June 2019
Underwriting agency Sure, which plans to enter the north Queensland market next month with underwriting capacity from Liberty Mutual, says it will provide details of its business nearer to its launch, with its approach to the cyclone-prone region set to be closely watched…
ICA shares insights with China Re executives
11 June 2019
The Insurance Council of Australia met a group of visiting China Re executives last week…
Unis urged to raise game on cyber security
11 June 2019
The education sector must improve protection against data breaches given the sensitive data it holds, specialist insurance provider CFC Underwriting says…
Seismic company checks ‘pulse’ of NZ buildings
11 June 2019
New Zealand company Global Seismic Data says a sensor system that monitors the “pulse” of buildings to improve resilience will be introduced more widely in the country after an initial focus on Wellington…
NIBA backs intervention in northern market
03 June 2019
The National Insurance Brokers Association has called for a fresh examination of government intervention to address high premiums in northern Australia…
New laws present ‘big challenge’ for add-on policies
03 June 2019
Add-on insurance will be most affected when new product design and distribution laws take effect in April 2021, according to Finity…
Warm, dry winter on way after record-breaking summer
03 June 2019
Summer was a season of extremes, with record hot days and drought in parts of central NSW contrasting with all-time high rainfall in tropical regions, the Australian Actuaries Climate Index reveals…
Rising seas need new risk approach: researchers
03 June 2019
Airports and other critical coastal infrastructure should be subject to risk planning for higher sea level increases than previously expected, researchers at Risk Frontiers and Macquarie University warn…
ICA property hazards app goes live
03 June 2019
The Insurance Council of Australia has launched a mobile app detailing property hazard data for residents…
Consumer group flags Big Data concerns
03 June 2019
Increased use of Big Data could create an insurance affordability problem as the industry assesses risk at a “granular level”, the Financial Rights Legal Centre says…
Claims rise on the way as trade credit debts spike
03 June 2019
Insurance claims for bad business debt are expected to jump in the next few months as companies grapple with worsening trading credit conditions, a broker says…
Emergence urges action on ‘human hacking’ risk
03 June 2019
Digital crimes are on the rise partly because “humans are easier to hack” than computers, cyber insurer Emergence told about 1200 participants in a webinar…
Seafloor sensors monitor NZ ‘quake factory’
03 June 2019
The Earthquake Commission is funding the placement of two sensors on the seafloor at New Zealand’s largest plate boundary, to feed continuous readings to scientists over five years…
Townsville floods, Sydney hail sink industry earnings
27 May 2019
The industry’s underwriting profit fell 32.4% to $2.8 billion in the year to March 31 as earnings took a severe hit from the Townsville floods and Sydney hailstorm, latest Australian Prudential Regulation Authority figures show…
Australian resilience held back by cyber threat
27 May 2019
Australia is one of the most resilient nations in the world but could be exposed by “inherent cyber risk”, according to FM Global’s Resilience Index…
Far-right terrorism a ‘significant threat’ in region
27 May 2019
Australia and New Zealand face attacks from people with extreme right-wing ideologies, while the massacre at two Christchurch mosques has raised the threat of retaliatory action, Marsh warns…
Fewer customers switch insurers despite shopping around
27 May 2019
More customers are comparing providers before renewing insurance policies, yet fewer are deciding to switch after doing so, according to Roy Morgan research…
Queensland flood bill passes $1.2 billion
27 May 2019
The north Queensland monsoonal flood claims bill has reached $1.23 billion, according to latest figures from the Insurance Council of Australia…