Multi-peril crop market ‘failure’ as providers exit
29 April 2019
Australia’s long-struggling multi-peril crop insurance market has ground to a halt after an exodus of providers, according to a famers’ peak body…
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AIG travel policy tops Choice ranking
29 April 2019
AIG’s Good2Go The Works policy has gained the highest score in a Choice survey of travel insurance…
Class actions drive further D&O rate gains
29 April 2019
Class actions are continuing to drive up directors’ and officers’ insurance premiums amid heightened scrutiny of listed companies, according to Aon…
Fraudster reimburses Chubb
29 April 2019
A Perth businessman who was jailed for seven years after attempting a major insurance scam has paid Chubb $500,000…
New AFCA powers tipped to drive financial lines premiums
29 April 2019
Financial lines premiums may rise when the Australian Financial Complaints Authority starts accepting legacy disputes in July…
Drought continues in agricultural heartland
29 April 2019
There is no end in sight to the crippling drought that has devastated some rural areas…
Farms, abattoirs warned on vegan protests
29 April 2019
Increasing animal rights activism could raise insurance issues for farms, abattoirs and other food-chain producers, Gallagher has warned…
Catastrophe claims costs heading for $2.5 billion
29 April 2019
Claims costs from the three summer catastrophes continue to rise, according to Insurance Council of Australia data…
Australia ‘heavily exposed’ to secondary perils
15 April 2019
The hailstorm that hit Sydney last December was further confirmation of the growing risk to insurers from secondary natural perils, Swiss Re’s latest Sigma study says…
Townsville claims rise as coverage rows rumble on
15 April 2019
The number of claims lodged after the devastating Townsville floods in February has risen to 27,355, amounting to more than $1.13 billion…
Hawking reforms ‘must be handled with care’
15 April 2019
Hayne royal commission recommendations to strengthen anti-hawking laws must be given “careful consideration” to ensure changes don’t have a detrimental impact on the general insurance industry, Finity has warned…
Insurers’ apathy drives out NZ insurtechs
15 April 2019
Nearly all insurtechs in New Zealand are being forced to form partnerships with other start-ups or planning overseas expansion because local insurers as so apathetic…
In Insurance News magazine this month
15 April 2019
How will insurance brokers deal with the fallout from the Hayne royal commission? The latest edition of Insurance News, the industry’s most popular magazine, looks at the quandary for brokers struggling with the consequences of an inquiry they weren’t even invited to participate in…
ICA plays down spike in code breaches
15 April 2019
The Insurance Council of Australia and major insurers have rejected criticism of the industry’s performance following a 32% rise in code breaches last financial year…
Natural perils cost $13 billion a year
15 April 2019
Australian natural perils generate an average annual cost of $13.5 billion, including insurance losses and intangible impacts, actuarial consultant Finity says…
Industry missing out on data riches: tech expert
15 April 2019
Insurers have not yet unlocked insights from their unstructured data or leveraged it through the claims management chain, according to Gallagher Basset…
Insurers in dark on social risks: actuaries
15 April 2019
Social risk changes are being overlooked and should be more closely monitored by insurers through a formal review process, the Actuaries Institute warns…
Fire chiefs demand action on climate threat
15 April 2019
Former state fire and emergency services leaders have demanded a federal parliamentary inquiry into resourcing as natural disaster risks rise due to climate change…
Bushfire research body seeks funding extension
15 April 2019
The Bushfire and Natural Hazards Co-operative Research Centre is working to secure a new government grant before its funding term ends in two years…
Code committee slams ‘lip service’ on compliance
08 April 2019
Some insurers still do not take seriously their obligations to comply with the voluntary code of practice, Lynelle Briggs, the Chair of the General Insurance Code of Practice Governance Committee, has warned…