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Finity/Insurance News market update available to download

Mon, 28 Apr 2025 05:00:18 GMT

A free digital copy of a 26-page market update report put together by actuarial consultants Finity and Insurance News can now be downloaded...

Pacific property rates decline 9% in quarter: Marsh

Mon, 28 Apr 2025 04:51:45 GMT

Commercial property rates in the Australia-dominated Pacific region declined 9%, as a slide continued to gather pace, the latest Marsh Global Insurance Market Index shows...

Alfred 'worst cyclone since Tracy'

Mon, 28 Apr 2025 04:48:08 GMT

Catastrophe data specialist Perils says Alfred is the largest cyclone loss event since Tracy hit Darwin in 1974, as insured losses pass $2.56 billion...

Watchdog sets new date for RACQ, RAA deal findings

Mon, 28 Apr 2025 04:45:27 GMT

The Australian Competition and Consumer Commission is planning to next month release findings on the proposed IAG and Allianz acquisitions of motoring club insurance operations after previously extending the review timeframe...

‘Absurd’: brokers continue to bag commission consent law

Mon, 28 Apr 2025 04:45:14 GMT

General insurance intermediaries have continued to attack new commission consent requirements, following an article published in our broker newsletter last week...

Reviews, disaster responses dent ICA result

Mon, 28 Apr 2025 04:44:30 GMT

The Insurance Council of Australia recorded an operating loss of $1.94 million last year as responses to reviews and late 2023 catastrophes added to expenses...

Chubb appoints Asia-Pacific accident and health chief

Mon, 28 Apr 2025 04:44:16 GMT

Janene Blizzard has been promoted to Asia-Pacific head of accident and health at Chubb...

Execs prepare for charity sleepout

Mon, 28 Apr 2025 04:44:01 GMT

Insurance bosses will take part in the 20th annual Vinnies CEO Sleepout, held on one of the year’s coldest nights to support Australians vulnerable to homelessness...

SCA announces national code of ethics

Mon, 28 Apr 2025 04:41:10 GMT

The Strata Community Association says it will create a national code of ethics for the industry, addressing issues such as commissions and transparency...

Howden hires former Rio Tinto exec to head surety business

Mon, 28 Apr 2025 04:36:26 GMT

Howden Insurance Brokers says Tony Cengic has joined as head of surety, based in Melbourne...

Opportunity for ACT to act on insurance access: ICA

Mon, 28 Apr 2025 04:34:57 GMT

The Insurance Council of Australia has outlined “immediate actions” the ACT government can take to help address rising insurance costs, particularly for small businesses and not-for-profit organisations...

AI inaccuracy a ticking claim bomb, lawyer warns

Mon, 28 Apr 2025 03:49:42 GMT

Mistakes made by artificial intelligence may take years to be discovered and may cost insurers dearly due to unintended cover, Clyde & Co partner Darryl Smith says...

IA calls for ‘game-changing’ R&D framework

Mon, 28 Apr 2025 03:49:23 GMT

An increase in long-term funding is essential for research and development in Australia to match global competitors, the insurtech peak body says...

US fires and storms drive second highest Q1 loss: Aon

Mon, 28 Apr 2025 03:48:39 GMT

Global insured losses from natural disasters were the second highest on record for the first quarter, according to Aon, with an estimated $US53 billion ($83.04 billion) paid out by insurers...

Extreme weather knowledge gap ‘threatens energy transition’

Mon, 28 Apr 2025 03:47:49 GMT

Unmodelled extreme weather risks are a “defining challenge” for renewable energy markets, according to sector underwriter GCube Insurance...

Swiss Re names new CRO

Mon, 28 Apr 2025 03:47:37 GMT

Bernhard Kaufmann has been appointed group chief risk officer at Swiss Re, replacing the retiring Patrick Raaflaub from October...

NZ severe storms added to Perils database

Mon, 28 Apr 2025 03:45:01 GMT

Catastrophe data specialist Perils has added severe convective storms in New Zealand, Japan and Europe to its industry exposure database...

‘Save eight hours a week’:1Fort attracts $11 million

Mon, 28 Apr 2025 03:37:31 GMT

US insurtech 1Fort has raised $US7.5 million ($11.72 million) for its artificial intelligence platform, which it says saves brokers up to two hours per submission and increases their bind rate by up to a fifth on average...

Scouts ACT calls for public insurance option

Mon, 28 Apr 2025 03:28:15 GMT

A government-backed insurance scheme should be established in the Australian Capital Territory to provide affordable cover to community organisations, says Scouts ACT, as insurance costs reach a quarter of its operational budget...

Director fined over invalid home indemnity insurance

Mon, 28 Apr 2025 03:09:52 GMT

A WA director who misused his father’s building contractor credentials has been fined $20,000 after pleading guilty to several offences, including invalid home indemnity insurance...