insuranceNEWS.com.au - Analysis

Navigating CPS 230: the new reality for underwriting agencies

Mon, 15 Sep 2025 04:14:33 GMT

The prudential regulator’s game-changing operational resilience standard leaves agencies walking a fine line between their own needs and those of insurers...

Comparators on steroids: AI insurance shopping is on the way

Mon, 08 Sep 2025 03:19:30 GMT

The insurance sector is experiencing an AI revolution. Insurers are investing heavily to automate back office functions, accelerate claims processing, detect fraud and personalise offerings. However, there are signs another, external, revolution is taking place...

Why the billions spent on reinsurance is better than nothing

Mon, 01 Sep 2025 00:44:48 GMT

About 200 years ago, the reinsurance market was born when the first known contract between two German insurers was signed...

SMEs need stronger AI protection to innovate freely

Mon, 25 Aug 2025 01:31:56 GMT

When most people think of technology companies at the forefront of AI, their minds go straight to household names – the multinationals that power platforms we rely on every day. But the reality is far more diverse...

World on fire: Gallagher flags new era of risk

Mon, 18 Aug 2025 02:22:38 GMT

This northern hemisphere summer, the wildfire headlines just keep on coming...

‘The shift we need’: home ratings part of the conversation on resilience

Mon, 11 Aug 2025 01:46:38 GMT

After its crushing win in the May election, productivity ranks high on the Albanese government’s domestic agenda, and it is among key issues to be discussed at an economic summit in Canberra next week...

The unseen danger of internal labour hire

Mon, 04 Aug 2025 04:27:47 GMT

Companies set up internal labour hire arrangements to achieve flexibility and reduce costs, but they rarely think of the insurance implications, which is leading to a growing risk of workers’ compensation claims flowing through to general indemnity policies...

The credit hire crunch: why insurers must act now

Fri, 25 Jul 2025 03:00:12 GMT

Australian motor insurers face a growing challenge from credit hire companies, which provide replacement vehicles to drivers involved in no-fault accidents, with costs recovered from the at-fault party’s insurer...

First-half disasters keep pressure on affordability

Mon, 21 Jul 2025 02:40:12 GMT

Catastrophes in the first half of the year have again highlighted insurance affordability issues, as building costs remain high and taxes add to pressures...

How to cover homes that are turning into power plants

Sun, 13 Jul 2025 22:42:19 GMT

The traditional home of bricks, mortar and little else is becoming outdated as properties evolve to be sophisticated energy hubs – upending the way they will be insured...

Back to the future: could a 1980s model fix state's affordability woes?

Mon, 07 Jul 2025 02:04:28 GMT

The industry is agog after Premier Jeremy Rockliff’s announcement last week that, if re-elected this month, Tasmania will create a government-owned general insurer...

AFCA finalises approach on misrepresentations

Fri, 27 Jun 2025 04:40:28 GMT

The industry ombudsman has released guidance on general insurance disputes relating to breaches of the duty to take reasonable care not to make misrepresentations – one of many reforms arising from the Hayne royal commission...

Embedded insurance: an old idea feels new again – and partnerships are key

Mon, 23 Jun 2025 04:44:07 GMT

Integrating insurance directly into the purchase journey for goods and services promises to remove friction, lower distribution costs and deliver a much better customer experience...

World-first ransom reporting laws mean a rewrite of the cyber playbook

Mon, 16 Jun 2025 00:11:35 GMT

Ransom payments can no longer be made in the shadows, free from scrutiny, after Australia became the first country to require that sums paid to cybercriminals be reported to the government...

NSW is again cleaning up after major floods. Are we veering towards the collapse of insurability?

Mon, 02 Jun 2025 01:02:51 GMT

Once again, large parts of NSW have been devastated by floods...

‘The game has changed’: Kelly defends commission stance

Mon, 26 May 2025 00:40:46 GMT

Some Steadfast brokers are on the warpath over the latest cut to commission levels – and their fury isn’t just directed at the insurer concerned, but also their allegedly “out of touch” network chiefs for accepting the change...

Lloyd’s talks tough in a ‘fragile’ market

Mon, 19 May 2025 04:32:42 GMT

Moderating market conditions are presenting fresh challenges for Lloyd’s, which has turned around its performance with a focus on underwriting discipline after some difficult years...

‘Bring on the next 50 years’: ICA looks beyond milestone

Mon, 12 May 2025 03:11:35 GMT

The Insurance Council of Australia was established on July 1 1975, succeeding the Fire Accident and Marine Underwriters Association, which traced its origins back to 1867...

Building AI foundations for the future of work in insurance

Mon, 05 May 2025 04:43:24 GMT

The recent surge in hype around artificial intelligence might lead some to believe it’s a newcomer to industries such as insurance. In reality, AI has long been an integral part of the sector...

I took my insurer to AFCA, and lost. But here’s what I learnt

Mon, 28 Apr 2025 01:14:32 GMT

I’ll start this story by confessing a cardinal sin...