insuranceNEWS.com.au - AnalysisGeneral insurance and financial services news from Australia and around the worldhttps://www.insurancenews.com.au/en-auWhy the billions spent on reinsurance is better than nothinghttps://www.insurancenews.com.au/analysis/why-the-billions-spent-on-reinsurance-is-better-than-nothinghttps://www.insurancenews.com.au/analysis/why-the-billions-spent-on-reinsurance-is-better-than-nothing<p>About 200 years ago, the reinsurance market was born when the first known contract between two German insurers was signed...</p>Mon, 01 Sep 2025 00:44:48 GMTSMEs need stronger AI protection to innovate freelyhttps://www.insurancenews.com.au/analysis/smes-need-stronger-ai-protection-to-innovate-freelyhttps://www.insurancenews.com.au/analysis/smes-need-stronger-ai-protection-to-innovate-freely<p>When most people think of technology companies at the forefront of AI, their minds go straight to household names &ndash; the multinationals that power platforms we rely on every day. But the reality is far more diverse...</p>Mon, 25 Aug 2025 01:31:56 GMTWorld on fire: Gallagher flags new era of riskhttps://www.insurancenews.com.au/analysis/world-on-fire-gallagher-flags-new-era-of-riskhttps://www.insurancenews.com.au/analysis/world-on-fire-gallagher-flags-new-era-of-risk<p>This northern hemisphere summer, the wildfire headlines just keep on coming...</p>Mon, 18 Aug 2025 02:22:38 GMT‘The shift we need’: home ratings part of the conversation on resiliencehttps://www.insurancenews.com.au/analysis/the-shift-we-need-home-ratings-become-part-of-the-conversation-on-resiliencehttps://www.insurancenews.com.au/analysis/the-shift-we-need-home-ratings-become-part-of-the-conversation-on-resilience<p>After its crushing win in the May election, productivity ranks high on the Albanese government&rsquo;s domestic agenda, and it is among key issues to be discussed at an economic summit in Canberra next week...</p>Mon, 11 Aug 2025 01:46:38 GMTThe unseen danger of internal labour hirehttps://www.insurancenews.com.au/analysis/the-unseen-danger-of-internal-labour-hirehttps://www.insurancenews.com.au/analysis/the-unseen-danger-of-internal-labour-hire<p>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&rsquo; compensation claims flowing through to general indemnity policies...</p>Mon, 04 Aug 2025 04:27:47 GMTThe credit hire crunch: why insurers must act nowhttps://www.insurancenews.com.au/analysis/the-credit-hire-crunch-why-insurers-must-act-nowhttps://www.insurancenews.com.au/analysis/the-credit-hire-crunch-why-insurers-must-act-now<p>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&rsquo;s insurer...</p>Fri, 25 Jul 2025 03:00:12 GMTFirst-half disasters keep pressure on affordabilityhttps://www.insurancenews.com.au/analysis/first-half-disasters-keep-pressure-on-affordabilityhttps://www.insurancenews.com.au/analysis/first-half-disasters-keep-pressure-on-affordability<p>Catastrophes in the first half of the year have again highlighted insurance affordability issues, as building costs remain high and taxes add to pressures...</p>Mon, 21 Jul 2025 02:40:12 GMTHow to cover homes that are turning into power plantshttps://www.insurancenews.com.au/analysis/how-to-cover-homes-that-are-turning-into-power-plantshttps://www.insurancenews.com.au/analysis/how-to-cover-homes-that-are-turning-into-power-plants<p>The traditional home of bricks, mortar and little else is becoming outdated as properties evolve to be sophisticated energy hubs &ndash; upending the way they will be insured...</p>Sun, 13 Jul 2025 22:42:19 GMTBack to the future: could a 1980s model fix state's affordability woes?https://www.insurancenews.com.au/analysis/back-to-the-future-could-a-1980s-model-fix-states-affordability-woeshttps://www.insurancenews.com.au/analysis/back-to-the-future-could-a-1980s-model-fix-states-affordability-woes<p>The industry is agog after Premier Jeremy Rockliff&rsquo;s announcement last week that, if re-elected this month, Tasmania will create a government-owned general insurer...</p>Mon, 07 Jul 2025 02:04:28 GMTAFCA finalises approach on misrepresentationshttps://www.insurancenews.com.au/analysis/afca-finalises-approach-on-misrepresentationshttps://www.insurancenews.com.au/analysis/afca-finalises-approach-on-misrepresentations<p>The industry ombudsman has released guidance on general insurance disputes relating to breaches of the duty to take reasonable care not to make misrepresentations &ndash; one of many reforms arising from the Hayne royal commission...</p>Fri, 27 Jun 2025 04:40:28 GMTEmbedded insurance: an old idea feels new again – and partnerships are keyhttps://www.insurancenews.com.au/analysis/embedded-insurance-an-old-idea-feels-new-again-and-partnerships-are-keyhttps://www.insurancenews.com.au/analysis/embedded-insurance-an-old-idea-feels-new-again-and-partnerships-are-key<p>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...</p>Mon, 23 Jun 2025 04:44:07 GMTWorld-first ransom reporting laws mean a rewrite of the cyber playbookhttps://www.insurancenews.com.au/analysis/world-first-ransom-reporting-laws-mean-a-rewrite-of-the-cyber-playbookhttps://www.insurancenews.com.au/analysis/world-first-ransom-reporting-laws-mean-a-rewrite-of-the-cyber-playbook<p>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...</p>Mon, 16 Jun 2025 00:11:35 GMTNSW is again cleaning up after major floods. Are we veering towards the collapse of insurability?https://www.insurancenews.com.au/analysis/nsw-is-again-cleaning-up-after-major-floods-are-we-veering-towards-the-collapse-of-insurabilityhttps://www.insurancenews.com.au/analysis/nsw-is-again-cleaning-up-after-major-floods-are-we-veering-towards-the-collapse-of-insurability<p>Once again, large parts of NSW have been devastated by floods...</p>Mon, 02 Jun 2025 01:02:51 GMT‘The game has changed’: Kelly defends commission stancehttps://www.insurancenews.com.au/analysis/the-game-has-changed-kelly-defends-commission-stancehttps://www.insurancenews.com.au/analysis/the-game-has-changed-kelly-defends-commission-stance<p>Some Steadfast brokers are on the warpath over the latest cut to commission levels &ndash; and their fury isn&rsquo;t just directed at the insurer concerned, but also their allegedly &ldquo;out of touch&rdquo; network chiefs for accepting the change...</p>Mon, 26 May 2025 00:40:46 GMTLloyd’s talks tough in a ‘fragile’ markethttps://www.insurancenews.com.au/analysis/lloyd-s-talks-tough-in-a-fragile-markethttps://www.insurancenews.com.au/analysis/lloyd-s-talks-tough-in-a-fragile-market<p>Moderating market conditions are presenting fresh challenges for Lloyd&rsquo;s, which has turned around its performance with a focus on underwriting discipline after some difficult years...</p>Mon, 19 May 2025 04:32:42 GMT‘Bring on the next 50 years’: ICA looks beyond milestonehttps://www.insurancenews.com.au/analysis/bring-on-the-next-50-years-ica-looks-beyond-milestonehttps://www.insurancenews.com.au/analysis/bring-on-the-next-50-years-ica-looks-beyond-milestone<p>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...</p>Mon, 12 May 2025 03:11:35 GMTBuilding AI foundations for the future of work in insurancehttps://www.insurancenews.com.au/analysis/building-ai-foundations-for-the-future-of-work-in-insurancehttps://www.insurancenews.com.au/analysis/building-ai-foundations-for-the-future-of-work-in-insurance<p>The recent surge in hype around artificial intelligence might lead some to believe it&rsquo;s a newcomer to industries such as insurance. In reality, AI has long been an integral part of the sector...</p>Mon, 05 May 2025 04:43:24 GMTI took my insurer to AFCA, and lost. But here’s what I learnthttps://www.insurancenews.com.au/analysis/i-took-my-insurer-to-afca-and-lost-but-here-s-what-i-learnthttps://www.insurancenews.com.au/analysis/i-took-my-insurer-to-afca-and-lost-but-here-s-what-i-learnt<p>I&rsquo;ll start this story by confessing a cardinal sin...</p>Mon, 28 Apr 2025 01:14:32 GMTHow brokers can make a big difference to micro-SMEshttps://www.insurancenews.com.au/analysis/how-brokers-can-make-a-big-difference-to-micro-smeshttps://www.insurancenews.com.au/analysis/how-brokers-can-make-a-big-difference-to-micro-smes<p>Micro-SMEs &ndash; businesses with fewer than 10 employees &ndash; play a vital role in the Australian economy, demonstrating resilience, adaptability and a drive for growth...</p>Mon, 14 Apr 2025 01:42:17 GMTUp and down: code report flags breach trendshttps://www.insurancenews.com.au/analysis/up-and-down-code-report-flags-breach-trendshttps://www.insurancenews.com.au/analysis/up-and-down-code-report-flags-breach-trends<p>Insurers reported 67,394 code breaches last financial year, down 13% on the previous period, and significant breaches also dropped, to 115 from 123...</p>Mon, 07 Apr 2025 01:34:50 GMT