insuranceNEWS.com.au - Analysis

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...

How brokers can make a big difference to micro-SMEs

Mon, 14 Apr 2025 01:42:17 GMT

Micro-SMEs – businesses with fewer than 10 employees – play a vital role in the Australian economy, demonstrating resilience, adaptability and a drive for growth...

Up and down: code report flags breach trends

Mon, 07 Apr 2025 01:34:50 GMT

Insurers reported 67,394 code breaches last financial year, down 13% on the previous period, and significant breaches also dropped, to 115 from 123...

Cyclone pool inquiry sets out recommendations

Mon, 31 Mar 2025 02:00:32 GMT

A parliamentary inquiry into the operation and implementation of the cyclone reinsurance pool has published its final report, more than two years after it was launched...

‘Vague’ response to probes leaves consumer groups wanting more

Mon, 24 Mar 2025 02:30:12 GMT

The Insurance Council of Australia’s response to recommendations from the code review and federal floods inquiry set out its thinking on reforms, but also led to claims it is kicking too many cans down the road...

When it comes to intervention, the answer is to deepen the pool

Sun, 16 Mar 2025 22:27:32 GMT

The recent LA bushfires sent shockwaves through the insurance industry that will be felt around the world this year, with Victorian fires and Queensland floods causing further pain here in Australia...

The downside of high-end insurance pay

Mon, 10 Mar 2025 00:00:34 GMT

People who work in insurance are on average paid substantially more than their counterparts in other Australian industries, new data shows...

Sweet 16: ICA lists ways to tackle soaring premiums

Mon, 03 Mar 2025 01:36:35 GMT

The Insurance Council of Australia’s federal election platform contains “a big idea to combat a big problem”, calling for more than $30 billion in government cash to tackle floods...

Sleeping giants awaken: how insurtech is picking up the pace

Sun, 23 Feb 2025 23:32:45 GMT

“The biggest single complaint I hear from insurtech and insurers alike is how slow the insurance sector is.” This insight, from Insurtech Australia CEO Simone Dossetor, was shared last week with a 320-strong crowd at InsurtechLIVE in Sydney...

Breaking up insurance giants ‘no silver bullet’

Mon, 17 Feb 2025 03:20:34 GMT

Opposition Leader Peter Dutton has threatened to force divestment in the insurance market as premium costs spiral – but the industry says it won’t help consumers because coverage issues are caused by rising risks, not a lack of competition...

How to grow: EY outlook maps ‘multiple pathways’

Mon, 10 Feb 2025 00:32:59 GMT

A global insurance outlook from consultancy EY outlines strategies for growth in a softening market, as industry players look to maintain positive momentum...

What’s in a name? Quite a lot, say brokers fuming over anonymous penalty

Mon, 03 Feb 2025 02:04:30 GMT

The General Insurance Code Governance Committee is finally showing its enforcement teeth as it uses one of its strongest sanctions to punish an errant insurer for the second time in eight months...

2800 stories in 2024 – and here are your favourites

Mon, 16 Dec 2024 03:27:20 GMT

It’s been a busy year in the insurance industry, and the team at insuranceNEWS.com.au has published almost 2800 articles so far...

‘Significant blind spots’: regulator turns up heat on complaints failings

Mon, 09 Dec 2024 01:49:38 GMT

The corporate regulator has demanded insurers act immediately on complaints handling failings, toughening its messaging as the three-year anniversary of the Queensland and northern NSW floods approaches...

‘A mystery to outsiders’: the good, the bad and the ugly of insurance work

Sun, 01 Dec 2024 23:56:29 GMT

A simple, open-ended question in this year’s Insurance News wellbeing survey – “Can you tell us what you do and don’t like about working in insurance?” – garnered almost 1100 anonymous and frank replies...