insuranceNEWS.com.au - Analysis

No holding back as code panel proposes sweeping upgrade

Mon, 09 Sep 2024 03:05:48 GMT

The independent panel reviewing the industry code of practice has pressed ahead with reform proposals targeting many of the problems highlighted during the federal flood inquiry...

Reinsurers head to Monte Carlo with ‘growing appetite’

Mon, 02 Sep 2024 03:48:01 GMT

The industry’s attention turns to Monte Carlo soon for the Rendez-Vous de Septembre, the annual talkfest on the state of the reinsurance market after the mid-year catastrophe renewals...

As more households feel premium squeeze, a systemic threat emerges

Mon, 26 Aug 2024 00:29:37 GMT

Half the population of southwest Queensland, NSW’s Northern Rivers, regional WA and the NT face home insurance premiums that exceed a month’s income...

Land use planning forum: 13 ways to build a better future

Mon, 19 Aug 2024 01:48:30 GMT

As pressure intensifies to provide enough housing for Australia’s growing population, authorities must resist the urge to build in the wrong places...

‘Mind-blowing’ results: how insurtech will change the industry

Mon, 12 Aug 2024 01:42:57 GMT

Almost 150 professionals heard from senior industry executives including the heads of Cover Genius, HDI Global, QBE Ventures and NTI at the Insurance News insurtech seminar in Sydney last week...

Flood inquiry: six months of soul searching, but where will it lead?

Mon, 05 Aug 2024 02:23:31 GMT

The federal government’s flood inquiry opened on January 31, and the last of 23 hearings took place on July 30. It has been a mammoth undertaking...

Falling flat: seven-year rising premium trend comes to an end

Mon, 29 Jul 2024 03:04:52 GMT

The premium landscape is shifting, with Marsh’s quarterly Global Insurance Market Index showing commercial rates were flat in the second quarter of this year...

CrowdStrike outage a ‘stark reminder’ of cyber threat

Mon, 22 Jul 2024 04:27:54 GMT

“This was not a cyberattack,” US cybersecurity firm CrowdStrike said on Friday, as it apologised for an outage that sparked global chaos...

Insurance and the metaverse: safeguarding virtual assets

Mon, 15 Jul 2024 03:45:26 GMT

Insurers are venturing into the thriving digital landscape of the metaverse, covering virtual assets, safeguarding intellectual property and protecting the wellbeing of users and avatars...

‘We need to talk about relocation’

Mon, 08 Jul 2024 01:53:17 GMT

An urgent national conversation about relocating the most at-risk homes is needed to address the growing threat of riverine flooding and rising sea levels, according to a new study...

‘There will be more’: code committee says first sanction not the last

Mon, 01 Jul 2024 03:36:28 GMT

The General Insurance Code Governance Committee warns more sanctions for breaches are coming – and it wants to name insurers routinely in its reporting...

Build resilience to lower premiums: another industry message cuts through

Mon, 24 Jun 2024 03:14:54 GMT

The Insurance Council of Australia and its members will be encouraged that another of its key recommendations to government is being acted upon, as a changing climate threatens the nation’s buildings and home premiums continue to rise...

‘Toxic’ fallout and digital dangers top Swiss Re risk rundown

Mon, 17 Jun 2024 00:57:14 GMT

The number one emerging risk to property and specialty underwriting lines is the “cascading” fallout from flood, fire and other natural perils, according to Swiss Re’s latest Sonar report...

Five key takeaways from our strata seminar

Mon, 03 Jun 2024 02:23:07 GMT

Insurance News held a half-day strata seminar in Sydney on Thursday, and more than 100 industry professionals attended...

Pooling in the same direction

Mon, 27 May 2024 03:45:12 GMT

After many years of insisting the only solution to insurance affordability challenges is to reduce the risk, the industry and federal government now admit something else is needed...

Motor complaints take pole position

Mon, 20 May 2024 02:22:33 GMT

Out of 28,698 general insurance complaints made to the dispute authority last year, 9565 related to comprehensive motor cover...

Intermediaries show ‘enduring strength’ in hard times

Sun, 12 May 2024 23:59:38 GMT

The Australian economy has slowed as sustained high interest rates take their toll, but it’s a different story for brokers and other insurance intermediaries...

The ‘troubling’ trends on code breaches

Mon, 06 May 2024 02:21:03 GMT

The General Insurance Code Governance Committee has released its latest statistics – and breaches have soared. insuranceNEWS.com.au has delved into the 38-page data and compliance report, which covers last financial year, to pull out the key trends...

AFCA examines its approach to disclosure

Mon, 29 Apr 2024 02:46:24 GMT

Since October 5 2021, the duty of disclosure has no longer applied to consumer insurance contracts, as a raft of Hayne-inspired regulatory changes have been introduced...

Vulnerability, enforcement and affordability on the table in code review

Mon, 22 Apr 2024 04:24:18 GMT

It doesn’t seem long since the 2020 General Insurance Code of Practice was released, but since then the industry has dealt with Hayne royal commission repercussions, a pandemic and record-breaking east coast flooding that’s now the focus of a parliamentary inquiry...