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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...

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...

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...

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...

Errol crosses WA coastline as tropical low

Mon, 28 Apr 2025 02:44:41 GMT

Cyclone Errol, which reached category 4 strength before Easter, crossed the WA Kimberley coastline as a tropical low in a sparsely populated region...

One in three Kiwis changed insurers in last five years: ICNZ

Mon, 28 Apr 2025 02:34:41 GMT

An Insurance Council of New Zealand survey has revealed that 20% of residents switched insurers in the past two years...

Automotive group suggests smash repair code improvements

Mon, 28 Apr 2025 02:25:17 GMT

The Federal Chamber of Automotive Industries has delivered a list of recommendations as part of its response to the proposed review of the Motor Vehicle Insurance and Repair Industry Code of Conduct...

Labor home loan plan threatens to kill off LMI market: ICA

Mon, 14 Apr 2025 04:42:17 GMT

A Labor election pledge to guarantee low-deposit loans for all first home buyers could make the lenders’ mortgage insurance market unviable and expose taxpayers to billions of dollars in losses in a housing downturn, the Insurance Council of Australia warns...

Home maintenance checks ‘off the agenda’

Mon, 14 Apr 2025 04:41:55 GMT

Allianz says 84% of Australian homeowners do not perform home maintenance checks often enough, even as damage from burst pipes cost $864 million in the past two years...

‘X-ray for the earth’ to unlock supervolcano secrets

Mon, 14 Apr 2025 04:41:15 GMT

Researchers are using radar technology to examine the seismic history of New Zealand’s only “supervolcano”...

Cyclone expected to steer clear of WA coast

Mon, 14 Apr 2025 04:40:42 GMT

A tropical low that is forecast to reach cyclone strength off the WA coastline is expected to remain offshore and travel west as it intensifies...

Jet ski safety record ‘belies disappointing headlines’

Mon, 14 Apr 2025 04:40:27 GMT

Most jet ski riders are “committed to safety” and follow guidelines and responsible boating practices, Club Marine says...

ICA nears deal to donate cars for firefighter training

Mon, 14 Apr 2025 03:11:59 GMT

The Insurance Council of Australia and Fire and Rescue NSW are discussing a partnership in which insurers would provide wrecked vehicles to help with emergency worker training...

Insurer code committee reports ‘signs of improvement’

Mon, 07 Apr 2025 04:34:57 GMT

The General Insurance Code Governance Committee says a fall in the number of breaches of key obligations suggests “signs of improvement” in compliance frameworks...

Data blind spots ‘hamper resilience efforts’

Mon, 07 Apr 2025 04:34:46 GMT

Insurers, communities and policymakers will be “flying blind” without greater climate data and modelling, particularly at a granular level, experts warn...

Alfred losses at $1 billion as industry eyes fresh Queensland floods

Mon, 07 Apr 2025 04:34:18 GMT

More than 95,000 claims have been lodged following Ex-Tropical Cyclone Alfred, with the loss total nearing $1 billion, according to the latest Insurance Council of Australia figures...

NSW urged to push through strata commission ban

Mon, 07 Apr 2025 04:33:22 GMT

Strata owner and consumer groups have urged the NSW government to press ahead with the removal of strata manager insurance commissions...

‘Way of life for millions:’ strata value hits $1.4 trillion

Mon, 07 Apr 2025 04:33:07 GMT

The insured value of strata properties in Australia has reached an estimated $1.4 trillion, an industry report says...

ICA welcomes Coalition plan on red tape, tradie recruitment

Sun, 06 Apr 2025 23:15:27 GMT

Insurers have backed Coalition plans to ease regulatory costs, invest in apprenticeships and change the prudential regulator’s capital settings for loans backed by lenders’ mortgage insurance...