insuranceNEWS.com.au - LocalGeneral insurance and financial services news from Australia and around the worldhttps://www.insurancenews.com.au/en-auIndustry premium climbs towards $144 billionhttps://www.insurancenews.com.au/local/industry-premium-climbs-towards-144-billionhttps://www.insurancenews.com.au/local/industry-premium-climbs-towards-144-billion<p>Direct written premium in the Australian general insurance industry is projected to top $144 billion by 2029, according to GlobalData...</p>Mon, 23 Jun 2025 04:49:14 GMTNew Zealanders conflicted on risk pricing in climate crisishttps://www.insurancenews.com.au/local/new-zealanders-conflicted-on-risk-pricing-in-climate-crisishttps://www.insurancenews.com.au/local/new-zealanders-conflicted-on-risk-pricing-in-climate-crisis<p>IAG says New Zealanders hold a &ldquo;conflicting set of expectations&rdquo; on insurers&rsquo; obligation to cover locations facing higher risk of natural disasters...</p>Mon, 23 Jun 2025 04:49:02 GMTLawyer service helps hundreds of flood victims as demand surgeshttps://www.insurancenews.com.au/local/lawyer-service-helps-hundreds-of-flood-victims-as-demand-surgeshttps://www.insurancenews.com.au/local/lawyer-service-helps-hundreds-of-flood-victims-as-demand-surges<p>Legal Aid NSW says lawyers from its disaster response service have seen more than 500 clients since May 19 in relation to floods in the Mid North Coast, Hunter and Greater Sydney areas...</p>Mon, 23 Jun 2025 04:48:47 GMTHungry roos drive up car crash numbershttps://www.insurancenews.com.au/local/hungry-roos-drive-up-car-crash-numbershttps://www.insurancenews.com.au/local/hungry-roos-drive-up-car-crash-numbers<p>Vehicle crashes with kangaroos have increased over the past two years as low rainfall forces the marsupials to seek food outside their usual habitats, SA motoring club RAA says...</p>Mon, 23 Jun 2025 04:48:33 GMTBrooksight warns on rise in staged motor claimshttps://www.insurancenews.com.au/local/brooksight-warns-on-rise-in-staged-motor-claimshttps://www.insurancenews.com.au/local/brooksight-warns-on-rise-in-staged-motor-claims<p>Brooksight Investigations is holding specialised training for its national team amid a rise in staged motor accidents designed to defraud insurers...</p>Mon, 23 Jun 2025 04:48:11 GMTInsurance Council returns to hail-damaged townhttps://www.insurancenews.com.au/local/insurance-council-returns-to-hail-damaged-townhttps://www.insurancenews.com.au/local/insurance-council-returns-to-hail-damaged-town<p>The Insurance Council of Australia will revisit the west Victorian town of Casterton next month to hold two consultation days concerning last October&rsquo;s hailstorm...</p>Mon, 23 Jun 2025 04:47:48 GMTPerils cuts Alfred loss estimatehttps://www.insurancenews.com.au/local/perils-cuts-alfred-loss-estimatehttps://www.insurancenews.com.au/local/perils-cuts-alfred-loss-estimate<p>Catastrophe data group Perils has lowered its loss estimate for Cyclone Alfred by 12% to $2.25 billion, partly reflecting the volume of food spoilage claims...</p>Mon, 16 Jun 2025 04:38:48 GMTWillis guides clients on ransom payment rulehttps://www.insurancenews.com.au/local/willis-guides-clients-on-ransom-payment-rulehttps://www.insurancenews.com.au/local/willis-guides-clients-on-ransom-payment-rule<p>New disclosure laws increase the potential for regulatory liability associated with ransomware incidents, Willis is warning clients...</p>Mon, 16 Jun 2025 04:38:36 GMTAFCA sides with claimants in crack quarrelhttps://www.insurancenews.com.au/local/afca-sides-with-claimants-in-crack-quarrelhttps://www.insurancenews.com.au/local/afca-sides-with-claimants-in-crack-quarrel<p>Homeowners who sought a payout for wall crack damage have won a claim dispute after the complaints authority rejected their insurer&rsquo;s applied exclusions...</p>Mon, 16 Jun 2025 04:38:22 GMTIn Insurance News magazine this monthhttps://www.insurancenews.com.au/local/in-insurance-news-magazine-this-monthhttps://www.insurancenews.com.au/local/in-insurance-news-magazine-this-month<p>Cyclone Alfred failed to live up to the worst-case scenario &ndash; but it was still a significant loss event and a warning shot that can&rsquo;t be ignored...</p>Mon, 16 Jun 2025 04:37:53 GMTMTAA forum invites smash repair code feedbackhttps://www.insurancenews.com.au/local/mtaa-forum-invites-smash-repair-code-feedbackhttps://www.insurancenews.com.au/local/mtaa-forum-invites-smash-repair-code-feedback<p>The Motor Trades Association of Australia will hold an online forum for industry members to provide input on its forthcoming insurance repairs code of conduct revamp...</p>Mon, 16 Jun 2025 02:30:59 GMTIndustry makes $1 billion profit as pressure remains on householdershttps://www.insurancenews.com.au/local/industry-makes-1-billion-profit-as-pressure-remains-on-householdershttps://www.insurancenews.com.au/local/industry-makes-1-billion-profit-as-pressure-remains-on-householders<p>The industry made a net profit after tax of $1.11 billion in the March quarter, with insurers contributing $990 million and reinsurers $123 million, according to the latest Australian Prudential Regulation Authority data...</p>Mon, 02 Jun 2025 05:00:26 GMTNSW flood claims pass 8700 with recovery under wayhttps://www.insurancenews.com.au/local/nsw-flood-claims-pass-8700-with-recovery-under-wayhttps://www.insurancenews.com.au/local/nsw-flood-claims-pass-8700-with-recovery-under-way<p>The number of NSW flood claims lodged has climbed to 8726, the Insurance Council of Australia said this afternoon...</p>Mon, 02 Jun 2025 05:00:06 GMT‘Prolonged drought’ poses fire risk in Victoria, SAhttps://www.insurancenews.com.au/local/prolonged-drought-poses-fire-risk-in-victoria-sahttps://www.insurancenews.com.au/local/prolonged-drought-poses-fire-risk-in-victoria-sa<p>Parts of west, central and southeast Victoria and the southern coast of SA are expected to have increased bushfire risk over winter...</p>Mon, 02 Jun 2025 03:59:28 GMTICA wants regulator backing for common definitionshttps://www.insurancenews.com.au/local/ica-wants-regulator-backing-for-common-definitionshttps://www.insurancenews.com.au/local/ica-wants-regulator-backing-for-common-definitions<p>The Insurance Council of Australia will this year seek regulatory approval for standard policy definitions of home maintenance and wear and tear, as it also moves ahead with a revamp of the industry code of practice...</p>Mon, 02 Jun 2025 03:38:17 GMTRisk officers on alert over cybersecurity, conducthttps://www.insurancenews.com.au/local/risk-officers-concerned-on-alert-over-cybersecurity-conducthttps://www.insurancenews.com.au/local/risk-officers-concerned-on-alert-over-cybersecurity-conduct<p>Asia-Pacific chief risk officers rank cybersecurity as their top concern, while conduct and operational resilience are also among their leading worries...</p>Mon, 02 Jun 2025 03:38:08 GMTNZ insurers suffer reputation hit amid cost criseshttps://www.insurancenews.com.au/local/nz-insurers-suffer-reputation-hit-amid-cost-criseshttps://www.insurancenews.com.au/local/nz-insurers-suffer-reputation-hit-amid-cost-crises<p>A survey has revealed growing mistrust of insurers in New Zealand as consumers continue to flag affordability concerns...</p>Mon, 02 Jun 2025 03:37:48 GMTNSW flood claims escalate as recovery beginshttps://www.insurancenews.com.au/local/nsw-flood-claims-escalate-as-recovery-beginshttps://www.insurancenews.com.au/local/nsw-flood-claims-escalate-as-recovery-begins<p>Insurers have received more than 4100 claims, with numbers rising quickly, following the severe flooding across the NSW Mid North Coast, Hunter and Greater Sydney regions...</p>Mon, 26 May 2025 04:59:25 GMT‘Hard pill to swallow’: premium disparity maps out Sydney flood threathttps://www.insurancenews.com.au/local/hard-pill-to-swallow-premium-disparity-maps-out-sydney-flood-threathttps://www.insurancenews.com.au/local/hard-pill-to-swallow-premium-disparity-maps-out-sydney-flood-threat<p>Residents in the Hawkesbury region face the highest average home insurance premiums across Sydney&rsquo;s 24 local government areas, at $7033 a year, analysis by Finity reveals...</p>Mon, 26 May 2025 04:36:25 GMTStaffing, cyber threats keep insurance SMEs up at nighthttps://www.insurancenews.com.au/local/staffing-cyber-threats-keep-insurance-smes-up-at-nighthttps://www.insurancenews.com.au/local/staffing-cyber-threats-keep-insurance-smes-up-at-night<p>Small business owners in the insurance and finance sector are more worried about cyberattacks and staff turnover and shortages than a year ago, a survey has found...</p>Mon, 26 May 2025 04:22:06 GMT