General insurance and financial services news from Australia and around the worldhttps://www.insurancenews.com.au/en-auhttps://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 GMThttps://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 GMThttps://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 GMThttps://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 GMThttps://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 GMThttps://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 GMThttps://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 GMThttps://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 GMThttps://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 GMThttps://www.insurancenews.com.au/local/natural-hazard-recovery-costs-drag-on-nz-economy-iaghttps://www.insurancenews.com.au/local/natural-hazard-recovery-costs-drag-on-nz-economy-iag<p>New Zealand has recorded $NZ64 billion ($59.08 billion) of natural hazard costs since 2010, with expenditure favouring recovery rather than long-term resilience, according to IAG</p>Mon, 26 May 2025 04:21:55 GMThttps://www.insurancenews.com.au/local/cyclone-pool-delivering-price-cutshttps://www.insurancenews.com.au/local/cyclone-pool-delivering-price-cuts<p>The cyclone reinsurance pool is bringing significant premium reductions for homeowners in the highest-risk areas and affordability benefits for small businesses, an analysis has shown...</p>Mon, 19 May 2025 02:35:53 GMThttps://www.insurancenews.com.au/local/cyber-threat-tipped-to-rise-as-data-breaches-reach-new-heights-https://www.insurancenews.com.au/local/cyber-threat-tipped-to-rise-as-data-breaches-reach-new-heights-<p>Data breaches reported by businesses and government agencies climbed to a record number last year, driven by criminal attacks...</p>Mon, 19 May 2025 02:35:37 GMThttps://www.insurancenews.com.au/local/companies-underrating-climate-threat-study-showshttps://www.insurancenews.com.au/local/companies-underrating-climate-threat-study-shows<p>Many Australian businesses consider climate risk a &ldquo;slow burner&ldquo; and give greater priority to other threats, according to a new report...</p>Mon, 19 May 2025 02:35:24 GMThttps://www.insurancenews.com.au/local/help-us-shape-the-future-of-insurance-news-and-enter-500-drawhttps://www.insurancenews.com.au/local/help-us-shape-the-future-of-insurance-news-and-enter-500-draw<p>Insurance News is once again asking readers to help set the future direction of our publications by taking part in a short survey...</p>Mon, 19 May 2025 02:35:03 GMThttps://www.insurancenews.com.au/local/ica-celebrates-50-years-at-annual-dinnerhttps://www.insurancenews.com.au/local/ica-celebrates-50-years-at-annual-dinner<p>Almost 400 people attended the Insurance Council of Australia&rsquo;s annual dinner at Sydney Town Hall on Thursday...</p>Mon, 12 May 2025 04:23:57 GMThttps://www.insurancenews.com.au/local/alfred-losses-top-1-2-billionhttps://www.insurancenews.com.au/local/alfred-losses-top-1-2-billion<p>Insured losses from Ex-Tropical Cyclone Alfred have reached $1.236 billion, the Insurance Council of Australia says...</p>Mon, 12 May 2025 04:21:32 GMThttps://www.insurancenews.com.au/local/hail-corridors-shift-with-climate-drivers-research-showshttps://www.insurancenews.com.au/local/hail-corridors-shift-with-climate-drivers-research-shows<p>Large hailstorms are significantly more likely in southeast Australia during La Nina periods than in El Nino ones, while shifts between the climate drivers affect event locations, forecaster Weatherwatch says...</p>Mon, 12 May 2025 04:13:13 GMThttps://www.insurancenews.com.au/local/travel-alert-as-flight-cancellation-rates-climbhttps://www.insurancenews.com.au/local/travel-alert-as-flight-cancellation-rates-climb<p>RACV has urged travellers to be mindful of their insurance coverage after new data showed the number of flight cancellations has grown to exceed historical averages...</p>Mon, 12 May 2025 04:12:35 GMThttps://www.insurancenews.com.au/local/industry-calls-for-future-focus-after-labor-landslidehttps://www.insurancenews.com.au/local/industry-calls-for-future-focus-after-labor-landslide<p>Insurers and brokers are targeting a constructive relationship with the federal government after Prime Minister Anthony Albanese led Labor to an emphatic victory in Saturday&rsquo;s election...</p>Mon, 05 May 2025 04:49:11 GMThttps://www.insurancenews.com.au/local/federal-court-to-hear-gym-s-covid-bi-casehttps://www.insurancenews.com.au/local/federal-court-to-hear-gym-s-covid-bi-case<p>A covid-related business interruption dispute between a Victorian fitness centre and Hollard is scheduled for a Federal Court trial on June 10-11...</p>Mon, 05 May 2025 04:49:03 GMT