Daily

Townsville losses rising as insurers reassure flood victims

15 February 2019

Losses from the Townsville floods have risen quickly to at least $606 million as claims continue to pour in...

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Cattle deaths: $5 billion loss ‘largely uninsured’

15 February 2019

Devastating flooding in Queensland’s northwest is feared to have killed about 500,000 cattle and left farmers with estimated costs of $5 billion – but most is not covered by insurance...

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‘Harsh’ penalties: legislation unleashes ASIC

15 February 2019

The Australian Securities and Investments Commission is to pursue longer prison terms and higher financial penalties for misconduct after key reforms passed the Senate last night...

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Townsville businesses ‘not covered for flood’

14 February 2019

Hundreds of business owners in Townsville could face ruin after they chose not to take out flood cover prior to the devastating storms that hit the North Queensland city...

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Sydney storm, regulatory costs sink Suncorp earnings

14 February 2019

Suncorp first-half group net profit has fallen 44.7% to $250 million from a year earlier, with the giant insurer blaming the sharp decline on the Sydney hailstorm and unforeseen regulatory costs linked to the Hayne royal commission...

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The biggest challenge: keeping up with cyber risk

14 February 2019

The greatest cyber security challenge is simply keeping up with the rapidly evolving threat, Aon said today...

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Too small to fail? SMEs underestimate their cyber exposure

13 February 2019

A survey of SMEs released by Chubb today reveals a significant “perception gap” in cyber awareness that is putting businesses at risk...

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NSW bushfires destroy homes

13 February 2019

Bushfires have destroyed homes in NSW as they burn out of control across northern parts of the state amid hot, dry and windy conditions...

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EQC shake-up: public insurer takes greater share of risk

13 February 2019

New Zealand’s parliament has passed significant changes to the way the Earthquake Commission works – including raising the cap for residential building cover from $NZ100,000 to $NZ150,000.

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Johns Lyng launches strata division

12 February 2019

Emergency and insurance building specialist Johns Lyng Group today announced a new strata services division to focus on building and restoration repairs for strata insurers...

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StarStone appoints Agile as its Australia agent

12 February 2019

Lloyd’s underwriter StarStone has appointed Agile Underwriting Services as its Australia and New Zealand representative agent as the global specialty insurer pulls back from having its own operations in the market...

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Colleagues mourn senior adjuster’s road death

12 February 2019

The staff at national loss adjusting company Technical Assessing are mourning the loss of Victoria State Manager Steve Mann, who was killed on Sunday in a motorcycle accident...

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Royal commission: It’s all about ‘short-term pain, long-term gain’

8 February 2019

The Hayne royal commission will lead to short-term challenges for Australian insurers, says ratings agency Fitch...

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Code breaches may trigger tougher response after Hayne

8 February 2019

Insurers that breach the next version of the General Insurance Code of Practice may be dealt with more severely after Commissioner Kenneth Hayne criticised the current approach and proposed extended sanction powers...

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Nationwide cladding ban: Resistance and frustration

8 February 2019

The Victorian Government is pushing for a national ban on combustible cladding, days after a Melbourne building fire that is believed to have been fuelled by the controversial materials...

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Black Saturday fires ‘could happen again’

7 February 2019

It is “inevitable” that conditions as bad as those which led to the terrible Black Saturday bushfires 10 years ago will occur again, experts claim...

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QBE launches new customer service approach

7 February 2019

QBE says it is overhauling its approach to customer service and feedback in response to shifting customer expectations...

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NIBA appoints new leadership team

7 February 2019

The National Insurance Brokers Association has appointed Vice President Eric Harris as its new President, replacing Tim Wedlock, who will remain on the board...

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Hayne report ‘opens door for insurtechs’

6 February 2019

The Hayne royal commission’s final report could spark a revolution in the insurance sector, according to an insurtech developer...

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Wild weather: Better get used to it

6 February 2019

Extreme weather events like the once-in-a-century floods in Townsville are becoming the “new normal” in Australia as the planet becomes hotter, the Climate Council says in a report released today...

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