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Analysis

Recovery reset: after a false start better results beckon

25 October 2021

An expected recovery in insurers’ profitability didn’t go to plan last financial year but with premiums rising and pandemic business interruption claim risks factored in, the anticipated rebound is likely back on track...

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To pay or not to pay? Ransomware blame game ramps up

18 October 2021

Insurers can be an easy target when things go wrong – and responses to the current ransomware epidemic illustrate the point perfectly...

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Welcome surprise: BI test case delivers win for insurers, but appeal looms

11 October 2021

After the shock of losing the first business interruption test launched last year there must have been much industry relief on Friday as the Federal Court handed down a judgment that went overwhelmingly in favour of insurers...

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Earthquake shakes up risk complacency

4 October 2021

The partial collapse of a building front in Melbourne and shaking felt in several states following the Victorian earthquake is a warning against complacency about a risk for which Australians are generally unprepared...

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Different tack: Trowbridge recommends broker commissions continue

27 September 2021

The topic of broker commissions receives some different treatment in the Trowbridge report released by the Insurance Council of Australia, compared with other recent reviews that have raised industry hackles...

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'Morally wrong': landlord insurers' practices under spotlight

20 September 2021

Actions matter a whole lot more in the post-Hayne royal commission era, and promises to do right by consumers are no longer enough...

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Near and far: reinsurer examines coming changes

13 September 2021

Swiss Re has taken a look to the end of the year, and two decades further ahead, as current trends herald changes that will transform the industry into the future...

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The future workplace: no cookie-cutter solutions

6 September 2021

Could the COVID pandemic be an unlikely catalyst to end what historian Geoffrey Blainey once dubbed Australia’s “tyranny of distance"?...

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Dissecting ASIC's enforcement approach after conspicuous omission

30 August 2021

Has the corporate regulator gone soft? The Australian Securities and Investments Commission may have inadvertently given that impression with the release last week of its annual report outlining the regulator’s priorities for the next four years...

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October blitz: Hayne reforms steam ahead

23 August 2021

Another set of Hayne royal commission reforms is set to come into effect in October, building on other changes implemented since the start of the year such as the application of unfair contract terms laws to insurance contracts in April...

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IAG and Suncorp diverge in latest earnings results

16 August 2021

Headline financial results last week presented diverging stories for Suncorp and IAG, with the former basking in a better-than-expected outcome and IAG hit by organisational and risk management failures...

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Lucky Star: BI court judgment offers bright spot for insurers

9 August 2021

After an adverse legal decision on business interruption cover and the pandemic in the first test case, insurers may gain some confidence from a Federal Court judgment handed down on a different matter in their favour...

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AFCA's candid self-reflection as review concludes

2 August 2021

With just weeks now to wait for the report from an independent review of its operations by Treasury, the tone of Australian Financial Complaints Authority ombudsmen at a two-day member forum last week was conciliatory and amenable...

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Industry challenges highlighted as IAG resets

26 July 2021

IAG jumped out the gates early to deliver preliminary full-year financial results last week and in doing so has offered a window into some of the issues that the industry is dealing with as insurance affordability and availability concerns show few signs of easing...

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The post-pandemic world: 'scales tipped' in industry’s favour

19 July 2021

The coronavirus is proving to be a formidable foe to crush. More than a year into the public health crisis, the world is still struggling to hold the virus at bay as more infectious variants emerge, seeding new waves of transmissions...

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Eradicating groupthink

12 July 2021

Before the collapse of 158-year old banker Lehman Brothers in 2008 and the subprime loans fiasco, diversity and inclusion wasn’t top of the agenda in financial services...

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New code sets up insurance for a post-Hayne landscape

5 July 2021

In an exercise that took longer than usual to complete because of the COVID disruption, Australia’s insurers finally have a new code of practice in place – one that has been comprehensively updated and rewritten to provide for much-improved consumer protections in the post-Hayne royal commission landscape...

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The industry survives another barrage from MPs

28 June 2021

Friday’s hearing of the House of Representatives Standing Committee on Economics – a body which has previously demonstrated a sketchy understanding of how the insurance industry works – started with an announcement from committee Chair Tim Wilson that he and Insurance Council CEO Andrew Hall are "personal friends"...

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Spanner in the works? US lawsuit targets Aon-WTW merger

21 June 2021

The US Department of Justice doesn’t mince words in its lawsuit aimed at blocking Aon’s $30 billion purchase of rival international broker Willis Towers Watson...

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Starting gun fired on cyclone pool design discussions

7 June 2021

After a decade of governments spinning their wheels on the idea of a cyclone reinsurance pool, Treasury now has to speed ahead with its foot to the floor in turning the concept into reality within an expected one-year timeframe...

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