Brought to you by:
Ebix
Ebix

Analysis

When it comes to disaster pools, how good is Queensland?

10 May 2021

After years of insurers fighting against a reinsurance pool for cyclone-prone northern Australia and various inquiries showing little enthusiasm Prime Minister Scott Morrison has embraced the idea in an outcome reflecting the impacts of recent catastrophes and the power of politics...

Read More...

Be careful: law change will discard consumers’ disclosure duty

3 May 2021

From October 5, duty of disclosure obligations will no longer apply to consumer insurance contracts, thanks to Hayne-inspired reform aimed at redressing the balance of power between insurers and their customers...

Read More...

Cyber takes top spot as cause of sleepless nights

26 April 2021

As some insurers take the “nuclear” option and stop writing Directors’ & Officers’ business entirely, a new survey finds cyber attacks have jumped to be the top concern for executives both locally and offshore for the first time...

Read More...

Insurtech trends: using data to create dynamic insurance

19 April 2021

Like the prolonged soft insurance market cycle, the macro-economic cycle was an extended one and it took the largest recession since the Great Depression, triggered by a global pandemic, to bring the economy down...

Read More...

Fighting on many fronts: BI test case battles widen

12 April 2021

An increasing number of business interruption legal issues are before the courts as insurers and policyholders continue to wrangle over exclusion wordings and whether cover has been provided for the COVID-19 pandemic...

Read More...

Suez Canal crisis: mega ships equal mega claims

29 March 2021

The logjam in the Suez Canal is threatening to escalate into a complex and large-scale claims event for the insurance industry globally, as fears over the extreme risk posed by a new generation of mega ships are realised...

Read More...

Decade of learning: four key themes from SME Index

22 March 2021

Vero’s annual SME Insurance Index, which delves into the minds of 1500 SME owners and their insurance-buying habits, has just published its 10th edition...

Read More...

Reinsurance pool: is Government preparing to dive in?

15 March 2021

Rumours are swirling that there might be a significant announcement on insurance in northern Australia in the upcoming Federal Budget, and some are predicting it’ll involve a reinsurance pool...

Read More...

‘This is not over’: leaders urge industry to prioritise gender equity

8 March 2021

Naming its incoming Australia and Pacific CEO Sue Houghton recently, QBE described the insurance trailblazer as “known for her sound judgment, resilience and adaptability, as well as for cultivating talent, fostering diverse and inclusive teams and driving performance”...

Read More...

Results in focus: earnings season spotlights premium gains, BI uncertainty

1 March 2021

Rising premiums are set to remain a positive for insurance companies for some time yet while business interruption claims uncertainty is still a cloud over the industry as legal battles continue and COVID-19 concerns persist, the latest earnings reporting season shows...

Read More...

Year of change: injection of regulatory reform begins

22 February 2021

Prime Minister Scott Morrison described the national rollout of the COVID-19 vaccination program as “the beginning of a big game changer”. Also game-changing for the insurance industry could be the injection of Hayne-inspired regulatory reform slated for this year...

Read More...

Which comes first: underwriting or reinsurance?

15 February 2021

I hope that after a year like 2020, the summer break offered time for you to pause and reflect...

Read More...

Is there a better (and fairer) way to prepare for fire?

8 February 2021

As bushfires once again cause destruction and threaten Australian lives, with more than 85 homes lost to an out-of-control blaze north of Perth last week, one expert is proposing that a Medicare-like system subsidise the cost of fire prevention measures via the public purse...

Read More...

ACCC flags duties, subsidies in search for northern answers

1 February 2021

The Australian Competition and Consumer Commission has made two key proposals to directly tackle immediate insurance affordability worries in northern Australia, and they come down to actions that governments are likely to be reluctant to take...

Read More...

Small business battles spur calls for government action

14 December 2020

The Australian Small Business and Family Enterprise Ombudsman has warned insurance market failure is causing a national crisis that needs to be addressed, and has taken calls for government action to a new level...

Read More...

Tougher times put the ball in insureds’ court

7 December 2020

With premiums rising and terms and conditions tightening, pressure is increasing on businesses to reduce their potential risks and put themselves at the head of the queue in securing cover...

Read More...

Broking and client service post-COVID: a guide

30 November 2020

The time has arrived for brokers to move from “price to advice” in a greatly changed insurance market...

Read More...

End of the beginning: BI case has a long way to go

23 November 2020

Last week’s NSW Court of Appeal judgment in a test case over business interruption cover for COVID-19 comes as a first-round loss for insurers in a fight that has a long way to run, and which is opening up on multiple fronts...

Read More...

Still not quite out of the woods: study flags dangers ahead

16 November 2020

Swiss Re has struck a cautiously upbeat tone in its latest Sigma study, revising its previously downbeat outlook for the insurance industry on expectations that the worst of the economic devastation of the pandemic is over…

Read More...

Insurers ‘entitled’ to discount new business, but for how long?

9 November 2020

A consumer recently complained to the Australian Financial Complaints Authority that his premium had soared by 47%, and he could get a cheaper quote as a new customer from the same insurer...

Read More...