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...
07 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...
30 November 2020
The time has arrived for brokers to move from “price to advice” in a greatly changed insurance market...
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...
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…
09 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...
02 November 2020
2020 has been an “annus horribilis” for many nations, and as a new report shows, Australian insurers have not been immune from its impacts...
26 October 2020
“The insurance market is now to the stage where you will have no choice but to be uninsured. There is simply no market to get a quote in some circumstances.”...
19 October 2020
With a review of broker commissions looming, the National Insurance Brokers Association wanted hard evidence of the service that intermediaries provide...
12 October 2020
A politically divided Senate inquiry into the last bushfire season has delivered an interim report which notes the importance of disaster mitigation while delivering a few backhanders to the insurance industry along the way...
05 October 2020
Infectious diseases and the global pandemic have soared up the ranks in Axa’s latest survey of most pressing global risks, with COVID-19 triggering a dramatic jump in health concerns to first place from eighth, knocking climate change from the top spot...
28 September 2020
The COVID-19 pandemic and its economic repercussions have been tough on almost everyone...
21 September 2020
Amid the assessments following the complex UK High Court test case judgment last week on business interruption there have been a few clear messages...
14 September 2020
Hopes for a festive mood at the annual Monte Carlo Rendez-Vous de Septembre have been doubly dashed this year, with the event cancelled due to the coronavirus pandemic and reinsurers facing tough times despite long-awaited rising rates...
07 September 2020
QBE’s announcement last week that Group CEO Pat Regan will depart over “poor judgment” involving a female employee marks a rapid and remarkable unravelling of a previously successful partnership...
31 August 2020
Blockchain has been spotlighted as one of the most important technological trends in Australia, but the insurance industry has somehow been slower to embrace blockchain than other industries, such as finance...
24 August 2020
An internet meme that has done the rounds depicts a survey asking “who led the digital transformation of your company?” Of possible choices between the CEO, CTO and COVID-19, it is the virus that’s heavily circled by a thick red line...
17 August 2020
We’ve all seen the headlines. Across the world from the US to the UK, mainstream media news titles have been all too eager to attack the insurance industry’s perceived failings as coronavirus and associated shutdowns took a heavy toll...
10 August 2020
With the results for IAG’s financial year behind them, the group’s directors now have another major matter to settle – who will lead the group into what MD Peter Harmer has described as “an increasingly complex and dynamic environment”...
03 August 2020
Insurers have moved beyond putting a toe in the water when it comes to insurtech partnerships, but are yet to take the full plunge when it comes to widescale adoption of innovation, the third annual Australian Insurtech Ecosystem Report suggests...