EY presents visions of doom to insurer laggards
23 September 2019
Like Dickens’ Ghost of Christmas Yet to Come showing the future to Scrooge, insurers are being warned by EY about what could happen to them if they don’t embrace change...
Analysis
Climate change: still in denial as neighbourhoods burn
16 September 2019
Australia’s biggest insurers have flagged the importance of urgent action on climate change as out-of-season bushfires rip through Queensland and NSW...
Firming, not hardening: reinsurers grappling with rates and uncertainty
09 September 2019
Reinsurance rates are rising after the high level of catastrophe losses in the past two years, but the trend may not bring the same comfort as in times past as the industry faces plenty of changes and challenges...
Cover conundrum: listening to reason when risk changes
02 September 2019
When insurers decline to offer cover for a certain risk in a certain location the reaction from affected residents, and the politicians and media claiming to represent them, is never positive...
A slow, careful march towards the data revolution
26 August 2019
Right now the amount of digital data in the world – and the ability to process and analyse it – is growing exponentially. That data is coming from multiple and expanding sources as homes, workplaces, cars, fridges, TVs, microwaves, wristwatches and any number of other devices become digitally enabled...
A win/win on depreciation
19 August 2019
Should depreciation be deducted from a business interruption claim as a “saving”? This Analysis of the issue is from Mark Darwin, a Partner at Herbert Smith Freehills and Peter Rink, Willis Towers Watson Head of Asia Pacific, Forensic Accounting and Complex Claims...
Levels rising: water claims prove a costly challenge
12 August 2019
Chubb’s report on internal water damage offers a case study of a client who owns a beautiful historic home as part of a property portfolio...
Northern Australia: ACCC plays a tune it can dance to
05 August 2019
Just as some federal ministers decline to engage with anyone using the term “climate change”, it is becoming apparent that with others in government the turn-off word is “mitigation”...
Pay as you fly: drones show the way
29 July 2019
In January 2018, the first usage-based insurance cover for drones in Europe was launched, with capacity provided by Allianz. Since its debut, Flock Cover has analysed and priced risk for more than 500,000 drone flights in what could be a sign of how the future face of insurance may take shape...
Building ignorance: politicians fail to grasp insurance (again)
22 July 2019
Politicians love pointing the finger at insurers when the proverbial hits the fan – and the current construction industry crisis is no exception...
All set for the fifth festival of diversity and inclusion
15 July 2019
For the past five years Lloyd’s has been at the forefront of promoting diversity and inclusion in the insurance industry, globally and in Australia...
Lessons to be learned: CBL failure puts heat on NZ regulator
08 July 2019
Fallout from the CBL Insurance failure will be felt across the New Zealand industry, with an independent review revealing a cautious regulatory approach failed to quickly get to the bottom of the company’s problems...
Taking stock: a mid-year regulatory round-up
01 July 2019
Memories of last year’s royal commission hearings may already be fading, but there’s no chance Commissioner Kenneth Hayne’s recommendations have been forgotten...
PI pullout chips away at building industry’s foundations
24 June 2019
The thousands of building surveyors, certifiers or construction industry operators who are required by regulation to have professional indemnity (PI) insurance are facing a dilemma that may well force them out of business...
Industry banana skins: digital slip-ups loom large
17 June 2019
Last week diversified insurance provider Insurance House was forced to shut down its online systems for a lengthy period while it dealt with a highly sophisticated malware attack. While no client data was compromised, the company says the episode is a reminder how challenging the cyber threat can be...
The things that make a good insurance CEO
11 June 2019
What makes a successful insurance company chief executive? According to the media pundits and market analysts, extensive insurance experience is at the top of the list…
ACCC’s northern inquiry: treading water and diving down rabbit holes
03 June 2019
The Australian Competition and Consumer Commission’s sprawling inquiry into soaring premiums in the country’s north is yet to really get to grips with the problem, even as it moves towards the business end of its three-year probe…
Why 5G spells danger for insurers
27 May 2019
Swiss Re’s annual analysis of emerging risks with the potential to have major impacts on insurers includes some of the usual suspects – climate change and the state of the global economy among them…
Wobbly lines: the market’s key trouble spots
20 May 2019
Capacity constraints continue to bedevil a number of business classes as insurers try to improve their bottom lines and back out of difficult markets…
Avoiding economic disaster: the true value of insurance
13 May 2019
We see plenty of good news stories showing how insurance companies help get individual homeowners or businesses back on their feet following a natural catastrophe…