Brokers baffled over market withdrawals
01 August 2011
Brokers say it’s almost impossible to place business in Far North Queensland’s strata market and despite premium increases of up to 400% they are urging customers to grab any option for cover…
Analysis
Flood review: No one wants to take responsibility
25 July 2011
The traditional battlelines are again being acted out at the Natural Disaster Insurance Review following the closing of submissions…
A state-funded flood rebate scheme won’t fly, so what’s Plan B?
18 July 2011
In its submission to the Natural Disaster Insurance Review, the Insurance Council of Australia presents a strong, politically compelling case that mandatory flood cover is not the way forward…
The blame game begins
11 July 2011
Insurers are bracing for fallout from the Queensland floods on at least two fronts – resisting the compulsory flood cover option of the Federal Government’s Natural Disaster Insurance Review and…
Competition still keeping rates down
04 July 2011
Brokers expected it. Clients expected it…
Opposition grows to a compensation scheme
27 June 2011
Almost every day in the financial services industry something goes wrong and a consumer is left out of pocket…
A brave new technological world for insurers
20 June 2011
Young people don’t talk to each other any more; they text, facebook and twitter. The words themselves have become active verbs rather than the passive nouns they once were…
Is another industry reform struggle looming?
14 June 2011
The launch last week of a new report by the Brotherhood of St Laurence on insurance for low-income earners doesn’t reveal any dramatic new facts…
Local industry sees risks to reputation after summer of disasters
06 June 2011
The industry has copped plenty of criticism over flood cover and claims handling following the summer of disasters, and it has left insurers worried about a breakdown in the relationship between…
Compulsory flood cover is something to worry about
30 May 2011
The insurance industry is deeply concerned that the Government is leaning towards mandating compulsory flood cover – and it has every right to be concerned…
Time for a strategic rethink at ICA
23 May 2011
The spate of natural catastrophes in Australia this year provided the insurance industry with a real opportunity to show its value to the Australian public, with $4 billion committed by strong…
Industry players prepare for a tougher market
16 May 2011
Rates are rising and the industry is preparing for a hardening market – something that will be a new experience for many younger employees…
Aon survey finds global reliance on brokers growing
09 May 2011
More companies have started to rely on brokers or independent consultants as the primary source to assist them in determining what limits of insurance to buy, according to Aon’s 2011 Global…
FOFA: Creating problems to solve a problem
02 May 2011
The Federal Government’s Future of Financial Advice reform program brings to mind the saying about a camel being a horse designed by a committee…
State’s tender system under fire
18 April 2011
The term “sovereign risk” is usually used in relation to a government’s creditworthiness or its reliability in dealing with business fairly and equitably…
Policyholders race for cover
11 April 2011
Policyholders with small New Zealand insurer Western Pacific – now in liquidation after collapsing under the weight of Christchurch earthquake claims – and much larger insurer AMI can broadly be placed…
Lloyd’s thrives despite a spate of catastrophes
04 April 2011
In a year of catastrophes Lloyd’s has still managed to turn in a pre-tax profit of £2.19 billion ($3.4 billion) for 2010, although it was £1.6 billion ($2.4 billion) – or 43% – less than the previous year…
With nine months to go, reinsurers tremble
28 March 2011
2011 has already been a hell of a year for the global reinsurance industry. We are barely at the end of what has been an all-time, record-breaking first quarter for cat losses, which begs…
Coles makes its play in toughest market
21 March 2011
The personal lines motor market in Australia is no place for the faint-hearted…
Christchurch quake: who pays for better buildings?
14 March 2011
Better building standards and innovation in construction are saving lives in earthquakes, but they are also raising the question of how much insurers should contribute to replacement buildings…