28 August 2023
In an attempt to align the corporate regulator’s recent report on claims handling with insurer profits, Melbourne’s Herald Sun recently ran with the headline “Our insurers are floody useless”...
21 August 2023
Insurers are increasingly under fire for relying too heavily on wear and tear exclusions to deny claims – and one example is a growing concern for brokers and their clients...
14 August 2023
Actuaries Institute and consumer group research reports have highlighted rising home insurance affordability problems in parts of Australia and set out proposals for action, as consensus rises on some issues while immediate solutions remain a challenge...
07 August 2023
Emotions may run high as a Federal Government parliamentary inquiry into insurer responses to record-breaking floods hears accounts of experiences, but Assistant Treasurer Stephen Jones has stressed that it will be more than an exercise in venting...
31 July 2023
Preventing high-risk building on floodplains is becoming increasingly urgent as climate threats combined with a rising population and greater housing needs potentially put more people at risk from extreme weather events...
24 July 2023
The Insurance Council of Australia (ICA) moved quickly to welcome the announcement of a parliamentary inquiry into insurers’ responses to last year’s devastating floods...
17 July 2023
The long and often heated debate around broker commissions and transparency is a saga that many want to see concluded. But a tweak to the revised brokers’ code of practice guarantees the debate will continue...
10 July 2023
As the mid-year reinsurance renewals draw to a close, a clearer picture on the state of play has emerged: tough pricing conditions are not going away just yet but reinsurers’ appetite for what they perceive as good risks have improved since the start of the year...
03 July 2023
Australia’s financial services laws have been likened to a poorly built house needing renovation, with the key Corporations Act chapter seen as an old cupboard crammed full and poorly organised...
26 June 2023
An Australian Securities and Investments Commission directive for insurers to review pricing promises has resulted in a report outlining critical failings that led to undelivered discounts and misrepresentations...
19 June 2023
Australia has finally shaken off its mitigation inertia as the Albanese Government prepares to disburse $200 million to more than 180 projects that qualified for the first round of funding under its five-year $1 billion Disaster Ready Fund...
05 June 2023
Three years of La Nina drenchings have delivered a mostly normal bushfire outlook across Australia this winter but long-range weather forecasts are stirring some early concerns for higher-risk periods further ahead, with Black Summer memories all too recent...
29 May 2023
Cyber risk refers to any risk of financial loss, disruption to operations and data or reputation relating to breaches in an organisation’s information technology systems...
22 May 2023
AUB Group may not have intended to retain full ownership of the Tysers retail business, but much has changed in the past year, and the decision to ditch a joint venture plan has gained a cautiously positive reception...
15 May 2023
Treasurer Jim Chalmers handed down his second federal budget last week, and while there are some key wins for the insurance industry, there’s much more to do...
08 May 2023
Observers of global funding trends in the insurtech sector are at risk of whiplash after recent highs and lows, as reported every three months in Gallagher Re’s Global InsurTech Report.
01 May 2023
Property renewals for insurance buyers exposed to catastrophe risk have remained a market pain point, but more generally the moderating trend of the past two years is continuing with capacity improving in some areas, the latest Marsh report shows...
24 April 2023
It comes as no surprise that there has been a surge of interest in Discretionary Mutual Funds (DMFs) as business owners in “hardening” insurance markets seek alternative sources of risk cover...
17 April 2023
The tone is set for Australian insurers as they get into the full swing of critical reinsurance renewal talks – and any hopes for an easing in price pressures have largely been dashed by the recently concluded April season...
03 April 2023
Climate change means more natural disasters, which presents increased risk for business and the community as insurers feel the pressure. Something has to change...