Cyber: the problem, and ways to fix it
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...
Analysis
Surprise AUB Tysers retail move gains early positive response
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...
Federal budget: step in the right direction, but more needed
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...
‘The world has found its groove again’: new era begins for insurtech
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.
Cat-affected property risks defy moderating market
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...
Mutual benefits: in the rush to DMFs, core principles must not be forgotten
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...
Price tussle: tough mid-year renewals loom for Australian market
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...
Something has to change: sharing increased climate risk
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...
One year apart, Australia and New Zealand floods highlight the urgency of more holistic risk management
27 March 2023
Just shy of one year after the eastern Australia floods, severe floods brought Auckland, New Zealand's largest city, to a standstill, marking another record-breaking flood event in the region...
'Year of transformation': AFCA explains problems and solutions
20 March 2023
The Australian Financial Complaints Authority held virtual forums last week to spell out to members how it’s planning to tackle looming challenges, including significant delays in resolving complaints...
Flood of complaints: AFCA rulings from a record catastrophe
13 March 2023
The flood catastrophe that struck Queensland and NSW in February and March last year is the most expensive insured loss event on record, at $5.76 billion and counting...
Rising cost of insurance, and what to do about it
06 March 2023
Munich Re’s local MD Scott Hawkins has published an article detailing his views on extreme weather events and the rising cost of insurance...
Brokers buoyant as premium rates, acquisitions boost outlooks
27 February 2023
Rising premiums and acquisitions have delivered strong first-half results for each of the three listed insurance broking companies, with the firms upgrading outlooks and delivering positive messages to the market...
Destructive power: stakes high for changing cyclone risks
20 February 2023
Australia has so far this season avoided the extensive wind-driven destruction that tropical cyclones can bring but the impact of Gabrielle in New Zealand has again shown the devastating impacts of such storms even as they move south and change...
NSW election: ICA plots course for a stronger state
13 February 2023
Much as it did prior to the federal election last May, the Insurance Council of Australia has published a series of demands as NSW residents prepare to head to the polls on March 25...
Inflation and disasters front and centre as premiums rise
06 February 2023
Almost like Exhibit A, IAG’s margin downgrade and discussion about rising premiums, inflation and natural peril costs came just a day after the first meeting of a new Federal Government and industry group looking at resilience and insurance affordability...
Working from home: what do we really think?
30 January 2023
As the industry gets into the swing of a new working year, employers and their staff will be hoping they’ve seen the last of covid lockdowns...
'Perplexing and convoluted': report makes case for strata reform
12 December 2022
With more Australians living in apartment complexes and plenty of issues affecting buildings and insurance, the last thing owners need is convoluted practices that are so opaque that they leave the door open to questionable practices...
Five to forget: 2022 flood tops catastrophe list
05 December 2022
As the claims keep trickling in, this year’s flood catastrophe that struck NSW and Queensland in February and March has become the worst on record for Australia, as far as insured losses go...
Fishing for conclusions from swirling pool debate
28 November 2022
A federal parliamentary committee inquiry hearing ran all day on Friday, investigating the operation and implementation of the government’s new cyclone reinsurance pool...