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...
Analysis
'We see no harm': reviewer stands firm on commissions
21 November 2022
Quality of Advice reviewer Michelle Levy says that in a “perfect world”, there’d be no commissions – in the sale of general insurance, or just about anything else...
Building on floodplains: why is it still happening?
14 November 2022
The insurance industry’s message on improving disaster resilience is finally getting through – millions of dollars are being put aside for mitigation measures and ambitious buy-back and build-back programs have been launched...
Climate Change Roadmap sets new direction – but is it too late?
07 November 2022
The launch of the Insurance Council of Australia Climate Change Roadmap marks a step-change in the industry’s approach to one of the defining issues of our time...
Budget gets into the weeds of thorny insurance issues
31 October 2022
Along with big-ticket funding for mitigation projects, the first Budget under the Albanese Government is also looking to drill down into the details of some tough insurance issues...
'Big hole in the market': farm properties and flood
24 October 2022
We’re very used to flooded homeowners complaining to the mainstream media after discovering their insurance doesn’t respond to an event...
BI repercussions continue after High Court decision
17 October 2022
The High Court of Australia decision against hearing appeals on covid-triggered business interruption cover largely concludes the industry test case process in favour of insurers but the resolution of claim disputes and other legal action may take some time yet...
Central role: insurance and the climate transition
10 October 2022
The insurance industry has raised its voice on resilience, and is achieving political cut through following natural catastrophes, but the crucial role it can play worldwide in delivering new technologies that lower emissions tends to fly under the radar...
Diverse voices: highlights from Dive In 2022
03 October 2022
Doors opened to the biggest ever annual Dive In festival last week as industry leaders and inspirational guest speakers called on the insurance industry to herald in a “braver culture” at 150 events in 40 countries....
La Nina, three years in a row: climate scientist outlines what we can expect
26 September 2022
The Bureau of Meteorology has declared another La Nina is underway. This means Australia’s east coast will likely endure yet another wet, and relatively cool, spring and summer...
On the Radar: analysing insurance, class-by-class
19 September 2022
Actuarial consultant Taylor Fry has released the annual Radar report, its “class-by-class" insights for insurers...
Catastrophe facts: reports uncover the cost of disasters
12 September 2022
The Insurance Council of Australia released two significant reports on natural catastrophes last week...
'Substantial' changes tackle personal, general advice confusion
05 September 2022
After years of debate over the line between general and personal advice and rules related to each, the closely watched Quality of Advice review has put a plan on the table that cuts a swathe through previous discussions...
Expectation vs reality: claims handling after catastrophes
29 August 2022
People buy insurance so that they’re looked after when disaster strikes – but how prepared are they for the realities of the claims process after a major natural catastrophe?...
Top insurance affordability influences go unchecked
22 August 2022
Actuaries have painstakingly crunched the numbers on insurance affordability for Australia's 10 million households and the conclusion is clear: the current regime of taxes, building codes and land planning must change...
Plenty of reinsurance questions in a more volatile world
15 August 2022
Reinsurers are seeking more stability in a volatile environment that has changed significantly in recent times, with uncertain implications for pricing and capacity, a report from AM Best indicates...
BI test case grinds on as High Court to hear appeal application
08 August 2022
The legal test case process triggered by declined pandemic-related business interruption claims will head into a third year as the wheels of justice turn slowly and clarity is still sought over the issues...
Seven megatrends to shape two decades
01 August 2022
The Commonwealth Scientific and Industrial Research Organisation has released a major new report outlining seven megatrends that will shape our society over the next 20 years...
Home insurance and 'side hustles': how worried should we be?
25 July 2022
There’s momentum building on an insurance issue that could theoretically invalidate thousands of home and contents policies, and has consumer groups throwing around accusations of “junk” cover...
Suncorp streamlining crescendos with bank sale
18 July 2022
After years of conjecture and the sale of various other financial services business in recent times, Suncorp has made the decision to divest its bank and focus entirely on insurance...