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Analysis

When it comes to disaster pools, how good is Queensland?

10 May 2021

After years of insurers fighting against a reinsurance pool for cyclone-prone northern Australia and various inquiries showing little enthusiasm Prime Minister Scott Morrison has embraced the idea in an outcome reflecting the impacts of recent catastrophes and the power of politics...

Cyber takes top spot as cause of sleepless nights

26 April 2021

As some insurers take the “nuclear” option and stop writing Directors’ & Officers’ business entirely, a new survey finds cyber attacks have jumped to be the top concern for executives both locally and offshore for the first time...

Insurtech trends: using data to create dynamic insurance

19 April 2021

Like the prolonged soft insurance market cycle, the macro-economic cycle was an extended one and it took the largest recession since the Great Depression, triggered by a global pandemic, to bring the economy down...

Fighting on many fronts: BI test case battles widen

12 April 2021

An increasing number of business interruption legal issues are before the courts as insurers and policyholders continue to wrangle over exclusion wordings and whether cover has been provided for the COVID-19 pandemic...

Suez Canal crisis: mega ships equal mega claims

29 March 2021

The logjam in the Suez Canal is threatening to escalate into a complex and large-scale claims event for the insurance industry globally, as fears over the extreme risk posed by a new generation of mega ships are realised...

Reinsurance pool: is Government preparing to dive in?

15 March 2021

Rumours are swirling that there might be a significant announcement on insurance in northern Australia in the upcoming Federal Budget, and some are predicting it’ll involve a reinsurance pool...

‘This is not over’: leaders urge industry to prioritise gender equity

08 March 2021

Naming its incoming Australia and Pacific CEO Sue Houghton recently, QBE described the insurance trailblazer as “known for her sound judgment, resilience and adaptability, as well as for cultivating talent, fostering diverse and inclusive teams and driving performance”...

Year of change: injection of regulatory reform begins

22 February 2021

Prime Minister Scott Morrison described the national rollout of the COVID-19 vaccination program as “the beginning of a big game changer”. Also game-changing for the insurance industry could be the injection of Hayne-inspired regulatory reform slated for this year...

Is there a better (and fairer) way to prepare for fire?

08 February 2021

As bushfires once again cause destruction and threaten Australian lives, with more than 85 homes lost to an out-of-control blaze north of Perth last week, one expert is proposing that a Medicare-like system subsidise the cost of fire prevention measures via the public purse...

ACCC flags duties, subsidies in search for northern answers

01 February 2021

The Australian Competition and Consumer Commission has made two key proposals to directly tackle immediate insurance affordability worries in northern Australia, and they come down to actions that governments are likely to be reluctant to take...

Small business battles spur calls for government action

14 December 2020

The Australian Small Business and Family Enterprise Ombudsman has warned insurance market failure is causing a national crisis that needs to be addressed, and has taken calls for government action to a new level...

Tougher times put the ball in insureds’ court

07 December 2020

With premiums rising and terms and conditions tightening, pressure is increasing on businesses to reduce their potential risks and put themselves at the head of the queue in securing cover...