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Financial Rights says cyclone pool doesn't solve problems

10 May 2021

The Financial Rights Legal Centre has warned the reinsurance pool announced last week for northern Australia may not deliver significant premium reductions and offers no assistance for those exposed to natural catastrophes in other parts of the country...

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'Major' D&O, PI claims pushing up financial lines rates: Marsh

10 May 2021

Financial and professional rates in the Australia-led Pacific region surged 48% in the first quarter, the highest out of three commercial product classes tracked by Marsh’s price tracker...

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UK actuary flags idea to 'insure the uninsurable'

10 May 2021

An actuary with the Financial Reporting Council, a UK regulator, has suggested there may be a way for the insurance industry globally to underwrite pandemics, wars and other uninsurable risks as well as black swan events...

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ICA appoints IAG, Munich Re, Chubb executives to board

10 May 2021

The Insurance Council of Australia has added IAG CEO Nick Hawkins, Munich Re Australasia MD Scott Hawkins and Chubb Country President Peter Kelaher to its board...

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Perils puts NSW, Queensland flood losses at $1.06 billion

10 May 2021

Zurich-based catastrophe data company Perils has put its initial insured loss estimate for the NSW and Queensland flooding catastrophe at $1.06 billion...

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Bushfire costs to rise as winter rainfall skips Australia

10 May 2021

Australia faces drier conditions and an increased risk of extreme bushfires peppered with bouts of intense rainfall and floods during severe La Nina phases, representatives from Chubb and Suncorp told attendees at this year’s Actuaries Summit...

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Liberty Mutual 'evaluating alternatives' for Queensland coal mine

10 May 2021

US insurer Liberty Mutual has confirmed it will not be lodging an environmental impact statement for a Queensland coal mine project that it owns through subsidiary Liberty Metals and Mining Holdings...

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