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Industry profits fall as COVID, natural disasters dent earnings

30 November 2020

Bushfires and other costly natural disasters from last summer plus the fallout from COVID-19 on financial markets have significantly affected general insurance earnings, the Australian Prudential Regulation Authority says...

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Actuaries call for government action on affordability issues

30 November 2020

The Actuaries Institute says “temporary and targeted government intervention” is needed to help manage the issue of insurance affordability, with households in up to 12% of Australian postcode areas facing pressure in meeting annual premiums...

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Key managers leave ICA after restructure

30 November 2020

Several key executives will leave the Insurance Council of Australia, following a strategic review...

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BI claims certainty ‘some time’ away: AM Best

30 November 2020

Clarity over business interruption claim impacts as a result of the COVID-19 pandemic is likely to be “some time off” as legal battles continue over wordings and other considerations, AM Best says...

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NSW on bushfire alert as above-normal fire potential looms

30 November 2020

Several bushfires have broken out in parts of NSW, prompting the Rural Fire Service to issue advice alerts in a number of areas, including two that are burning west of Sydney today...

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Insurance News launches podcast service

30 November 2020

Detailed discussion of the NSW Court of Appeal ruling on the COVID-19 business interruption test case is featured in the first edition of INsight, the new Insurance News podcast...

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Natural disasters? No worries, say Kiwi SMEs

30 November 2020

Small businesses in New Zealand are more concerned about cyber attacks, managing cashflow and retaining staff than natural disasters, even after a decade of destructive earthquakes and floods...

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Sustainability Roadmap seeks to cut emissions

30 November 2020

A “roadmap” developed by the Australian Sustainable Finance Initiative has called on members to facilitate a transition to net-zero emissions by 2050 and to take steps to boost resilience...

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ICA holds inaugural building code roundtable in Canberra

30 November 2020

The Insurance Council of Australia hosted the first of a series of Building Stronger Homes Roundtables last week, exploring the role of construction standards in national natural disaster resilience...

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Victoria, Queensland join cladding class actions

30 November 2020

Litigation funder Omni Bridgeway says the Victorian and Queensland governments have given their consent to join two separate cladding class actions it is pursuing in the Federal Court...

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