La Nina continues to fizzle out
05 March 2018
The relatively uneventful La Nina system continues its decline, with conditions expected to return to neutral early in the autumn, the Bureau of Meteorology says…
Local
FOS receives 300-plus Debbie disputes
05 March 2018
The Financial Ombudsman Service has received 312 disputes relating to Cyclone Debbie, which swept across parts of Queensland and NSW in March last year, causing more than $1.6 billion in insured losses…
Vic hailstorm losses pass $400 million
05 March 2018
Insured losses from severe storms in regional Victoria and Melbourne late last year have risen to $406 million, according to latest figures from the Insurance Council of Australia…
QBE offers cover for private school fees
05 March 2018
QBE has introduced a policy that covers parents against the risk of defaulting on their children’s private school fees if they lose their job or suffer injury or disability…
NZ insurers grow premium
05 March 2018
New Zealand insurers recorded $NZ7.04 billion in gross earned premium in the year to September 30, up from $NZ6.5 billion in the previous year, according to inaugural industry statistics from the central bank…
Annual industry profits grow 15%
26 February 2018
General insurers and reinsurers made a combined net profit of $3.4 billion last year, up 15.9% on 2016, according to figures from the Australian Prudential Regulation Authority…
Commercial property hardening after major losses: Gallagher
26 February 2018
Australia’s commercial property insurance market is hardening after years of underpricing, according to the latest quarterly market report from Gallagher…
Gallagher exec joins NIBA board
26 February 2018
Gallagher Head of Workplace Risk Vivienne Toll has joined the National Insurance Brokers Association board…
Household insurers lag in claims satisfaction
26 February 2018
Vehicle insurers handle claims better than their household cover counterparts, according to a new Roy Morgan customer satisfaction survey…
January storm losses hit $25 million: ICNZ
26 February 2018
Insurance losses from New Zealand’s first major storm of the year have reached $NZ26.7 million, industry figures show…
Injured workers ‘likely to suffer mental illness’
26 February 2018
People injured at work are increasingly likely to suffer a secondary mental health condition, according to Allianz…
Kaikoura building settlements almost complete: EQC
26 February 2018
New Zealand’s Earthquake Commission says 88% of residential building settlements from the 2016 Kaikoura catastrophe were completed at the end of last month…
NZ prepares for rough weather as Cyclone Gita looms
19 February 2018
New Zealand is bracing for damage from Cyclone Gita, which is forecast to make landfall near Wellington tonight, bringing strong winds, heavy rain and high seas to coastal areas in the country’s central regions…
Shift in trade winds may spell end for La Nina
19 February 2018
A rapid weakening of Pacific trade winds may hasten the decline of this year’s La Nina weather system, the Bureau of Meteorology says…
Consumer group raises pressure over unfair contract terms
19 February 2018
The Consumer Action Law Centre is stepping up its campaign for unfair contract term provisions to be extended to insurance, ahead of expected consultations on possible changes this year…
Fraud declines as businesses wise up
19 February 2018
The number of reported fraud incidents in Australia plummeted 40% last year, declining for the first time in several years, according to a KPMG Forensic report…
NZ insurers pay out $6.5 million a day
19 February 2018
New Zealand insurers paid an average of $NZ7 million a day in claims last year, the Insurance Council of New Zealand says…
EQC funds NZ tsunami research
19 February 2018
New Zealand’s Earthquake Commission is co-sponsoring a research project on tsunami risks in the city of Porirua north of Wellington…
CROs to the fore as cyber risks grow
19 February 2018
Chief risk officers will take centre stage as cyber threats are increasingly considered “key operational risks” rather than “information technology risks”, according to Aon…
Choice points royal commission towards claim denials, premiums
12 February 2018
Consumer group Choice has asked the royal commission into financial services to examine claims denials and to compel insurers to disclose more information around premiums…