Disruption brings ‘pain point’ relief: Suncorp
30 October 2017
Technological disrupters are adept at targeting insurance “pain points” and are challenging major providers to improve their performance, Suncorp Insurance CEO Gary Dransfield says…
Local
La Nina outlook up, but summer downpours remain unlikely
30 October 2017
The likelihood of a La Nina weather pattern forming late this year has doubled, but the chances of associated high rainfall are small, according to the Bureau of Meteorology…
ICNZ praises climate change adaptation call
30 October 2017
The Insurance Council of New Zealand has welcomed calls from the country’s peak climate change body to overhaul stormwater and wastewater systems to cope with extreme weather…
SME confidence dips below national average
30 October 2017
Finance and insurance sector SMEs have recorded their lowest confidence levels in five years, according to the quarterly Sensis Business Index…
Building defects pose major risk, brokers warned
30 October 2017
Brokers must be on high alert regarding disclosure of building defects and how insurers view risk, given 72% of surveyed homeowners have reported one or more defects, Strata Community Insurance MD Paul Keating warns…
Aon ousted by IBANZ over fee rise
23 October 2017
Aon New Zealand has had its corporate membership of the insurance brokers’ peak body cancelled after failing to pay a $NZ15,500 fee increase…
Hardening commercial rates are underpinning margins: Finity
23 October 2017
A further hardening in commercial lines this financial year will contribute to expanding insurer margins, according to an annual industry report by Finity Consulting…
Industry leaders unite to form insurtech association
23 October 2017
An industry association dedicated to advancing insurtech start-ups and innovation will be launched in Sydney this week, with partners including QBE, Suncorp, IAG and AUB Group…
Speed still the top cause of severe truck accidents
23 October 2017
Inappropriate speed for prevailing conditions remains the major cause of significant truck crashes, according to a biennial study…
Actuaries push for action on mental health
23 October 2017
The Actuaries Institute is urging the insurance industry to invest more time and effort in addressing mental health coverage concerns…
Cladding scare ‘costs strata schemes’
23 October 2017
Some strata schemes are struggling to find cover due to the issue of flammable building cladding, an industry body says…
Climate change study shows NZ glacial melt, sea level rise
23 October 2017
New Zealand’s glaciers are rapidly melting, its soil is drying and sea levels are rising due to climate change, a new government report confirms…
Weighty documents burden policyholders
23 October 2017
Comparethemarket.com.au has supported moves to simplify product disclosure statements after a survey by the company found many consumers were skimming through the documents…
FOS ranks insurers on dispute data
16 October 2017
The Financial Ombudsman Service has released data comparing insurers’ likelihood of consumer disputes…
Flood study shows $216 million mitigation payoff
16 October 2017
A Launceston levee project prevented $216 million of flood losses last year, reinforcing the insurance industry’s push for greater spending on mitigation projects…
Day’s departure marks another short ICA presidency
16 October 2017
The two-year presidency of the Insurance Council of Australia has become a revolving door with the departure of Anthony Day from Suncorp…
Social engineering on the rise, cyber experts warn
16 October 2017
Cyber criminals increasingly use “social engineering” – manipulating people into giving up confidential information – to target businesses, according to the Australian Cyber Security Centre…
NZ lawyers plan class action over shoddy buildings
16 October 2017
New Zealand councils that have approved or inspected leaky and failed buildings in the past 10 years face a possible class action…
US hurricanes ‘show flood pool deficiencies’
16 October 2017
The recent US hurricanes have demonstrated the failings of taxpayer-funded flood insurance pools in providing catastrophe cover, Insurance Council of Australia CEO Rob Whelan says…
Kaikoura home settlements pass halfway mark
16 October 2017
New Zealand’s Earthquake Commission and private insurers have completed 54% of residential building settlements from the Kaikoura earthquake, within eight months of the lodgement deadline…