Surge in class actions poses threat to D&O
04 September 2017
The Risk and Insurance Management Society will work with members to examine a rise in class action activity that is causing “unstainable” losses in the directors and officers’ market…
Local
SME owners cynical about insurance: Vero NZ
04 September 2017
Younger SME owners in New Zealand do business differently to the older generation, and most do not believe they get value out of their insurance, according to Vero…
NZ insurance ‘the safest place to work’
04 September 2017
Workers in New Zealand financial and insurance services suffered the lowest rates of injury last year, according to figures released by Stats NZ…
Broker breaches rise as panel targets reporting inconsistency
28 August 2017
The number of self-reported breaches of the Insurance Brokers Code of Practice jumped 42% last year, while significant cases tripled, the compliance committee’s annual review says…
Sydney Basin ‘primed’ for early bushfire season
28 August 2017
Dry winter conditions in NSW, marked by record warm temperatures in July and low rainfall, may bring an early start to the bushfire season, according to academics…
Rival insurers team up to challenge CTP scams
28 August 2017
Suncorp and RACQ Insurance have joined forces to urge the Queensland Government to tackle “rampant rorting” of the state’s compulsory third party insurance scheme…
NZ Debbie and Cook payouts near $100 million
28 August 2017
The New Zealand insurance bill for damage wrought by cyclones Debbie and Cook in April has reached $NZ108.7 million, according to the Insurance Council of New Zealand…
Property owners ‘left in dark’ over cladding
28 August 2017
Apartment owners affected by flammable aluminium building cladding have been ignored, according to the organisers of a safety forum…
Insurers visit Whitsundays to discuss Debbie claims
28 August 2017
The Insurance Council of Australia and key insurers will be in the Whitsundays region on September 8-10 to help policyholders with claims issues relating to Cyclone Debbie…
Industry records 7% profit gain
21 August 2017
(Re)insurers’ combined after-tax net profit grew 7.2% to $3.1 billion in the year to June 30, partly driven by higher underwriting income and gross written premium, according to Australian Prudential Regulation Authority industry figures…
Brokers urged to pitch in on innovation
21 August 2017
A new scheme to help bring brokers’ business ideas to life is about countering the market influence of disruptors rather than a money-making exercise, according to the man who conceived it…
Rising crime drives up Victorian premiums
21 August 2017
A surge in vehicle crime and home break-in figures in Victoria has pushed up insurance premiums more quickly than in other states, according to analysis by the Insurance Council of Australia…
Co-operation central to building cyber resilience
21 August 2017
Australia’s financial services regulators and their Asia-Pacific counterparts must work more closely together to deal effectively with cyber attacks, according to Deloitte…
EQC to settle most Kaikoura quake claims this year
21 August 2017
The Earthquake Commission says it is on track to settle most of the 38,000 Kaikoura earthquake residential claims by the end of the year…
NZ quake claimants urged to seek time limit advice
21 August 2017
Canterbury residents should contact their insurers if they are unsure how laws putting a time limit on legal action may affect outstanding 2010/11 earthquake claims, the Insurance Council of New Zealand says…
Senate inquiry backs disaster mitigation spending
14 August 2017
The Senate inquiry into the general insurance industry has come out strongly in favour of increased disaster mitigation spending…
Local insurtech lags amid digital surge
14 August 2017
Insurtech in Australia and New Zealand is being left behind in the rush towards fintech innovation, according to a report by KPMG and business lobby the Committee for Sydney…
Census data shows growth in at-risk housing
14 August 2017
Australians are continuing to build homes near the coast despite the increasing likelihood of natural disasters, according to new research…
Contents replacement costs ease despite gadget demand
14 August 2017
The cost of replacing household goods has eased slightly despite rising demand for electronic items, according to the Sum Insured Australian Residential Contents Index…
Technology, competition concern NZ insurers
14 August 2017
Change management, technology and competition top the list of risks New Zealand insurers face, according to a PricewaterhouseCoopers survey…