Single complaints authority to absorb FOS
15 May 2017
The Financial Ombudsman Service will be rolled into the new Australian Financial Complaints Authority from July next year…
Local
Broker business holds up among NZ SMEs, Vero finds
15 May 2017
The first New Zealand edition of Vero’s SME Insurance Index shows most of the country’s small businesses are buying cover through brokers – but it warns against complacency…
Debbie losses approach $900 million
15 May 2017
Insured losses from Cyclone Debbie and associated flooding have risen to $897 million from 56,135 claims, the Insurance Council of Australia says…
El Nino still possible: forecasters
15 May 2017
The chances of an El Nino weather system this year cannot be ruled out despite the likelihood easing in some models, the Bureau of Meteorology says…
Industry players ‘lead on privacy governance’
15 May 2017
The financial services sector, which includes general insurance, has the best privacy governance because it is so highly regulated and holds regular staff training, according to this year’s Deloitte Australian Privacy Index…
Broker acts to cut building insurance costs
15 May 2017
A new facility has been set up to reduce insurance costs for buildings featuring certain types of expanded polystyrene panels…
Brisbane flood study may help reduce premiums
08 May 2017
Findings from a four-year Brisbane River catchment flood study are expected to increase mitigation efforts and improve premium pricing…
Insurers told to increase scrutiny on claims investigations
08 May 2017
Insurers should more closely oversee external claims investigators following complaints about their behaviour towards customers, the industry’s independent monitor has found…
Insurers urged to help family violence survivors
08 May 2017
A campaign group has called on the insurance industry to do more to help victims of family violence…
Industry crosses fingers for mitigation funding in budget
08 May 2017
Insurers hope tomorrow’s Federal Budget will include disaster mitigation funding, with recent damage from Cyclone Debbie highlighting the issue…
Sea level rise may force NZ insurers to limit cover
08 May 2017
Rising sea levels could leave some New Zealand coastal properties without access to insurance as the risk of damage increases, a research report warns…
NZ ‘tempest’ costs insurers $38 million
08 May 2017
The March storm dubbed the Tasman Tempest has cost insurers $NZ41.7 million so far, according to the Insurance Council of New Zealand…
More arrests made in CTP fraud crackdown
08 May 2017
Two Sydney men have been charged with defrauding the NSW compulsory third party insurance scheme of more than $1.7 million…
Insurance sector tops confidence survey
08 May 2017
The finance and insurance sector has topped a survey of SME confidence levels, despite its score easing from previous highs…
Cyclone strengthens argument for mutual insurer: MP
01 May 2017
Damage caused by Cyclone Debbie has reinforced the case for a mutual insurer to reduce premiums to affordable levels, north Queensland-based MP Warren Entsch says…
Aon reveals top local government risks
01 May 2017
A new Aon report on the local government sector has revealed tensions between the risk services company and JLT, the broker which dominates insurance in the sector…
FOS reports spike in general insurance disputes
01 May 2017
The number of general insurance disputes received by the Financial Ombudsman Service grew 21.5% to 3291 in the first quarter…
Cyber spy, ransomware attacks increase
01 May 2017
Cyber espionage and ransomware attacks are on the rise, according to Verizon Enterprise Solutions’ latest Data Breach Investigations Report…
Digital risk rises for construction businesses
01 May 2017
Risks from digitalisation and new technology are among five “megatrends” affecting the construction sector, according to Willis Towers Watson…
Queensland, Victoria drive rise in vehicle theft
01 May 2017
Vehicle thefts across Australia jumped 10% last year, led by increases in Victoria and Queensland, according to new industry data…