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Cyclone losses top $400 million

10 April 2017

Insured losses from Cyclone Debbie and flooding have climbed to an estimated $413 million from 46,817 claims, according to the Insurance Council of Australia…

NZ counts cost as Debbie drops in

10 April 2017

New Zealand insurers face an influx of claims after the remains of Cyclone Debbie crossed the Tasman, bringing heavy rainfall and flooding…

Organised crime gang targets CTP scheme

10 April 2017

Police believe a sophisticated crime syndicate is defrauding NSW’s compulsory third party scheme, costing it millions of dollars a year…

Calliden forced to pay brothel fire claim

10 April 2017

Two Canberra brothel owners have won an appeal against Calliden after the insurer refused to pay a $500,000 fire damage claim because they did not disclose their links to an outlaw motorcycle gang…

Industry slams 40% NZ fire levy rise

10 April 2017

The New Zealand insurance industry has criticised the rising fire service levy, saying taxes on cover encourage underinsurance and leave consumers exposed…

Mining market softness to persist: Marsh

10 April 2017

The Australian mining insurance market will remain soft this year, but reasons for large rate reductions will be scarcer, Marsh says in a global report on the sector…

In Insurance News (the magazine) this month

10 April 2017

Create a clear direction, have some fun in a high-energy environment, set bold challenges… just a few points in the strategy set by QBE’s Group CFO Pat Regan when he took over the Australian and New Zealand Operations division…

Property rate rises tipped to continue

03 April 2017

Premium rate increases in Australian property lines are expected to continue this year, according to the latest market review from broker Arthur J Gallagher…

Taylor Fry flags rising premiums and profits

03 April 2017

Modest premium increases in key personal lines and a long-awaited turn to growth in commercial classes should propel the insurance industry into a year of improved profitability, according to consultant Taylor Fry…

Disputes and rejected claims rise

03 April 2017

The number of disputes about general insurance products and services grew 31% to 30,171 in the last financial year, according to the industry’s Code Governance Committee…

Partnership the key to encouraging insurtechs

03 April 2017

Insurtechs are better off partnering with established insurers than trying to jump through regulatory hoops or sourcing the capital they need to compete against incumbents, according to a KPMG industry expert…