Potential remains for severe southern NSW, Victoria bushfires
30 October 2023
Potential remains for severe bushfires in southern NSW and Victoria this summer after an early active start to the season, despite recent rainfall, Risk Frontiers says...
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Industry premiums to top $123 billion by 2027: GlobalData
30 October 2023
Direct written premiums in the Australian general insurance market are projected to reach $86.8 billion this year and rise to $123.1 billion in 2027, according to data analytics and consulting firm GlobalData...
FIS report backs industry innovation to tackle ongoing risks
30 October 2023
A new report from fintech firm Fidelity National Information Services flags insurer confidence to take on current industry challenges and marks the importance of new technologies such as Artificial Intelligence as part of their mitigation tactics...
Perils provides final loss estimate for Southeast Australia floods
30 October 2023
Swiss-based catastrophe data firm Perils has estimated the final insured loss total for last October’s floods in NSW, Victoria and Tasmania at $965 million...
WTW says government should subsidise parametric option
30 October 2023
WTW is calling on the Queensland Government to pay part or all of the premium paid by sugarcane farmers for its parametric offer that covers yield shortfalls caused by reduced application of nitrogen fertiliser...
Post Kaikōura research debunks one-size-fits-all building code application
30 October 2023
A Canterbury earthquake expert has created a guide to help engineers produce more resilient safety-critical structures after new research into why earthquake shaking varies across Wellington...
UNSW warns on risks from inadequate bushfire cover
23 October 2023
Increasing bushfire risks are raising the potential for policyholders to become underinsured, while also elevating concerns about affordability and availability of cover, a UNSW insurance expert says...
Waning cash buffers and worsening profitability impact insolvencies
23 October 2023
Business insolvencies in Australia are set to rise 29% this year and 5% in 2024 as excess cash dwindles, leaving vulnerable companies “caught between a rock and a hard place,” Allianz Trade says...
Out-of-season Tropical Cyclone Lola intensifies
23 October 2023
Tropical Cyclone Lola was today intensifying after it was named by the Fiji Meteorological Service ahead of the start to the southern hemisphere season...
ICA announces consultation event for SA flood victims
23 October 2023
The Insurance Council of Australia will host a second consultation event in Adelaide for policyholders affected by last year’s River Murray flood...
Industry can have greater role as challenges rise: ICA President
16 October 2023
The insurance industry is crucial in taking the pressure off the public purse when disasters strike and needs to play a larger role in shaping the agenda for the country’s future, Insurance Council of Australia President Nick Hawkins says...
Feud over leaking pipes closely watched for insurance impact
16 October 2023
A long-running feud over more than 1500 burst pipes in newly constructed WA homes may be potentially costly for insurers, depending on how the dispute plays out...
UNSW study identifies cities’ increased hail risk
16 October 2023
New research from the University of NSW has revealed that the number of “hail-prone” days for heavily populated areas in NSW and WA has increased by as much as 40%...
In Insurance News magazine this month
16 October 2023
Our annual wellbeing survey gives an insight into how insurance professionals are coping – and chief among their concerns is burnout. The October/November issue of Insurance News magazine presents the survey results in detail, and makes for captivating, if confronting, reading...
Camp operators face ‘crippling’ insurance challenges
16 October 2023
Extreme weather and increasing liability risk are causing premiums to rise to unaffordable levels for camp venue operators, and the Insurance Council of Australia is working with stakeholders on ways to ease the crunch...
El Nino in effect, IOD index nears peak: bureau
16 October 2023
The Bureau of Meteorology's latest Climate Driver Update says the El Nino and positive Indian Ocean Dipole have strengthened since its last update...
NTI says businesses should ‘heed El Nino warnings’
16 October 2023
Transport, shipping and logistics insurer NTI says now is the time for business owners to prepare for risks associated with the onset of El Nino and positive Indian Ocean Dipole...
Consumer switching rises as cost-of living pressures bite
09 October 2023
More consumers are considering switching household insurance policies as cost-of living pressures put pressure on budgets, Roy Morgan survey data shows...
Fels urges consideration of mandatory comparison site
09 October 2023
Consumer affairs expert and economist Allan Fels says “serious consideration” should be given to a mandatory personal lines comparison website to increase competition...
Below average cyclone tally expected due to El Nino
09 October 2023
This coming cyclone season is likely to produce a “below average” number of storms because of the El Nino impact, the Bureau of Meteorology has predicted...