Australians urged to collaborate over cyber risks
13 March 2017
A risk expert has called for increased collaboration between the insurance industry and a range of parties to counter Australia’s increasing vulnerability to cyber risks…
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Ice contamination worries NZ insurer
13 March 2017
IAG New Zealand says cases of contamination as a result of methamphetamine being produced in private homes are rising fast, and confusion over cover is causing problems for landlords…
North Island counts cost of storm damage, flooding
13 March 2017
Landslips damaged seven homes in New Zealand’s Coromandel Peninsula during a one-in-100-year storm last week…
Climate Institute forced to close as funds dry up
13 March 2017
The Climate Institute will close on June 30 after failing to secure enough funding to continue operations…
Intermediaries place $9.7 billion in premium
06 March 2017
Australian insurance intermediaries invoiced $9.7 billion in premium during the six months to December 31, according to the latest statistics from the Australian Prudential Regulation Authority…
NSW hailstorm bill tops $350 million
06 March 2017
The insurance bill for the hailstorm that pummelled parts of Sydney and the Illawarra on February 18 has passed $350 million, according to latest figures from IAG and Suncorp…
El Nino odds rise as ocean warms
06 March 2017
The likelihood of an El Nino climate event, often associated with greater bushfire risk, this year has risen to 50%, the Bureau of Meteorology says…
NSW tests DipStik flood warning system
06 March 2017
NRMA Insurance is trialling a flood-monitoring device that could stop motorists and pedestrians being swept away and save millions of dollars…
Gippsland bushfire plaintiffs collect $8 million
06 March 2017
Plaintiffs in the Jack River bushfire class action have received final compensation payments totalling more than $8 million from power company AusNet and its vegetation management contractor BJ Murphy…
EQC drills down to aid Kaikoura claims
06 March 2017
New Zealand’s Earthquake Commission is drilling for soil samples as part of the claims settlement process following the Kaikoura earthquake in November…
Fintechs enjoy record investment
27 February 2017
Australia’s “healthy and active” fintech sector attracted a record $US656 million in investment last year, more than three times that of 2015, according to KPMG…
Broker network welcomes iSelect
27 February 2017
The decision last week by Insurance Brokers Network Australia to accept iSelect as a member has raised concerns in the industry, with insurers and brokers fearing the move could assist online comparators to increase their influence…
NSW hailstorm losses climb further
27 February 2017
Losses from the Sydney hailstorm earlier this month have risen to $58 million, according to the Insurance Council of Australia…
Brokers struggle with language barrier, survey reveals
27 February 2017
Only about 31% of brokers consistently provide assistance to non-English-speaking clients who want to lodge complaints, according to an online questionnaire undertaken by the insurance broking industry’s Code Compliance Committee…
Quake uncovers new underinsurance risk
27 February 2017
The Kaikoura earthquake has highlighted the risks of underinsurance following the switch to a sum-insured system for buying cover, New Zealand’s Insurance and Financial Services Ombudsman Karen Stevens says…
Broker banned, but brothers keep legacy alive
27 February 2017
The late Phil Doring’s broker son Tony was last week banned from providing insurance services, but his brothers are continuing their father’s legacy by investing in a new company carrying the Doring name…
ICA defends industry’s Nth Queensland premiums
27 February 2017
A Cairns mortgage broker wants a government-owned insurer to compete with private insurers, claiming they are cashing in on spiralling insurance premiums in north Queensland…
ICA forum tackles tough issues
20 February 2017
Industry conferences sometimes fail to tackle the real issues, but the Insurance Council of Australia annual forum in Sydney on Friday packed serious punch…
NSW reels as hailstorm, bushfires strike (updated)
20 February 2017
NSW has been pummelled by two natural catastrophes over the past week, with bushfires devastating several regional areas and Sydney and Wollongong being battered by a hailstorm on Saturday…
Industry profit surges on underwriting, investment gains
20 February 2017
Australia’s insurers and reinsurers earned a combined after-tax net profit of $2.9 billion last year, up 22.7% compared with 2015, latest statistics from the Australian Prudential Regulation Authority show…