Kaikoura quake claim count nears 15,000
05 December 2016
New Zealand’s Earthquake Commission has so far received 14,660 claims following last month’s 7.8-magnitude Kaikoura quake, according to figures updated this morning…
Local
Airlines ditch pre-selected travel cover
05 December 2016
Virgin Australia and its affiliated low-cost airline Tigerair have stopped pre-selecting travel insurance for customers using their online booking platforms, the Australian Competition and Consumer Commission says…
November hailstorm bill nears $200 million
05 December 2016
The insurance bill for the hailstorm that hit northwest Victoria, northeast SA and southern NSW on November 11 has reached $192.6 million from 28,146 claims…
Financial counsellors support FOS-CIO merger
05 December 2016
Most financial counsellors back a merger of the Financial Ombudsman Service and the Credit and Investment Ombudsman, according to a survey…
NMVTRC data to help car insurers
05 December 2016
Motor insurers can check the ages of passenger and light commercial vehicles stolen in each police jurisdiction over the past five years thanks to a new interactive tool developed by the National Motor Vehicle Theft Reduction Council…
Heatwaves ‘need categorising like cyclones’ to reflect dangers
05 December 2016
Heatwaves should be categorised in a similar manner to cyclones, according to Risk Frontiers lead scientist Thomas Loridan…
1600 insurance jobs lost this year, says union
28 November 2016
The Australian insurance industry has lost 1600 jobs this year, according to the Finance Sector Union…
La Nina fails to show
28 November 2016
The La Nina weather system, which typically brings increased rainfall and flooding to many parts of Australia, is looking increasingly unlikely to eventuate…
Fittings failures add to Wellington quake damage
28 November 2016
Non-compliant restraints for air-conditioning, telecommunications and other fittings likely caused damage to commercial buildings in Wellington during this month’s Kaikoura earthquake, according to the Insurance Council of New Zealand…
Mildura storm claims hit $120 million
28 November 2016
Claims from the hailstorm that hit northwest Victoria’s Mildura region earlier this month now total $120 million…
Climate monitor warns of ‘superstorm’ threat
28 November 2016
Climate change is fuelling “super-charged storms” and Australia is failing to combat the trend, according to a Climate Council report…
Data upgrade improves flood mapping
28 November 2016
Flood mapping accuracy has vastly improved following data additions to the Australian Rainfall and Runoff national guideline document…
NTI spreads word on preventable truck fires
28 November 2016
National Transport Insurance has started an awareness campaign following a growing number of truck fire claims…
Rising NZ quake losses could top $4 billion
21 November 2016
Insured losses from the earthquake in New Zealand last week may range from $NZ1.15-$NZ5.3 billion, catastrophe modeller AIR Worldwide estimates…
Industry’s annual profit rises to $3.1 billion
21 November 2016
Australian insurers and reinsurers recorded a combined net profit of $3.1 billion for the year to September 30, up from $2.4 billion the previous year…
Soft cycle tipped to persist
21 November 2016
General insurance will remain in a soft pricing cycle over the next couple of years, according to Taylor Fry director Kevin Gomes…
Mildura hail losses climb past $100 million
21 November 2016
About 19,200 claims totalling $108 million have been lodged with insurers since the severe hailstorm that struck northwest Victoria’s Mildura region more than a week ago…
Liability insurance sector evolving, actuaries told
21 November 2016
Liability insurers’ customer mix is changing, with the services sector dominating as manufacturing declines, Finity Consulting Actuarial Consultant Kim Nowaczyk says…
Canberra wins indigenous funeral cover appeal
21 November 2016
The Federal Government’s Department of Human Services has won a court appeal over the actions of a funeral insurer operating in indigenous communities…
S&P praises Australia’s ‘prudent, disciplined’ insurers
21 November 2016
Australian general insurers will achieve combined operating ratios of about 95% next year, even as premium growth remains flat, according to S&P Global Ratings…