NZ-style disaster insurance ‘not for Australia’
27 June 2016
Insurance industry expert Allan Manning has rejected the suggestion that Australia could benefit from adopting natural disaster cover modelled on New Zealand’s Earthquake Commission…
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FOS director quits over conflict fears
27 June 2016
Chris McRae has resigned from the Financial Ombudsman Service board to eliminate any perceived conflict of interest with his role as an independent adviser to life insurance members…
East coast storm bill hits $235 million
20 June 2016
Insured losses from the storms that hit Queensland, NSW, Victoria and Tasmania earlier this month have more than tripled over the past week to $235 million…
Insurers hail move to drop flood risk by raising dam wall
20 June 2016
Insurers have welcomed the NSW Government’s plans to raise the wall of the Warragamba Dam by 14 metres, which will reduce the flood risk in the populous Hawkesbury-Nepean Valley…
Commonwealth appeals tax cheat Pratten’s ‘lenient’ sentence
20 June 2016
The Commonwealth Director of Public Prosecutions has lodged an appeal over the “manifestly inadequate” sentence handed down to insurance figure and tax fraudster Charles Pratten…
Victorian gangs drive rise in car thefts
20 June 2016
One-third of all vehicle thefts in Australia now occur in Victoria, with national figures up 6% in the year to March, according to the latest National Motor Vehicle Theft Reduction Council data…
Insurers agree $86 million claim from WA miner
20 June 2016
Australia-based insurers are among a group of 27 underwriters who have settled a property damage claim of $86 million from miner Mount Gibson Iron, according to Arthur J Gallagher…
Australia ‘still lagging on cyber risk’
20 June 2016
An expert on cyber risk has described Australia’s awareness of the issue as “terrible” and lagging well behind the US…
EQC begins liquefaction risk payouts
20 June 2016
New Zealand’s Earthquake Commission has started making payments to 4400 homeowners whose properties have been assessed as having increased liquefaction vulnerability…
In Insurance News (the magazine) this month
20 June 2016
The people taking insurance forward to a less predictable future speak out in the latest edition of Insurance News (the magazine)…
Privatisation opens new doors for insurers, S&P says
14 June 2016
Insurers can tap into an additional market potentially worth $17 billion in annual gross written premium as privatisation of state-run compensation schemes gathers pace, according to Standard & Poor’s…
East coast storm bill $74.3 million and rising
14 June 2016
Insured losses from the huge east coast storms have reached $56 million and are expected to rise further after insurers finish tabulating claims, the Insurance Council of Australia says…
ICA urges politicians to step up mitigation spending
14 June 2016
The Insurance Council of Australia has called for increased spending on mitigation programs as communities hit by the East Coast storms continue to rebuild…
Ansvar forum addresses church arson
14 June 2016
Ansvar Insurance has held an “interfaith arson forum” in Victoria following a spate of church fires in Melbourne and Geelong over the past year…
NZ client sentenced for IAG extortion bid
14 June 2016
New Zealand resident Christopher Robinson has been sentenced to nine months’ home detention for trying to extort $NZ5.5 million from IAG…
Threat remains from faulty Infinity cable
14 June 2016
The Australian Competition and Consumer Commission has again urged residents to have their homes checked by qualified electricians for potentially dangerous Infinity electrical cables…
Consumer NZ raises concern on funeral cover
14 June 2016
New Zealanders with funeral insurance could pay double what their policy is actually worth, according to a consumer advocacy group…
East Coast storm will cost insurers tens of millions (updated)
06 June 2016
Storms that hit Queensland last Friday and moved down the NSW coast over the weekend to hit Tasmania today will cost insurers tens of millions of dollars based on claims so far received, the Insurance Council of Australia says…
Autumn was Australia’s hottest yet
06 June 2016
An El Nino year and global warming combined to give Australia its hottest autumn on record, according to the Bureau of Meteorology…
Taskforce recalled to co-ordinate hazard reduction burns
06 June 2016
The Queensland Government has renewed funding for Taskforce Marcia in Rockhampton to identify high fire risk areas caused by Tropical Cyclone Marcia in February 2015…