NZ insurers have the resilience to cope with tough conditions
06 June 2016
New Zealand insurers are resilient enough to remain profitable despite increased competition, weak economic growth and soft prices, according to Standard and Poor’s…
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Flood group calls for more mitigation measures
06 June 2016
Increased investments in preventive flood measures such as levees and flood-proof roads can improve insurance affordability, according to Floodplain Management Australia…
Climate Institute urges insurers to ‘do more’ on disaster preparation
30 May 2016
Insurers should consider reviewing the way they manage climate change-related risks, according to the Climate Institute…
IAG sues power company over Perth bushfire
30 May 2016
IAG has launched legal action against Western Power and contractor Thiess Services over the January 2014 bushfire in the Perth Hills area of Western Australia which destroyed more than 50 buildings…
Monster El Nino finally over
30 May 2016
El Nino is officially over, with the Bureau of Meteorology confirming tropical Pacific Ocean temperatures and trade winds have returned to a neutral state…
Bond yield pressure on general insurers
30 May 2016
Insurers need to brace for lower investment income and a “stubborn” commercial lines market in FY17, according to Credit Suisse…
Queensland stays silent on Gold Coast cladding probe
30 May 2016
The Queensland Government has refused to confirm reports that two Gold Coast buildings have been found to contain non-compliant flammable cladding, which has been blamed for high-rise apartment fires in Melbourne and across the world…
Wellington suffering ‘continuous earthquake events’
30 May 2016
New Zealand capital Wellington has been subject to continuous earthquakes for the past three years, according to Earthquake Commission CEO Ian Simpson…
Industry profits hit by sharp fall in investment income
23 May 2016
The combined net profit for insurers and reinsurers in the year to March 31 fell by a massive 41.7% to $2.2 billion, pulled down in part by a sharp decline in investment income, according to the latest figures from the Australian Prudential Regulation Authority…
Insurers team up to help FNQ strata
23 May 2016
IAG and Suncorp have teamed up with James Cook University to help make North Queensland strata residences more cyclone-resilient – and cheaper to insure…
Victoria drops out of national car theft scheme
23 May 2016
The Victorian Government has no plans to reinstate funding to the National Motor Vehicle Theft Reduction Council, which is funded by governments and insurers to drive vehicle theft reform…
Court victory highlights UberX dilemma
23 May 2016
A Melbourne UberX driver has won an appeal against a conviction for operating a commercial passenger vehicle without a licence…
EQC aims to start liquefaction risk payments next month
23 May 2016
New Zealand’s Earthquake Commission expects to start making payments for increased liquefaction vulnerability cases next month as it looks to resolve 8000 outstanding land claims from the Canterbury earthquakes…
RACQ reveals home insurance gap
23 May 2016
An RACQ report has revealed the scale of home and contents underinsurance in Queensland…
Data analytics ‘can improve client engagement’
23 May 2016
Insurers keen to reach out more effectively to customers should consider using data analytics, according to marketing applications company Teradata…
Insurers deliver on privacy: Deloitte
23 May 2016
The insurance industry is the fourth most trusted in Australia, according to Deloitte’s annual Privacy Index…
Quake claims make Valentine’s Day an unhappy date
23 May 2016
Almost 13,000 Canterbury property owners have lodged damage claims following the magnitude- 5.7 Valentine’s Day earthquake this year, according to the latest Earthquake Commission figures…
Insurers, reinsurers make $2.4 billion profit
16 May 2016
General insurers and reinsurers made an overall net profit of $2.42 billion last year, according to annual company-level statistics from the Australian Prudential Regulation Authority…
Soft pricing hits bottom, S&P says
16 May 2016
The Australian non-life insurance sector has a stable outlook despite challenging market conditions and limited investment opportunities, according to Standard & Poor’s…
Urban areas unprepared for more intense rainfall: study
16 May 2016
Cities will be more vulnerable to flash floods as climate change intensifies storms, creating narrower and more concentrated downpours, according to an Australian study…