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)…
Local
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…
UK’s motor fraud issues reflected in NSW
06 June 2016
NSW is now experiencing the same issues the UK has had with car insurance fraud in the past decade, says UK Insurance Fraud Taskforce Chairman David Hertzell…
Funeral insurance ‘is about knowing what to look for’
06 June 2016
Financial services researcher Canstar says the main challenge for consumers seeking a good funeral insurance policy is knowing what to look for…
Marine industry ‘threatened by UK changes’
06 June 2016
The Australian marine insurance industry will struggle to compete in the global marketplace unless legislation is reformed to bring it in line with the UK, says the Maritime Law Association of Australia and New Zealand…
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…
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…