Summer catastrophes cost insurers $500 million
01 February 2016
The Insurance Council of Australia says four catastrophes declared since November have cost insurers more than $500 million…
Local
Growth a challenge in tough market: Morgan Stanley
01 February 2016
Australian general insurers will find it difficult to generate growth as premium income continues to be pressured by stiff competition and investment yields remain depressed, Morgan Stanley says…
New finds exacerbate flammable cladding ‘crisis’
01 February 2016
A further seven Melbourne high-rise buildings have been found to feature non-compliant building cladding, sparking fresh safety fears…
Dodgy cables pose summer threat, watchdog warns
01 February 2016
Potentially deadly Infinity cables may degrade in hot summer months, causing fires and electrocution, the Australian Competition and Consumer Commission warns…
Businesses show risky attitude to Asian interruptions
01 February 2016
Australian businesses underestimate the importance of insuring against Asian supply chain interruptions, according to a new report…
Canterbury claims near end after ‘impressive’ 2015
01 February 2016
Private insurers are on track to settle the vast majority of Canterbury earthquake claims by the end of this year, according to the Insurance Council of New Zealand…
A NOTE FROM THE PUBLISHER
15 December 2015
This is the final scheduled insuranceNEWS.com.au bulletin for 2015. We will return on February 1, but while we’re in recess any significant industry news will be covered by our Breaking News service…
Natural disasters, slowdown the key risks ahead: Fitch
14 December 2015
A sharp economic downturn and large natural catastrophes are the main risks facing Australian and New Zealand insurers, according to Fitch’s outlook for next year…
Flood group urges insurers to share data
14 December 2015
Floodplain Management Australia says insurers should be more open to sharing flood data to enable better assessment of risks…
NT insurance costs ‘exclude’ low-income households
14 December 2015
Low-income households face “insurance exclusion” due to rapid premium rises, according to a report from the Northern Territory Council of Social Service…
Human touch still crucial in age of automation: Suncorp
14 December 2015
Increasing automation is revolutionising the underwriting industry, but the human touch remains vital, according to a new Suncorp white paper…
Firefighters slam flammable cladding response
14 December 2015
Melbourne’s Metropolitan Fire Brigade has strongly criticised the response to last year’s blaze at the Lacrosse apartments in the city’s Docklands, which spread rapidly due to the presence of flammable building cladding…
Industry standing firm despite headwinds: S&P
14 December 2015
Australian and New Zealand general insurers are financially strong and the sector’s outlook remains stable despite difficult business conditions, according to Standard and Poor’s…
In Insurance News (the magazine) this month
14 December 2015
Technology and change – and there’s plenty of change going on – feature in the December/January issue of Insurance News (the magazine)…
Insurers welcome coastal mapping plan
07 December 2015
The Insurance Council of Australia has welcomed a comprehensive coastal mapping project to be drawn up by the Federal Government…
AusNet disputes Coroner’s Black Saturday finding
07 December 2015
Power company AusNet has rejected a Victorian Coroner’s Court finding that one of the deadly Black Saturday bushfires in 2009 was caused by a failed power line…
Paris hears IAG’s call for united front on disaster management
07 December 2015
Greater collaboration among governments, insurers and other stakeholders is the key to building disaster-resilient communities, according to the IAG-led PSI Global Resilience Project…
Aon warns councils on cyber threat, JLT says ‘We’ve got it covered’
07 December 2015
Councils are uniquely exposed to cyber risk and should give greater consideration to specific cyber policies, Aon says…
SA bushfire claims pass $119 million
07 December 2015
The number of insurance claims from recent bushfires in SA has reached 1344 and the value of insured losses stands at $119.7 million, according to the Insurance Council of Australia…
Survey to rate Christchurch claims experience
07 December 2015
A customer survey on insurers’ actions after the Christchurch earthquakes is under way, aiming to help create an industry best practice…