Munich Re warns on soaring natural disaster costs
16 November 2015
Natural disasters cost the Australian economy $6.3 billion a year, and the sum is expected to climb to $23 billion by 2050, according to a new report from Munich Re…
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El Nino still has room to grow
16 November 2015
The current El Nino has been established for six months but still has not peaked, according to the Bureau of Meteorology…
NZ claims database generates real-time fraud alerts
16 November 2015
New Zealanders “double-dipping” on claims or pretending to lose their phones so they can get the latest models will be immediately flagged thanks to the new Insurance Claims Register…
Insurers’ survival depends on customer focus: KPMG
16 November 2015
Customer-centricity lies at the heart of innovation and also at the heart of insurers’ very survival, according to a KPMG report on New Zealand’s insurance industry…
Fire risk apartments ‘didn’t follow approved plans’
16 November 2015
Melbourne apartments built using non-compliant cladding were not constructed in accordance with approved plans, it has been revealed…
NZ regulator pinpoints ‘too big to fail’ insurers
16 November 2015
The Reserve Bank of New Zealand has for the first time compiled a list of insurers it considers too important to fail – but won’t say who they are…
LMI chief talks drones, clones and automobiles
16 November 2015
Game-changers for insurers over the next 5-10 years include 3D printers that can build houses and fix broken bones, drones that can photograph asbestos and deliver humanitarian aid, and driverless cars, according to an industry expert…
El Nino ‘good news for insurers’
09 November 2015
The El Nino weather phenomenon will benefit Australian general insurers, according to a new report from Morgan Stanley…
Bushfire outlook worsens in SA, Tasmania
09 November 2015
The Bushfire and Natural Hazards Co-operative Research Centre has today reissued its outlook for southern Australia following an “exceptionally dry” spring…
Scrapping insurance taxes would save $575 million
09 November 2015
Abolishing inefficient insurance taxes would save governments $575 million over five years and increase public spending by more than $5.5 billion, according to research commissioned by the Insurance Council of Australia…
Insurers have key to driverless cars: Zurich
09 November 2015
Insurers have a vital role to play in developing new approaches to driverless cars, according to Zurich Head of Risk Engineering Australasia Mervyn Rea…
Australia ‘ill-prepared for major quake’
09 November 2015
An earthquake of magnitude six or above could have catastrophic consequences for major cities in Australia unless changes are made to the building code, according to a risk modeller…
NZ-US study identifies liquefaction solutions
09 November 2015
New Zealand’s Earthquake Commission has released a report on making residential land less vulnerable to liquefaction, following two years of research involving local and US experts…
More apartments spark flammable cladding fears
09 November 2015
Experts fear another Melbourne apartment block found to have non-compliant building cladding could become a death trap – because it has no sprinklers installed…
Insurers settle 70% of Canterbury claims
09 November 2015
Private insurers have settled $NZ15.9 billion of Canterbury earthquake claims, according to the latest Insurance Council of New Zealand update released today…
Catastrophes hit insurer profits: KPMG
02 November 2015
A spate of catastrophes hit Australian general insurers hard during the last financial year, according to a new KPMG report…
Test case looms over mental health exclusion in travel cover
02 November 2015
A 21-year-old woman has taken QBE to the Victorian Civil and Administrative Tribunal over its blanket exclusion of mental illness in its travel insurance policy – in a case that could have widespread ramifications for the industry…
Insurers ‘fall short on climate change’
02 November 2015
The World Wildlife Fund has criticised insurers IAG, QBE and Suncorp for not meeting international benchmarks for disclosure about the impact of global warming and for failing to advocate stronger action on climate change…
Market entrants ‘picking low-risk flood covers’
02 November 2015
New insurers are “cherry-picking” the best clients, according to an industry expert…
Consumers left waiting for $12 million compensation
02 November 2015
The Financial Ombudsman Service says 188 consumers are still awaiting compensation despite rulings in their favour…