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…
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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…
EQC moves forward with liquefaction settlements
02 November 2015
About half of the 8500 homeowners shortlisted for increased liquefaction vulnerability payouts in Canterbury will receive compensation…
NSW council hopes flood mapping cuts premiums
02 November 2015
Port Stephens Council in NSW says its new floodplain policy and mapping should help reduce unnecessarily high flood insurance premiums paid by some residents…
Australians embrace smartphone technology, study shows
02 November 2015
Almost 80% of Australians own at least one smartphone, according to a Deloitte survey…
Workplace fatality rate continues to fall
02 November 2015
The rate of workplace deaths in Australia has been in steady decline for the past decade, according to a new report…
Bushfire outlook worsens
26 October 2015
The Bushfire and Natural Hazards Co-operative Research Centre is preparing to update its outlook for southern Australia as conditions continue to deteriorate…
Australian businesses fall behind on risk monitoring
26 October 2015
Australian companies risk falling further behind counterparts in other industrialised economies if they continue to lag in risk management, according to an Ernst & Young global survey…
Lacrosse owners ordered to replace flammable cladding
26 October 2015
More than 400 apartment owners in Melbourne have been ordered to replace non-compliant external cladding after a devastating fire hit their building last November…
Bundaberg to get 10-year flood plan
26 October 2015
Bundaberg will get a 10-year flood action plan on the completion of a new flood study, the Queensland Government says…
Brokers’ compliance committee sets out year of activity
26 October 2015
The Insurance Brokers Code of Practice’s Code Compliance Committee has a busy year ahead, according to its latest annual report…
Digital future for insurance ‘is not just about technology’
26 October 2015
A paper by US telecommunications giant Verizon highlights the importance of cultural change as a precondition for successfully implementing digital strategies in insurance companies…
General insurance disputes rise
26 October 2015
The number of disputes lodged with the Financial Ombudsman Service increased 1% to 31,895 last financial year…
June storms cost NZ insurers $46 million
26 October 2015
Extensive flooding on the lower North Island and the west coast of the South Island in June cost insurers $NZ50 million, bringing the year’s disaster total to $NZ113 million, according to the Insurance Council of New Zealand…
Entsch slams ‘misleading, disruptive’ ICA
19 October 2015
Federal backbencher Warren Entsch has fired another broadside at the insurance industry, accusing it of ignoring the “insurance crisis in northern Australia”…
Majors in no rush to join comparison sites
19 October 2015
With the exception of the health sector, major insurers are unlikely to jump on the comparison website bandwagon any time soon, according to analysts…