Aon urges focus on new risks
21 September 2015
Aon Benfield has identified seven key opportunities for insurers over the next five to 10 years, and says the industry must create more relevant products as demand for current ones wanes…
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FOS signs off on review recommendations
21 September 2015
The Financial Ombudsman Service board says it has implemented all recommendations from an independent review conducted in 2013…
Australian groups a target as heat rises in M&A market
21 September 2015
The environment for insurance mergers and acquisitions remains “hot” and Australia is expected to attract more deals and start-up activity, according to Clyde & Co…
NZ notes rise in cyber attacks
21 September 2015
Cyber attacks are on the rise in New Zealand as more organisations report security breaches, according to the Government Communications Security Bureau…
National car thefts down, but Victorian gangs step up activity
21 September 2015
Victoria has overtaken NSW to record the most short-term passenger and light commercial vehicle thefts, according to the National Motor Vehicle Theft Reduction Council…
Court finds Pratten guilty
14 September 2015
A jury has found Rural & General Insurance founder Charles Pratten guilty of seven charges of obtaining a financial advantage by deception…
Australia among top markets in Aon Benfield global report
14 September 2015
Global insurance premium totalled $US5 trillion last year, with property and casualty premium accounting for $US1.4 trillion, according to Aon Benfield…
NSW urged to act on flammable cladding threat
14 September 2015
Concerns have been raised over the potential dangers of flammable cladding on Sydney’s high-rise apartments…
Industry supplying most ARs, brokers say
14 September 2015
Brokerages building authorised representative businesses are finding “more than enough” potential recruits from inside the industry, according to Reliance Partners Managing Partner David Wyner…
Civic Assurance enters mediation over Canterbury stadium
14 September 2015
Christchurch City Council and its insurer Civic Assurance have entered mediation to resolve the council’s $NZ900 million earthquake insurance claim…
Ombudsman hails new dispute resolution system
14 September 2015
The Financial Ombudsman Service says its new “fast, efficient and fair” dispute resolution process is working well…
Demand grows for catastrophe models: Aon Benfield
14 September 2015
Australian insurers’ demand for catastrophe models will increase as companies try to gain a competitive edge in the shift to risk-based pricing, reinsurance broker Aon Benfield says…
M&A trend fuels transactional risk cover demand: Marsh
14 September 2015
Demand for transactional risk insurance is rising in Asia-Pacific as mergers and acquisitions ramp up, according to Marsh…
Softer market reflected in brokers’ statistics
07 September 2015
General insurance intermediaries invoiced $8.71 billion in premium in the six months to June 30, with all but 17% placed with licensed insurers, according to latest statistics from the Australian Prudential Regulation Authority…
Experts predict severe bushfire season
07 September 2015
Large areas of NSW, Victoria, southern Queensland and WA face above-normal bushfire risk this summer, according to the Bushfire and Natural Hazards Co-operative Research Centre…
Man-made perils pose biggest threat: Lloyd’s
07 September 2015
Man-made and natural disasters could cost Australia’s six biggest cities $US81.06 billion in GDP over the next decade, according to Lloyd’s…
New world ‘will make winners and losers’
07 September 2015
Insurers must grasp new opportunities in a rapidly changing world, or risk ending up on the scrapheap, says Berkshire Hathaway Specialty Insurance Australasia President Chris Colahan…
El Nino grows to second-strongest on record
07 September 2015
The current El Nino is now the strongest since the 1997/98 record event, according to the Bureau of Meteorology…
Australian risk management regime sets benchmark: Willis
07 September 2015
Australia and New Zealand have catastrophe-tested prudential standards that other nations can learn from, according to Willis Group…
Report lifts lid on premium funding
07 September 2015
One in three commercial premiums is funded, but the $4 billion premium funding market isn’t being given the attention it deserves, a new study of the sector and brokers says…