Disasters drive up claims
01 June 2015
General insurers’ gross incurred claims grew 21.8% to $31.2 billion in the year to March 31 amid higher catastrophe claims, industry data shows…
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El Nino ‘gaining strength’
01 June 2015
The El Nino climatic effect continues to strengthen and will last at least into the Australian spring, according to the Bureau of Meteorology’s latest update…
NZ insurers, brokers reject fire levy proposals
01 June 2015
New Zealand insurers and brokers have slammed the Government’s proposals for reform of fire service funding…
Regulator probes 170 buildings after Docklands blaze
01 June 2015
The Victorian Building Authority will investigate 170 inner Melbourne buildings to check whether flammable cladding was used in their construction…
Court approves final Black Saturday payouts
01 June 2015
The Supreme Court of Victoria has approved a $300 million settlement of the final class action brought by survivors of the Black Saturday bushfires…
Swiss Re warns of increasing bushfire threat
25 May 2015
Bushfire losses have grown in frequency and size in the past decade, according to a Swiss Re report on emerging risks…
IAG urges business to be bold in Asia
25 May 2015
Australian business must act bravely in engaging with Asia, IAG MD and CEO Mike Wilkins says…
Lawyers warn NIIS threatens legal rights
25 May 2015
More than 80% of personal injury lawyers consider the National Injury Insurance Scheme a backward step for consumers, according to a survey for the Australian Lawyers Alliance…
Pratten retrial pushed back
25 May 2015
A court has postponed until June 1 the retrial of Rural & General Insurance founder Charles Pratten over offences relating to obtaining a financial advantage by deception…
Captive market thriving: Marsh
25 May 2015
The captive market continues to thrive but growth in Australia is limited, according to a new report from Marsh…
Organised criminals cash in on cyber attacks
25 May 2015
Criminal gangs are benefitting from society’s increased reliance on digital technology, the Australian Crime Commission has warned…
Improved data shows crooks’ focus on scooters
25 May 2015
A new classification system for motorcycle thefts reveals motor scooters are a favourite target…
Insurers lose out in proportionate liability case
18 May 2015
Litigants are even more likely to target defendants who carry insurance after the High Court last week narrowed the scope of proportionate liability claims…
El Nino arrival sparks bushfire warning
18 May 2015
El Nino has arrived, and it may combine with other weather systems to create severe bushfire conditions in parts of Australia…
NZ brokers, insurers lose fire service levy case
18 May 2015
New Zealand’s insurance industry is pressing the Government to change the law on funding for fire brigades, after the country’s highest court ruled in favour of the Fire Service in its long-running battle with insurers and brokers over the fire service levy on commercial policies…
Catastrophes to hit insurer earnings: AM Best
18 May 2015
A series of recent natural catastrophes is expected to materially affect Australian insurers’ earnings, according to AM Best…
Two more Victorian buildings found with flammable cladding
18 May 2015
The Victorian Building Authority has identified two more buildings using the same flammable cladding that contributed to a Melbourne Docklands blaze in November…
Moody’s cuts LMI outlook as reinsurer threat looms
18 May 2015
The long-term future of Australian lenders’ mortgage insurance may be threatened by banks switching to products from “more diverse” global reinsurers, Moody’s warns…
ISO reviews risk management standard
18 May 2015
The revision of a key risk management standard is under way and may take until the end of 2017 to complete, the International Organisation for Standardisation says…
Disaster losses rise as people move to the coast
11 May 2015
Insurance losses are likely to grow by about 5-6% a year over the next decade, according to modelling for the Productivity Commission’s report on natural disaster funding…