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…
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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…
Consumer group investigates warranties, add-ons
11 May 2015
The Consumer Action Law Centre has called on insurers to stop third parties selling add-on covers if they want to avoid their brands being associated with mis-selling…
NZ margins rise, but earnings risk lingers
11 May 2015
New Zealand insurers are enjoying record profitability but Canterbury earthquake claims still pose a risk to their earnings, according to a report by Credit Suisse…
Vero cuts midwives’ insurance scheme
11 May 2015
Vero has withdrawn its professional indemnity cover for private practice midwives after concluding the product is no longer viable…
Insurers edge closer to concluding Canterbury claims
11 May 2015
New Zealand insurers have paid $NZ15 billion ($14.14 billion) to settle residential and commercial claims since the Canterbury earthquakes of 2010 and 2011, the Insurance Council of New Zealand says…
IAG rethinks losses as ICA declares fifth catastrophe
04 May 2015
IAG has raised its guidance on catastrophe losses for this financial year, following six extreme weather events since last November that have generated $2.24 billion in claims…
Suncorp wants funding for north Queensland plan
04 May 2015
Suncorp wants the Federal Government to help fund a strategy it has developed to improve cyclone resilience in north Queensland…
Brokers hit out over Suncorp direct strata product
04 May 2015
Suncorp’s new direct offering for small strata properties has drawn fire from brokers, with the National Insurance Brokers Association warning property owners about the product…
Flood study clouds thinking on climate change
04 May 2015
Researchers from the University of Adelaide have discovered much greater complexity in assessing the potential for flood risk than previously realised…
Brokers improve code promotion
04 May 2015
Brokers are getting better at promoting the Insurance Brokers Code of Practice, the Financial Ombudsman Service says…
Mortgage lenders, brokers are underused channels: QBE
04 May 2015
Insurance providers can grow their business by selling more products through banks and mortgage brokers when properties are bought, according to QBE Lenders’ Mortgage Insurance CEO Jenny Boddington…
Insurers urged to help tackle high-rise fire threat
04 May 2015
The Fire Protection Association has called on insurance companies to help drive up building standards by being more rigorous in selecting the risks they take on…
FOS complaints rise
04 May 2015
Complaints to the Financial Ombudsman Service totalled 8341 in the first quarter, up by 7% on the previous quarter and 4% on the corresponding period last year…
NSW storms bill estimated at $244 million
27 April 2015
Last week’s Sydney storms caused estimated insurance losses of $244 million from 34,950 claims, and will test the reliability of flood cover definitions…
NSW storms ‘not unusual’
27 April 2015
The storms that battered parts of NSW last week are not uncommon and usually do less damage than tropical cyclones, according to Munich Re…
Aon reveals top risks facing Australian businesses
27 April 2015
The local economy is the most pressing concern for business leaders, according to Aon’s Australian Risk Survey…
Industry warned over technology, new competition
27 April 2015
Brokers and insurers face increased competition, Suncorp Commercial Insurance CEO Anthony Day told last week’s Steadfast Convention…
ANZ home cover rates first on Choice list
27 April 2015
ANZ’s home and contents policy offers the best coverage and is the only product on the market that includes total replacement as standard, according to Choice…