New code of practice takes effect
06 July 2015
The revised General Insurance Code of Practice, aimed at giving customers “stronger and clearer rights”, has taken full effect following a 12-month transition period…
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Claims up, premium down for PI and PL
29 June 2015
Professional indemnity and public and product liability claims increased 27.7% last year to $2.05 billion, according to the Australian Prudential Regulation Authority’s National Claims and Policies Database…
Insurers battle it out in crowded strata market
29 June 2015
Plentiful capital and the massive growth of strata housing has led to a battle between insurers for a piece of the strata action…
Swiss Re helps windfarms cover calm days
29 June 2015
Swiss Re Corporate Solutions has teamed up with Infigen Energy to create Australia’s first hedging tool to cover risk in windfarms…
Report resurrects ‘ghosts of HIH’
29 June 2015
HIH Insurance failed in 2001, but the dust has yet to settle on one of the most spectacular collapses in Australian corporate history…
NZ insurers count cost of floods
29 June 2015
New Zealand insurers have received about 2000 claims amounting to nearly $NZ10 million ($8.9 million) following floods that swept across the lower North Island earlier this month…
NZ businesses ‘prone to cyber attackers’
29 June 2015
Cyber criminals may target New Zealand due to the country’s high proportion of “woefully underprepared” small businesses, insurers have warned…
Flood mapping picks up pace
22 June 2015
Insurers will soon have better data on flood-prone areas of central Queensland, when the Insurance Council of Australia releases version five of its national flood information database…
IAG unveils global catastrophe risk map
22 June 2015
IAG’s “groundbreaking” Global Risk Map has been unveiled as the latest weapon in the battle to secure investment in pre-disaster resilience…
New code of practice to kick in
22 June 2015
The revised General Insurance Code of Practice takes effect on July 1…
Consumer group campaigns for renewal ‘honesty’
22 June 2015
The Consumer Action Law Centre has started a campaign calling for insurers to be more transparent about premium changes…
WA begins flammable cladding audit
22 June 2015
About 70 high-risk buildings in the Perth CBD will be checked for flammable cladding, following similar action in Victoria…
Lawyers oppose privatising workers’ comp
22 June 2015
State and territory governments should reject a proposal to hand control of workers’ compensation schemes to commercial insurers, the Australian Lawyers Alliance says…
Insurers and reinsurers achieve $4.57 billion profit
15 June 2015
General insurers and reinsurers made a combined profit of $4.57 billion last year, according to the latest Australian Prudential Regulation Authority company-level statistics…
LMI hails more five-star claims services
15 June 2015
Four insurers have earned five-star ratings for the first time in LMI Group’s latest ClaimsComparison survey…
ICA states case for workers’ comp overhaul
15 June 2015
A report commissioned by the Insurance Council of Australia calls for greater harmony between state and territory workers’ compensation schemes…
Climate change ‘intensifies flash flooding’
15 June 2015
Australian communities face increasingly damaging flash floods as the planet warms, according to research by the University of NSW…
NSW court upholds confidentiality of PI policy
15 June 2015
The NSW Supreme Court has rejected a bank’s request for access to the professional indemnity policy of a company it is suing…
Call for rethink of credit card travel cover
15 June 2015
Allianz Global Assistance has called for an overhaul of the way travel insurance is provided with credit cards, following a review by the Australian Securities and Investments Commission…
NZ insurers agree to $NZ100,000 code fine
15 June 2015
Insurance Council of New Zealand members have agreed to a maximum fine of $NZ100,000 ($92,850) for unresolved significant breaches of the Fair Insurance Code, which takes effect on January 1…