Study reveals rising threat from La Nina, El Nino
09 February 2015
Australia may be ravaged by more La Nina and El Nino events as the impact of climate change takes hold, scientists warn…
Local
Deloitte warns of cyber challenge for insurers
09 February 2015
Different approaches to covering cyber threats have created confusion in the insurance market, according to Deloitte Cyber Risk Services Partner Tommy Viljoen…
Bushfire victims agree $300 million payout
09 February 2015
Survivors of the Murrindindi-Marysville bushfire in 2009 have agreed to a $300 million settlement on the eve of a class action in the Victorian Supreme Court…
NZ insurance code ‘ahead of the wave’
09 February 2015
New Zealand’s insurance industry will “impose higher standards on itself” and has set a “high benchmark for self-regulation” with its new Fair Insurance Code, according to Insurance Council of New Zealand CEO Tim Grafton…
Crop insurance platform proposed
09 February 2015
Sydney-based management consultancy Strategis Partners plans to launch an agricultural risk management platform called Agricultural Risk Exchange…
ICA hails free construction code
09 February 2015
The annually updated National Construction Code will this year be available free for the first time, after federal and state building ministers agreed to drop the $400 charge…
Campaigners target young offenders as car thefts decline
09 February 2015
Motor vehicle theft has fallen more than 60% since 2001, with the drop almost 70% in NSW, latest figures show…
Industry at ‘turning point’ on profits
02 February 2015
Despite strong profits last year, the Australian insurance industry is at a turning point and now faces weaker growth and premium rate reductions, according to the latest JP Morgan/Taylor Fry General Insurance Barometer…
Insurers eke out profits in volatile landscape
02 February 2015
Australia’s general insurers remain profitable despite earnings volatility caused by natural catastrophes and intense competition, according to a new report from AM Best…
Finity wins north Queensland comparator job
02 February 2015
Insurers are in talks with the Australian Securities and Investments Commission over its controversial north Queensland home and contents comparison website, with some threatening not to participate…
Global leaders fear political risks over economic crises
02 February 2015
Geopolitical risks outweigh economic threats for the first time in the 10-year history of the World Economic Forum’s Global Risks report…
Cyber threat surges up global risk rankings
02 February 2015
Business interruption and supply chain issues, natural catastrophes and fires or explosions are the top three threats facing companies worldwide, according to the fourth annual Allianz Risk Barometer…
Insurers repay $27 million after Victorian FSL transition
02 February 2015
Fifty-six insurers have collectively repaid $26.9 million related to Victorian fire services levy over-collection and price increases…
FOS warns on fair and prompt claims resolution
02 February 2015
Fair and prompt insurance claim resolution falls under a financial service provider’s wider obligation to act with utmost good faith, the Financial Ombudsman Service says…
SA bushfire claims hit $33 million
02 February 2015
Bushfires that swept through the Adelaide Hills early last month have resulted in 936 claims worth $33.1 million…
Brisbane storm losses continue to rise
02 February 2015
The hailstorm that hit Brisbane on November 27 has led to more than 102,300 claims valued at $1.08 billion…
A NOTE FROM THE PUBLISHER
15 December 2014
This is the final scheduled insuranceNEWS.com.au bulletin for 2014. We will return on February 2, but while we’re in recess any significant industry news will be covered by our Breaking News service…
Insurers, reinsurers report $4.52 billion profit
15 December 2014
General insurers and reinsurers made a combined net profit of $4.52 billion in the last financial year, according to the latest company-level statistics from the Australian Prudential Regulation Authority…
State tells town planners: don’t mention climate change
15 December 2014
The Queensland Government has told a regional council to remove all references to projected sea level rises from its town planning scheme, prompting fears over future liability…
Brisbane hailstorm closes on $1 billion mark
15 December 2014
Estimated insurance losses from the November 27 Brisbane hailstorm now stand at $804 million, according to the Insurance Council of Australia…