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…
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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…
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…