ICNZ unveils natural hazards plan
10 November 2014
The Insurance Council of New Zealand has released a 15-point plan aimed at reducing the impact of natural hazards…
Local
FOS makes inroads into backlog
10 November 2014
The Financial Ombudsman Service closed more disputes in the September quarter as it worked through its backlog…
Wivenhoe Dam class action trial set for 2016
10 November 2014
A class action trial concerning operation of the Wivenhoe and Somerset dams during the 2011 Queensland floods is scheduled for July 2016 once an amended claim is filed…
Insurance dominates NZ ombudsman’s caseload
10 November 2014
More than half of disputes handled by the New Zealand Insurance and Savings Ombudsman last financial year related to general insurance…
NMVTRC teams with uni on car rating system
10 November 2014
The National Motor Vehicle Theft Reduction Council has combined its theft risk rating system with Monash University’s safety rating guide to help car buyers make more informed decisions…
IAG chief warns of NZ demographic challenges
10 November 2014
New Zealand insurers must ensure their products remain relevant and widely purchased as the nation’s population changes, IAG NZ CEO Jacki Johnson says…
Cormann looks to ease consumer fears on UFIs
03 November 2014
North Queensland residents who buy insurance through unauthorised foreign insurers (UFI) will be protected by their broker’s involvement, Finance Minister Mathias Cormann says…
Snowball questions north Queensland initiatives
03 November 2014
Suncorp CEO Patrick Snowball is “not convinced” the Federal Government’s plans to bring down home and contents premiums in north Queensland will work and he has called for mitigation measures instead…
FOS forces full payouts on vehicle write-offs
03 November 2014
Insurers have reimbursed customers about $290,000 after a Financial Ombudsman Service review found inadequate payments were made for vehicles written off in accidents…
Policy institute joins in disaster mitigation calls
03 November 2014
The Australian Strategic Policy Institute has called for greater disaster resilience and mitigation planning, echoing recent recommendations from insurers, the Australian Business Roundtable for Disaster Resilience & Safer Communities and the Productivity Commission…
Prepare for a faster FOS, industry told
03 November 2014
Insurers and brokers will soon face pressure to deal with customer disputes faster as the Financial Ombudsman Service clears its backlog…
Quake risk still hangs over Newcastle
03 November 2014
Another earthquake as strong as one that killed 13 people in 1989 could hit Newcastle, according to catastrophe modeller Risk Frontiers…
Canterbury quake payouts hit $11.5 billion
03 November 2014
Payouts by insurers following the Canterbury earthquakes have passed the $NZ13 billion mark, according to the Insurance Council of New Zealand…
UK’s Flood Re scenario wouldn’t work in Australia: ICA
03 November 2014
Australia is unlikely to ever set up a flood reinsurance pool in Australia similar to Britain’s Flood Re, a seminar hosted by Risk Frontiers in Sydney was told last week…
Kidnap risk on the rise, warns Catlin
03 November 2014
Australian companies face a heightened risk of staff being kidnapped while working overseas, according to Catlin Australia Specialty Underwriter Des Partridge…
New technology ‘creates regulatory challenge’
03 November 2014
The speed of change and advent of new media create more opportunities to provide information but there are also traps for consumers and a regulatory challenge, the Financial Ombudsman Service conference heard last week…
Ads will drive home car-key security message
03 November 2014
A television and cinema community service ad campaign alerting people to the growing incidence of car-key theft starts this week…
Date set for Charles Pratten retrial
03 November 2014
Rural & General Insurance founder Charles Pratten was last week granted a court date for his retrial on offences relating to obtaining a financial advantage by deception…
Brokers urged to alert SMEs to reputation risks
03 November 2014
Brokers should be warning their SME clients that smaller companies are now as susceptible as large companies to reputational risk due to the rise of the internet, according to insurer Catlin…
Brokers, insurers reject Government’s north Queensland moves
27 October 2014
Insurers and brokers have criticised plans for a Federal Government-run comparison website for north Queensland insurance…