General insurance disputes fall
13 October 2014
The number of disputes received by the Financial Ombudsman Service fell 2% to 31,680 last financial year, according to its annual report…
Local
Bridgecorp-Lloyd’s case goes to Court of Appeal
13 October 2014
The receiver of failed financier Bridgecorp has argued a $NZ20 million ($17.79 million) claim against a Lloyd’s syndicate should be heard in New Zealand rather than England…
BOM steps up tropical cyclone warnings
13 October 2014
A review of tropical cyclone warnings has led to a decision to have hourly updates for some Category 2 systems in the coming season…
Wellington fault unlikely to shake up premiums
13 October 2014
Premiums are unlikely to rise after the discovery of another fault line in Wellington, because a high level of risk was already assumed, the Insurance Council of New Zealand…
In this month’s edition of Insurance News (the magazine)
13 October 2014
Australian insurers have held premiums up for a remarkably long time, recording a $4.96 billion profit last year – but the easy times are coming to an end. The October-November issue of…
Emerging risks ‘present opportunity’ for brokers
06 October 2014
Brokers should take on a broader advisory role to meet the expectations of clients grappling with new risks, according to PricewaterhouseCoopers…
FSL monitor offers amnesty to Victorian brokers
06 October 2014
Victoria’s Fire Services Levy Monitor Allan Fels will give brokers a month’s amnesty to ensure they have not applied the charge following its abolition on July 1 last year…
Canstar reveals home and contents champions
06 October 2014
Canstar has named CommInsure, AAMI, OnePath and ANZ as its annual award winners in home and contents insurance categories…
Car theft rates fall further
06 October 2014
The number of motor vehicle thefts nationwide has fallen to its lowest level since the 1970s, according to a new report…
Power company faces Victorian bushfire class action
06 October 2014
Bushfire litigation specialist Maddens Lawyers has launched a $50 million class action for 150 property owners burned out by the Mickleham-Kilmore bushfire…
NZ consumer group demands action on home calculations
06 October 2014
Insurers should take more action to ensure homeowners do not unwittingly underinsure, according to a New Zealand consumer group…
EQC prepares for Canterbury wind-down
06 October 2014
The New Zealand Earthquake Commission has called for a more consistent, coherent and co-ordinated approach to managing natural hazard risk…
Public sector urged to adopt risk management ethos
06 October 2014
Public sector entities must include risk management in their everyday activities, Federal Auditor-General Ian McPhee says…
Insurer profit rises despite growing competition
29 September 2014
Australian insurance profits grew 8.3% last financial year to a post-global financial crisis record of $4.96 billion amid escalating competitive pressures, according to KPMG…
HIH liquidations edge closer
29 September 2014
Companies in the collapsed HIH group continue to pay out to creditors and are now closed to new claims…
FOS expands role on small business cover
29 September 2014
The Financial Ombudsman Service will widen its small business insurance responsibilities after its board supported most changes proposed in a terms of reference review…
Motor insurance revenues to rise
29 September 2014
Rising vehicle numbers will help drive Australian commercial motor insurance revenues to about $4 billion in the next five years, according to a report by Ibisworld…
NZ insurance complaints up
29 September 2014
A total of 188 general insurance complaints were lodged with the New Zealand Insurance and Savings Ombudsman in the year to June 30, up from 167 the previous year…
Strata body warns Brisbane members over G20 terrorism cover
29 September 2014
With Brisbane on high security alert for the G20 leaders’ summit on November 15-16, strata managers in the CBD and South Bank precincts have been warned their insurance policies…
ICNZ joins government cyber project
29 September 2014
The Insurance Council of New Zealand has joined a government initiative to improve the nation’s cyber security…