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…
Local
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…
ICA holds last-minute talks on key facts sheets
27 October 2014
The Insurance Council of Australia is still liaising with the Federal Government on key fact sheets, which must be provided to home and contents policyholders from November 9…
Insurers keep their cool amid Ebola crisis
27 October 2014
Despite a second Ebola scare in Queensland today, the Australian insurance industry is holding its nerve…
IAG launches ‘recovery action’ over Blue Mountains bushfire
27 October 2014
IAG will pursue recovery action on behalf of policyholders who lost their homes or suffered property damage in last year’s Blue Mountains bushfires…
Government launches travel insurance guide
27 October 2014
The Federal Government and consumer group Choice have released a guide to travel insurance that emphasises the importance of obtaining appropriate cover before heading overseas…
ICA backs smash repairers in information fight
27 October 2014
The Insurance Council of Australia has backed independent smash repairers’ right to technical information, as the issue descends into a motor industry war of words…
Canterbury quake court actions start to tail off
27 October 2014
The number of earthquake-related cases reaching New Zealand’s High Court has fallen…