Reinsurers, insurers join Wivenhoe class action
14 July 2014
Insurers have joined a class action that is seeking hundreds of millions of dollars for more than 4000 victims of the January 2011 Brisbane floods…
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Insurers losing digital race: PWC
14 July 2014
General insurers are taking too long to develop products and communication methods suited to the digital world, and risk having their markets eroded by tech-savvy new entrants…
NZ storm losses hit $72 million in first half
14 July 2014
Insured storm damage in New Zealand totalled $NZ76.9 million ($72 million) in the first half of this year, according to the Insurance Council of New Zealand…
FOS looks to widen its scope
14 July 2014
The Financial Ombudsman Service wants to restore its oversight of small business insurance broking disputes…
Prices drop on NZ corporate property
14 July 2014
A softer global reinsurance market and owners’ efforts to mitigate earthquake risk have led to rate reductions for corporate property, according to Marsh New Zealand…
Medical indemnity claims stable
14 July 2014
Medical indemnity claims against private health sector providers were steady in 2012/13, while public sector claims dropped significantly…
EQC passes contents claim milestone
14 July 2014
New Zealand’s Earthquake Commission has paid out more than $NZ500 million ($468.42 million) in contents claims arising from the Canterbury earthquakes…
Fels turns fire on insurers
07 July 2014
Victorian Fire Services Levy Monitor Allan Fels has launched a stinging attack on the insurance industry, urging it to become more competitive and transparent…
Queensland continues to snub car theft program
07 July 2014
Queensland is set to reject a request from the National Motor Vehicle Theft Reduction Council to resume funding the body, insuranceNEWS.com.au can reveal…
ICA unveils revised code
07 July 2014
A new independent committee can audit and publicly name non-compliant insurers under the revised General Insurance Code of Practice, launched last week…
LMI to expand ClaimsComparison
07 July 2014
LMI Group is to expand its website comparing insurers’ claims services, adding more than 20 classes including business interruption, directors’ and officers’, industrial special…
Tax advice PI requirements ‘won’t hit insurers’
07 July 2014
A Tax Practitioners Board rule that advisers giving tax advice need at least $2 million of professional indemnity cover for any one claim is expected to have little impact on insurers…
Australian insurers outperform peers
07 July 2014
Premium growth in Australia outstripped major insurance markets during and after the global financial crisis, a new report shows…
Homeowners confident on sum-insured cover: ICNZ
07 July 2014
New Zealand homeowners have a strong understanding of sum-insured policies after education campaigns on the switch from replacement cover, a survey shows…
Leave insurance to the insurers, ICA says
30 June 2014
The Insurance Council of Australia has called for an end to state and territory governments’ underwriting of statutory insurance such as workers’ compensation…
Insurers join race to write SA CTP
30 June 2014
Suncorp and Allianz have declared their interest in entering SA’s compulsory third party motor vehicle market, which is to be opened to private insurers…
High Court sides with Vero on Antarctic oil spill
30 June 2014
The Federal Government will have to pay the costs of an oil spill in Antarctica after the High Court refused to allow an appeal against a decision favouring Vero…
Liability and PI premiums decline
30 June 2014
Insurers wrote $3.04 billion of professional indemnity and public and product liability premiums last year, down 3.8% on 2012…
Suncorp calls on public sector to write no-fault cover
30 June 2014
Suncorp has called on states to introduce government-underwritten no-fault catastrophic injury schemes…
ICA to unveil new code
30 June 2014
The Insurance Council of Australia will launch its revised General Insurance Code of Practice tomorrow, which will take effect from July 1 next year…