Risk management takes a back seat as business battens down
12 May 2014
Aon Risk Solutions Australia CEO Lambros Lambrou says concern about the economy has heightened the risk of companies cutting back on their insurance cover…
Local
Good and bad news as El Nino looms
12 May 2014
An El Nino event could develop as early as July, potentially increasing bushfire risks in summer but reducing the chance of tropical cyclones in Queensland, according to the…
QBE, Budget Direct take Canstar car awards
12 May 2014
Budget Direct has the best value car insurance policy in four states, while QBE leads the way on claims service, according to the latest Canstar customer satisfaction ratings for car cover…
Court to hear case against S&P over Lehman Bros debt
12 May 2014
Legal action by a group of 91 councils and charities against Standard and Poor’s will proceed after the Federal Court last week rejected S&P’s objections…
Lenders’ mortgage insurers hold steady course
12 May 2014
Moody’s has maintained mid-A ratings on four lenders’ mortgage insurance providers, noting their financial strength and conservative underwriting practices…
Value of advice ‘eroded by new intermediaries’
05 May 2014
New forms of insurance intermediation and new technologies are changing the landscape for brokers and eroding the value of advice, according to AIMS GM Martin McAvenna…
Disaster funding inquiry’s scope ‘spot on’
05 May 2014
The Insurance Council of Australia has welcomed the release of terms of reference for the Productivity Commission’s inquiry into natural disaster funding…
Little bird gives CSIRO a heads-up on disasters
05 May 2014
The Commonwealth Scientific and Industrial Research Organisation has stepped up its monitoring of Twitter for early reports of earthquakes, fires, cyclones and floods…
Excesses rise as Christchurch floods again
05 May 2014
Parts of earthquake-ravaged Christchurch flooded again last week, closely following February and March floods that are expected to cost insurers $NZ25 million ($23.1 million)…
Insurance Law Service under threat as funding is cut
05 May 2014
The Insurance Law Service faces closure due to government funding cuts, Principal Solicitor Katherine Lane warns…
Men cheat more on travel insurance
05 May 2014
Men are more likely than women to inflate travel cover claims and seek payment for pre-existing damage to items, a survey for Southern Cross Travel Insurance shows…
Competition and capacity ‘on the rise in Australia’
28 April 2014
Insurance capacity is rising and competition is at an all-time high, according to Aon Australia’s first-quarter Insurance Market Update…
LMI hails five-star claims performers
28 April 2014
Lumley, AIG, Chubb and Vero are among insurers to record improvements in the latest ratings on LMI Group’s ClaimsComparison website…
Ita losses hit $8.4 million
28 April 2014
Insured losses from Cyclone Ita in north Queensland have reached about $8.4 million, according to the Insurance Council of Australia…
NZ insurers beat drum on fire levy reform
28 April 2014
New Zealand’s insurance industry continues to call for reform of the nation’s fire service levy, as the country enters election mode before the September 20 vote…
NIBA attacks One Big Switch for FNQ failure
28 April 2014
The National Insurance Brokers Association has criticised One Big Switch for wrongly raising consumer expectations in Far North Queensland…
Cyclone Ita declared a catastrophe
14 April 2014
The Insurance Council of Australia has declared Cyclone Ita a catastrophe for areas of north Queensland, meaning insurers will give priority to cyclone claims…
No easy answer to western Sydney flood risk: report
14 April 2014
Western Sydney’s Hawkesbury-Nepean Valley faces a serious, ongoing flood risk that has no simple or single solution, according to the first stage of a NSW Office of Water review…
Pet insurance complaints on the rise
14 April 2014
A study of the pet insurance sector accuses insurers of numerous exclusions, little scope to switch policies, a growing number of complaints and cases of premiums being charged for dead pets…
Taxi reforms ‘won’t solve insurance crisis’
14 April 2014
New laws to tackle unregulated taxi clubs in Victoria will not be effective, according to Taxicare Australia MD George Karas…