WA commission to take slice of Bell settlement
23 September 2013
The Insurance Commission of WA will share in a multibillion-dollar payout after the settlement of long-running litigation over the collapse of Alan Bond’s Bell Group…
Local
Join with brokers to fight online platforms, underwriters told
16 September 2013
Underwriters can help counter the threat from online insurance platforms by cultivating stronger relationships with brokers, the Australian Professional Indemnity Group’s recent national conference…
Shopping online becomes the mainstream choice
16 September 2013
A growing number of consumers consider the internet an essential tool for selecting insurance, according to a study by Roy Morgan Research…
Real-time GIS ‘will transform industry’
16 September 2013
Insurers could achieve huge business benefits by using real-time geographic information systems, an industry expert says…
Bogus NZ insurer has criminal links
16 September 2013
A New Zealand-based general insurer that was banned last week by the UK Financial Conduct Authority has been linked to activities including international fraud scams and money-laundering…
Fire experts forecast increased risk
16 September 2013
Large parts of southern Australia face above-average fire risk this season, according to the Bushfire Co-operative Research Centre…
NZ storm costs reach $40 million
16 September 2013
Storms that flooded parts of New Zealand’s Nelson and Bay of Plenty regions in April led to insured damage of $NZ46.2 million ($40 million), according to the Insurance Council of New Zealand…
Cook Strait quakes pass 9000 claims
16 September 2013
New Zealand’s Earthquake Commission has now received 9121 claims relating to the recent Cook Strait tremors…
Intermediaries’ half-year premium tops $8.5 billion
09 September 2013
Brokers and other general insurance intermediaries invoiced $8.5 billion in premium in the six months to June 30, up 6.5% on the first half of last year…
FOS review seeks submissions
09 September 2013
The Financial Ombudsman Service has engaged governance advisory group Cameron Ralph/Navigator to conduct an independent review of the organisation…
ICA hits back at ‘excessive’ premium stories
09 September 2013
The Insurance Council of Australia has rejected “inaccurate” media reports about excessive home contents premium rises, arguing claims have spiralled in recent years…
Researchers call for new bushfire risk strategy
09 September 2013
A study into the Black Saturday bushfires has revealed a need to rethink risk strategies…
EQC sends all over-cap Christchurch claims to insurers
09 September 2013
New Zealand’s Earthquake Commission has passed on all quake claims that exceed its $NZ100,000 ($86,000) cap to private insurers…
Herbert to face NZ court next year
09 September 2013
The founder of Herbert Insurance will face court next August over the New Zealand brokerage’s collapse in 2011…
Queensland mitigation benefits ‘will take time’
02 September 2013
Allianz has warned against “unrealistic expectations” after the Queensland Government pledged $50 million for flood mitigation work…
Insurance CROs lack seniority, Deloitte says
02 September 2013
Chief risk officers in the insurance industry typically hold less senior positions than in other financial services sectors, a global survey by Deloitte has found…
Industry profits reach $5.2 billion
02 September 2013
The insurance industry recorded a net profit of $5.2 billion in the year to June 30, up from $3.7 billion the previous year, the Australian Prudential Regulation Authority says…
Give insurers lead role in NZ quake claims: Vero
02 September 2013
Vero wants private insurers to take the lead handling some claims involving New Zealand’s Earthquake Commission, to simplify the process following natural disasters…
Hollard CRO warns of technology threat
02 September 2013
Technology risks are a major concern for the industry, according to Hollard Chief Risk Officer David Hall…
Insolvencies high, but weaker dollar tipped to help
02 September 2013
Australian insolvency rates remain stubbornly high, but a further drop in the dollar’s value should help sectors such as tourism, according to trade credit insurer Atradius…