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…
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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…
EQC takes almost 8000 Cook Strait claims
02 September 2013
New Zealand’s Earthquake Commission has received 7899 claims relating to last month’s Cook Strait tremors…
Claims Comparison website launches with first awards
26 August 2013
A new claims comparison website that measures insurers’ claims performance has been launched this morning with the naming of its first four winners…
Banks and health funds drive growth of cyber crime cover
26 August 2013
The cyber risk insurance market is growing steadily, with financial institutions such as health funds and smaller banks among the first adopters, according to Zurich Head of Financial Institutions Asia-Pacific Damian Lynch…
Insurers fail to meet rogue-trader risk: Zurich
26 August 2013
Rogue traders such as Nick Leeson pose a major threat to financial institutions but insurers struggle to offer adequate cover for such cases, according to Zurich Head of Financial Institutions Asia-Pacific Damian Lynch…
China slowdown ‘would hurt LMIs’
26 August 2013
A hard landing for China’s economy would spark sharp losses for Australia’s lenders’ mortgage insurers, Standard & Poor’s warns…
Cook Strait quake claims continue rising
26 August 2013
New Zealand’s Earthquake Commission says it has received 6626 claims relating to the recent Cook Strait tremors…
Banksia auditor told to produce PI document
26 August 2013
A failed finance company’s auditor must show a copy of his professional indemnity policy to a receiver, after a court ruled it was relevant to the company’s affairs…
Premiums to grow 3% a year: Swiss Re
19 August 2013
Australian premium volume is likely to grow an average 3% a year for the next decade, slightly above overall economic growth, according to Swiss Re Chief Economist Kurt Karl…
Respond to changing customer needs, says Suncorp
19 August 2013
Clients must be placed at the core of everything from underwriting to claims experience, according to a report on the future for the commercial insurance industry…
Pratten appeals against fraud conviction
19 August 2013
Former insurer and insurance broker Charles Pratten has appealed against his conviction for defrauding the Commonwealth…
Flood prevention drives down Charleville premiums
19 August 2013
Home and contents premiums are dropping in flood-prone Charleville after the completion of mitigation projects including a levee bank and diversion works…
Allianz considers appeal over Brisbane flood decision
19 August 2013
Allianz may appeal against the Queensland Supreme Court’s ruling that it must pay a disputed claim from a business inundated by the 2011 Brisbane floods…
James Hardie asbestos claims ‘exceeding expectations’
19 August 2013
The number of mesothelioma claims being reported remains high two years after the expected peak period, building products manufacturer James Hardie says…
Australian theft rates decline
19 August 2013
National robbery and theft rates have dropped sharply since 2001, the NSW Bureau of Crime Statistics and Research says…