Intermediated premium levels rise
10 March 2014
Premiums invoiced by intermediated general insurance businesses grew to $9.85 billion in the past six months, according to the Australian Prudential Regulation Authority…
Local
Brokers ‘shrinking their own market’
10 March 2014
Brokers need to switch from being transaction-driven to advice-driven, according to CGU CEO Peter Harmer…
Munich Re uses cat bond for Australian cyclone risks
10 March 2014
Munich Re has again used the capital markets to acquire coverage for Australian cyclone and US hurricane risks with a total volume of $US100 million…
Global groups seek insurance data for analytics
10 March 2014
Multinational companies want greater data transparency in their insurance programs, according to Zurich Global Corporate Head of International Program Distribution Petra Riga…
FOS appoints new consumer director
10 March 2014
The Financial Ombudsman Service has appointed Elissa Freeman as a director representing consumer interests…
Christchurch floods trigger mitigation pledge
10 March 2014
Christchurch City Council has announced fast-track mitigation work following a one-in-100-year storm that caused severe flooding in the city…
Tide turning on direct insurance
03 March 2014
Many small business owners who buy cover online will consider using a broker, this year’s Vero SME Insurance Index has found…
GI underwriting earnings rise
03 March 2014
General insurance underwriting earnings grew last year as increased premium revenue more than offset claims, according to the Australian Prudential Regulation Authority…
Steadfast interface costly and complex, says Ebix
03 March 2014
The ongoing maintenance of an interface between Ebix Australia’s broker systems and the Steadfast Virtual Underwriter transaction platform is a high-cost item…
General insurers pay high price for complaints
03 March 2014
Customer dissatisfaction costs general insurers and other businesses at least $720 per negative experience, according to an Ernst & Young report on complaints…
NZ court rejects dishonest broker’s appeal
03 March 2014
New Zealand’s Supreme Court has dismissed an appeal by a broker who misled clients before they lost their house in the Christchurch earthquakes…
Vehicle theft falls further
03 March 2014
The steep decline in vehicle thefts continued last year, with 14% fewer passenger cars stolen and 10% fewer light commercial vehicles taken…
Canterbury claim settlements ‘on schedule’
03 March 2014
More than 40% of over-cap residential claims arising from the Canterbury earthquakes have been completed or fully settled, the Insurance Council of New Zealand says…
NZ building code case heads to Supreme Court
03 March 2014
Insurers’ victory against Christchurch City Council over the imposition of stricter building-strengthening rules is to be tested in New Zealand’s highest court…
Rates slow but pricing remains ‘rational’
24 February 2014
Rate rises are slowing but insurers have not started “irrational pricing”, according to IAG MD Mike Wilkins…
ICA commissions strata inspection scheme
24 February 2014
The Insurance Council of Australia has tasked James Cook University with designing an engineering inspection scheme for strata title properties in north Queensland…
Canterbury quake bill rises as claims settle
24 February 2014
The end is in sight for insurers settling claims from the Canterbury earthquakes, but their costs from the events are also rising…
Year ahead to bring ‘growth through digital channels’
24 February 2014
The Australian insurance industry will return to a focus on new business growth this year, according to consultants Capgemini Australia…
Defence insurer takes Roy Morgan award
24 February 2014
Defence Service Homes Insurance was named general insurer of the year at the Roy Morgan Research Customer Satisfaction Awards in Melbourne last week…
Competition drives 10% premium cut: Marsh
17 February 2014
Premium rates for Australian corporate buyers fell by an average of 10% in the fourth quarter of last year as new capital flowing into reinsurance markets fuelled competition, according to Marsh…