Government rejects compulsory flood cover and subsidies
18 March 2013
The Federal Government has decided against making flood cover compulsory in all home and contents policies, and ruled out subsidies for policyholders in high-risk flood zones…
Local
Brokers losing women, younger business owners: Vero
18 March 2013
SME businesses owned by people aged under 40 are less likely to use insurance brokers, new research shows…
Adjusters want insurers’ code to recognise their skills
18 March 2013
The Australasian Institute of Chartered Loss Adjusters has launched a fresh bid to have the profession fully recognised in the General Insurance Code of Practice, so adjusters can be differentiated…
CFA could be liable over fire app faults, expert warns
18 March 2013
Victoria’s Country Fire Authority may be liable if its controversial fire warning app leads to a blaze being missed, an insurance expert claims…
FOS appoints four new ombudsmen
18 March 2013
The Financial Ombudsman Service has appointed four new ombudsmen, including one who will focus on general insurance matters and another who will concentrate on life insurance…
Prepare for tech changes: Allianz
18 March 2013
Technological advances in the insurance industry are likely to happen faster than expected, according to Allianz Australia CIO Steve Coles…
EQC land assessments under way
18 March 2013
New Zealand’s Earthquake Commission has begun assessing flat land damage claims from the Canterbury earthquakes…
Study finds Queensland homes underinsured
18 March 2013
Many Queensland homes have too little or no cover, according to new research by RACQ Insurance…
Intermediaries place more business abroad
11 March 2013
Insurance brokers and other intermediaries placed $9.27 billion of business with insurers in the six months to December 31, up 4% on the previous corresponding period, while foreign insurers and Lloyd’s…
‘Angry summer’ made worse by climate change: report
11 March 2013
Australia’s scorching summer has broken 123 weather-related records, according to a Climate Commission report that links the extreme conditions to climate change…
FSL Monitor sends ‘please explain’ to 82 insurers
11 March 2013
Victoria’s Fire Services Levy Monitor Allan Fels has issued notices to 82 insurers formally requesting information about how they set the levy in the lead-up to its abolition on June 30…
Queensland shuns call for compulsory flood cover
11 March 2013
The Queensland Government has confirmed it has no immediate plans to examine a compulsory flood cover scheme…
Cyber risks awareness too low, says Allianz
11 March 2013
Awareness of cyber risks posed by criminals or internal IT negligence is alarmingly low among Australian businesses, according to new research by Allianz…
Truck maintenance a concern: NTI
11 March 2013
Heavy vehicle owners may be neglecting truck maintenance, according to National Transport Insurance…
NZ opposition wants an insurance commissioner
11 March 2013
The New Zealand Opposition has called for the establishment of an independent insurance commissioner to put in place a dispute resolution mechanism for Canterbury residents…
Vehicle thefts continue to rise
11 March 2013
The total number of vehicle thefts rose by 10% in the December 2012 quarter, the latest figures from the National Motor Vehicle Theft Reduction Council show…
Government opts for mitigation
04 March 2013
The Federal Government appears to have closed the door on the idea of discounted insurance premiums for policyholders in high-risk flood zones, instead opting to tackle the flood affordability issue…
Brokers ‘can influence emergence’ of commercial comparators
04 March 2013
Comparator models for commercial lines pose a risk to the intrinsic value brokers give clients, according to QBE GM Australian Intermediaries Shaun Standfield…
New evidence emerges over Black Saturday bushfire
04 March 2013
Questions have been raised about the cause of the Kilmore East bushfire on the eve of a $1 billion class action…
Industry’s combined ratio returns to the black
04 March 2013
The insurance industry reported a net combined ratio of 90% last year, and its total profit rose 81% to $5.45 billion as insurers recovered from 2011’s natural disasters…