Summer catastrophes approach $1 billion mark
04 March 2013
Total insured losses from this summer’s catastrophes have risen to $942.1 million, according to the Insurance Council of Australia…
Local
Customers should consider changing insurer: FSL Monitor
04 March 2013
Consumers who fear high charges in the final months of Victoria’s fire services levy should compare insurers’ quotes and consider switching, the state’s FSL Monitor says…
NZ disaster insurance ‘needs clarity, consistency’
04 March 2013
New Zealand’s natural disaster insurance model is flawed because it requires the Government and insurers to continually fund and resource operations designed for rare events, according to Vero NZ CEO Gary Dransfield…
Sports drugs inquiry raises risk management concerns
04 March 2013
Sporting code executives are reviewing their risk management procedures after the Australian Crime Commission revealed illicit drug-taking is widespread in some professional competitions…
NZ rate rises begin to ease
04 March 2013
New Zealand rates are starting to stabilise and large clients with good risk profiles are seeing premium reductions…
Farmers must carry acid risk
04 March 2013
Farmers and oyster growers who suffer damage from acidic water that has flowed from flooded swamps into the Manning River in northern NSW are unlikely to receive insurance payouts…
Shop around, Choice says
04 March 2013
Motorists are lazy and tend not to shop around for the cheapest car insurance, according to consumer group Choice…
NSW vows to act on Australia’s biggest flood risk
25 February 2013
Flood mitigation for the at-risk Hawkesbury-Nepean region of western Sydney is finally at the top of the political agenda, with the NSW Government and the Federal Opposition vowing to take action…
Experts advise insured Bundaberg flood victims
25 February 2013
Insurers “appear slower to respond” to claims from the Bundaberg floods than they were after the Brisbane catastrophe of 2011, according to Legal Aid Queensland civil justice lawyer Paul Holmes…
Suncorp and IAG earn analysts’ nod
25 February 2013
Analysts poring over profit announcements from Australia’s two leading local insurers have found cause for optimism, with most displaying new enthusiasm for Suncorp…
Small business premium funding decision delayed
25 February 2013
Premium funders and the National Insurance Brokers Association will continue to resist moves to extend consumer credit laws to small business, after the Federal Government deferred its decision on the matter…
Insurers’ quake payouts top $NZ6.7 billion
25 February 2013
Insurers have paid more than $NZ6.7 billion ($5.4 billion) on Canterbury earthquake claims, with the task of apportioning damage between the Earthquake Commission (EQC) and private insurers due to be…
Brands matter less with online travel cover
25 February 2013
An easily navigable website showing clear terms and conditions is the key to selling travel insurance, according to research by Global Reviews…
Quake commission must cover boarding houses
25 February 2013
Boarding houses are residential buildings and should be covered by the state-owned Earthquake Commission, New Zealand’s High Court has ruled…
NZ marine losses top $115m over six years
25 February 2013
New Zealand marine insurers paid $NZ140.57 million ($115.1 million) on major claims from 2005 to 2011, including $NZ17.7 million ($14.5 million) for cargo losses from the September 2010 Christchurch…
In Insurance News (the magazine) this month
25 February 2013
The Insurance Council of Australia has refocused since the disastrous days of the Brisbane floods, according to new President Mark Milliner…
Code overhaul to move compliance committee ‘front and centre’
18 February 2013
The review of the General Insurance Code of Practice could result in an enhanced role for the Code Compliance Committee, independent reviewer Ian Enright has revealed…
All eyes on Great Southern D&O case as Bridgecorp seeks to appeal
18 February 2013
Entitlement to directors’ and officers’ liability policy proceeds will next be tested in the Great Southern action in the NSW Court of Appeal, with the Bridgecorp case in New Zealand now headed…
Catastrophe claims figures revised
18 February 2013
The Insurance Council of Australia has revised its claims figures on flood and storm damage in Queensland and NSW, and the Tasmanian bushfire…
Most Christchurch red zone offers accepted
18 February 2013
About 6500 property-owners have accepted the New Zealand Government’s buyout offer, out of 7207 offers…