Clients seek to switch insurers and cut policies in final days of Vic FSL
18 February 2013
Victorian brokers are encountering angry clients as the state’s fire services levy on insurance phases out…
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NZ to top up ex-AMI quake fund
18 February 2013
The New Zealand Government could be up for another $NZ400 million ($328.44 million) to settle Canterbury earthquake claims it inherited when it took on the earthquake business of AMI in 2011…
Trucks getting safer, but premiums rising
18 February 2013
Australia’s roads are getting safer, with heavy vehicle crashes falling 13% in the past five years, but premiums for truck-owners are forecast to continue rising as the average claims cost increases…
Great Southern D&O test case delayed till March
11 February 2013
The Great Southern legal action that will determine whether directors’ and officers’ liability insurance can be used to fund the defence of company officers and directors has been postponed till March…
Bridgecorp appeal set to be lodged
11 February 2013
An appeal against the New Zealand High Court’s decision in the Bridgecorp directors’ and officers’ case is expected to be lodged today or tomorrow…
Insurers name dates for dropping Victorian FSL
11 February 2013
Insurers are beginning to remove the Victorian fire services levy entirely, a year after the outcry when charges of up to 95% were applied to commercial policies…
Flood figures double in a week
11 February 2013
The number of flood-related claims received by insurers has nearly doubled in the past week as a picture of the devastation wrought in central and southeast Queensland becomes clear…
Insurers trimming exposures in flood-prone Queensland
11 February 2013
Insurers have learned from the pain of previous Queensland flood events and are using reduced risk cover and higher excesses to curb their losses from the current floods, according to a leading broker…
Code review close to hardship breakthrough, but consultations fizzle
11 February 2013
The development of a new draft guideline outlining how insurers should deal with hardship cases is imminent, according to the independent reviewer of the General Insurance Code of Practice…
Marsh forecasts a competitive year ahead
11 February 2013
Rate increases in Australia will be kept to a minimum this year because of heightened competition, according to a report from the Pacific division of global broker Marsh…
NZ court rejects Christchurch council’s building rules
11 February 2013
The Insurance Council of New Zealand has successfully challenged Christchurch City Council’s bid to make building owners strengthen existing properties to 67% of new building standards, up from the current 34%…
We can’t control hazards, but get moving on exposure: ICA
11 February 2013
An increase in frequency and intensity of extreme weather events is not the main driver of increasing losses, according to the Insurance Council of Australia…
NZ Fire Service lodges appeal over composite and split-tier policies
11 February 2013
The New Zealand Fire Service Commission has lodged an appeal against a High Court decision in favour of the Insurance Brokers Association of New Zealand and Vero over composite and split-tier insurance…
Insurers poor at explaining premium jumps: Choice
11 February 2013
Consumer group Choice says insurance premiums have spiked but companies are failing to explain the reasons behind their pricing decisions…
Insurers call for register of NZ homes damaged beyond repair
11 February 2013
The Insurance Council of New Zealand has called for a register of homes that insurers have written off after the Canterbury earthquakes…
Price increases expected on all lines
04 February 2013
The insurance industry expects rate increases across all lines this year, according to the latest JP Morgan/Taylor Fry General Insurance Barometer…
Queensland counts cost of floods as blame game begins
04 February 2013
The mounting cost of the second major flood to hit Queensland in as many years has turned attention towards mitigation measures recommended but yet to be implemented, and the cost and availability of insurance…
General insurers record $3.38 billion profit for 2011/12
04 February 2013
General insurers made a combined after-tax profit of $3.38 billion in the year to June 30 last year, according to the Australian Prudential Regulation Authority…
Government-subsidised flood cover debate resurfaces
04 February 2013
A Government-backed flood insurance scheme for householders in high-risk areas is again being raised following the latest Queensland and northern NSW floods…
Insurers count cost of Tasmania, NSW bushfires
04 February 2013
Devastating bushfires across Tasmania, Victoria and parts of NSW are expected to cost insurers nearly $100 million…