Landlord insurance struggles for penetration
10 December 2012
Nearly a quarter of lessors have no landlord insurance, according to a survey by research group BDRC Jones Donald…
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NZ proposes deadline on earthquake-prone buildings
10 December 2012
All earthquake-prone buildings should be strengthened or demolished within 15 years of assessment, the New Zealand Government says in an initial response to the Canterbury Earthquakes Royal Commission…
In Insurance News (the magazine) this month
10 December 2012
The December edition of Insurance News (the magazine) is hitting mailboxes this week with its popular mix of news backgrounders, interviews, technical articles and the always-popular PeopleNEWS section…
Accountants to sell general insurance
03 December 2012
New licensing legislation will allow accountants to sell general insurance products to super fund members…
Good times return for general insurers
03 December 2012
General insurers have enjoyed premium growth and a fall in claims in the September quarter, according to Australian Prudential Regulation Authority figures…
Bridgecorp appeal casts shadow over more court cases
03 December 2012
The appeal against the Bridgecorp decision in New Zealand continues to hang over other litigation, with a case involving QBE and Vero the latest to be caught up…
Code review submissions close
03 December 2012
The deadline for responses to an issues paper regarding the General Insurance Code of Practice review closed last Friday, with many submissions yet to be received…
Long-tail rates need to rise, says CGU chief
03 December 2012
Falling interest rates are pressuring insurance premiums, with CGU CEO Peter Harmer warning liability rates will need to rise at least 8% to offset a steep fall in investment yields…
Lawyers frustrated by class action delay
03 December 2012
Law firm Maurice Blackburn has criticised delays of more than a month in its class action for victims of the Kilmore East Black Saturday bushfire because of delays building a new courtroom for the case…
Zurich watches D&O market ‘very closely’ after LIBOR
03 December 2012
Directors’ and officers’ (D&O) claims may result from the LIBOR manipulation scandal, according to Zurich Australia Head of Financial Institutions Damian Lynch…
ICA joins uni to research strata damage
26 November 2012
The Insurance Council of Australia and James Cook University in Townsville have joined forces to identify factors in the design of strata title buildings that lead to unnecessary insurance losses…
QBE cuts Victoria FSL, with others expected to follow
26 November 2012
Brokers are waiting for more insurers to cut the fire services levy on Victorian policies after QBE last week announced it would reduce its rates from January 5…
FOS to increase engagement with insurance industry
26 November 2012
Chief Ombudsman Shane Tregillis says the Financial Ombudsman Service has good relationships with members and their professional associations – but it wants to do more…
Vero NZ chief calls for reform of earthquake insurance
26 November 2012
New Zealand’s earthquake insurance model is systemically flawed when exposed to a large volume of claims, Vero NZ CEO Gary Dransfield says…
Earthquake map plots risk
26 November 2012
Geoscience Australia has developed an earthquake hazard map based on a study of past events…
Mortgage notes can withstand LMI downgrades: S&P
26 November 2012
Residential mortgage-backed securities ratings would withstand any downgrade of the two lenders’ mortgage insurance players, according to a Standard & Poor’s report…
NZ quake recovery ‘remarkable’: Bartlett
26 November 2012
Despite public criticism about the speed of rebuilding after the Canterbury earthquakes, “government, industry and community have made remarkable progress in the world’s most complex and proportionally…
Vehicle thefts rise for first time in a decade
26 November 2012
The number of motor vehicles stolen in Australia has risen for the first time in 10 years, according to the National Motor Vehicle Theft Reduction Council…
Insurers behind banks in enterprise risk management
19 November 2012
Banks have the most robust enterprise risk management practices of financial services organisations, followed by general insurers, according to a survey of delegates at the Actuaries Institute ERM seminar…
Insurers hit back at Earthquake Commission
19 November 2012
Vero and the Insurance Council of New Zealand have hit back at a suggestion insurers are trying to cut Canterbury quake claims by pushing costs onto the state…