In Insurance News (the magazine) this month
15 October 2012
The relaxed atmosphere at the annual Reinsurance Rendezvous in Monte Carlo belies the serious business dealings and massive amounts of money at stake…
Local
O’Halloran’s move to Steadfast welcomed
08 October 2012
Former QBE CEO Frank O’Halloran’s appointment as the chairman of broker group Steadfast has been welcomed by the investment market and hailed by insurance leaders as a strategic masterstroke…
New standards in brokers’ code revamp
08 October 2012
The revamped Insurance Brokers’ Code of Practice contains 12 key standards, adopts new requirements on clients’ best interests and is written in a more consumer-friendly manner, according to the…
QBE wins 11th insurer of the year award
08 October 2012
QBE has won the National Insurance Brokers Association General Insurer of the Year award for the 11th consecutive year…
Premiums down, claims up for liability products
08 October 2012
General insurers wrote $2.9 billion of professional indemnity and public and product liability business in 2011, according to the Australian Prudential Regulation Authority…
ICA voices concern on new rating methodology
08 October 2012
The Insurance Council of Australia says the “unique characteristics” of the Australian market must be considered as Standard & Poor’s changes its rating methodology for insurance companies…
Earthquakes, Bridgecorp spook NZ businesses
08 October 2012
Business interruption is considered the greatest risk facing New Zealand companies, according to a survey by broker Marsh…
Industry ‘must highlight social contribution’
08 October 2012
The general insurance industry must promote its social value to attract the talented workers it needs, according to Suncorp Commercial Insurance EGM Distribution Andrew Mair…
FOS faces challenge in High Court
01 October 2012
An injured worker who received a total and permanent disability payment and was later denied access to salary continuance payments by the Financial Ombudsman Service is seeking leave to appeal…
Insurers’ profits recover, but still down: KPMG
01 October 2012
General insurers’ net profits started to rise again in the first half of this year after a slump in 2011, according to KPMG’s annual industry analysis…
ICA and NSW fire union clash on emergency services funding
01 October 2012
The Insurance Council of Australia has rejected claims that reforming the funding of emergency services in NSW will “boost the profits of big insurance companies” at the expense of families…
Top End enacts builders’ insurance
01 October 2012
The Northern Territory will have a builders’ insurance scheme granting wider protection for consumers next year, before an expected upturn in residential construction…
Government updates flood guide
01 October 2012
An updated version of the Australian Rainfall and Run-off guide will give engineers more accurate information on flood-prone regions, the Federal Government says…
Confusion reigns as report clears Seqwater engineers
01 October 2012
A new report on the operation of the Wivenhoe Dam during last year’s Brisbane floods has cleared the engineers involved, despite earlier findings by the Queensland Floods Commission of Inquiry…
NZ earthquake cases reach court
01 October 2012
Legal actions over insurance claims resulting from the Canterbury earthquakes are starting to reach New Zealand courts…
Flood insurance coverage rises to new height
24 September 2012
Flood insurance take-up has risen dramatically, with 78.1% of homes across the country now covered, according to the Insurance Council of Australia…
Grafton to take reins at ICNZ
24 September 2012
Tim Grafton is to take over as CEO of the Insurance Council of New Zealand…
Ruling on Lehman Bros clears way for compensation
24 September 2012
Three local councils have won a legal battle against Lehman Brothers over investment losses during the global financial crisis, paving the way for a multimillion-dollar compensation payment…
FOS sets record for closing disputes
24 September 2012
The Financial Ombudsman Service closed 9785 disputes in the April-June quarter – setting a new record for any three-month period…
Insurers deny overcharging on Victorian FSL
24 September 2012
The insurance industry has rejected accusations of overcharging during the final months of the Victorian fire service levy…