PI and D&O returns inadequate
10 September 2012
Australian insurers are earning inadequate returns from professional indemnity and directors’ and officers’ cover, according to Tim Andrews, a principal with actuarial and insurance consultant Finity…
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Judges reserve decision in Bridgecorp appeal
10 September 2012
The New Zealand Court of Appeal has reserved its decision in the Bridgecorp case concerning access to funds under directors’ and officers’ cover…
CTV building was ‘vulnerable to earthquake’
10 September 2012
Structural design decisions were the primary cause of the CTV building’s collapse in last year’s February 22 Christchurch earthquake, according to counsel assisting the Earthquakes Royal Commission…
Plan for Christchurch infrastructure rebuild
10 September 2012
The New Zealand Government and Christchurch City Council have released a five-year schedule to rebuild the city’s earthquake-damage roads and underground services…
Claims fall sharply in year to June
03 September 2012
Gross incurred claims on Australian general insurers fell 22% to $27.9 billion in the year to June as the industry rebounded from last year’s natural disasters…
Victoria abolishes fire services levy, appoints monitor
03 September 2012
The Victorian Government last week officially abolished the fire services levy (FSL) on insurance and appointed a monitor to ensure the industry passes on the savings…
Australian ownership saved top NZ insurers: Lockwood
03 September 2012
New Zealand’s leading insurers would probably have needed financial support from the Government after the Christchurch earthquakes but for the support of their Australian owners, according to…
Customers may fund SP Ausnet insurance deficit
03 September 2012
Energy company SP AusNet’s Victorian electricity customers could be forced to make up the shortfall in the company’s insurance cover for the Black Saturday bushfires following a determination…
Quakes sent NZ insurers into deficit in 2011
03 September 2012
New Zealand’s insurance industry fell into deficit last year because of Christchurch earthquake claims…
Workers’ comp market hardening: Suncorp
03 September 2012
A continued decline in bond yields and a rise in the number of claims are hardening the market for workers’ compensation insurance, Suncorp says…
Christchurch CBD to fully reopen next year
03 September 2012
Seismic tremors are abating in Christchurch and the central business district will be open by the middle of next year, NZ Earthquake Recovery Minister Gerry Brownlee says…
Insurers reap benefits of new mobile technology
03 September 2012
Insurers are getting a jump-start on claims by using mobile technology to begin the process before a claim is lodged, according to geographic information systems specialist Esri Australia…
FOS plans for complex cases
27 August 2012
The Financial Ombudsman Service is planning for more complex disputes, according to its latest three-year strategic plan…
Industry suffers from keeping policyholders at arm’s length: CGU
27 August 2012
More transparency and better relationships with customers are key to improving insurers’ reputations among the public, CGU’s GM Broker and Agent Mark Searles has told an industry conference…
Full-replacement home insurance could end in NZ
27 August 2012
Home insurance in New Zealand may move to fixed-cover policies instead of full-replacement policies, as reinsurers seek more certainty about their exposure…
$500 million-plus flood payout for BHP and partners
27 August 2012
Insurers have paid more than $500 million for flood damage and disruption at coal mines in Queensland’s Bowen Basin owned by BHP Billiton and its partners Mitsubishi and Mitsui…
Reinsurers provide cover for Christchurch
27 August 2012
Confidence is growing over the recovery of earthquake-hit Christchurch, with the New Zealand Earthquake Commission successfully obtaining reinsurance…
CTP prices must rise to offset low bond yields: Suncorp
27 August 2012
Premiums for compulsory third party motor insurance must rise for schemes to remain viable at a time when bond yields are falling, Suncorp says…
Better preparation needed following year of the cat
27 August 2012
Business owners are now more aware of how a natural disaster can affect their operations but the insurance industry can do more to help them prepare, according to panellists at an…
RACQ study finds cars stolen close to home
27 August 2012
Nearly half of all car thefts and break-ins occur in the owners’ driveways, garages or streets, an online survey by RACQ Insurance has found…