Buyer beware, says The Warranty Group
16 July 2012
The range of corporate structures in the warranty industry means that some providers can operate without an Australian financial services licence and some of them are tarnishing the industry, says…
Local
Call to inspect buildings in cyclone path
16 July 2012
Housing in cyclone-prone areas should be inspected before the cyclone season so owners can strengthen their properties, James Cook University’s Cyclone Testing Station has recommended…
S&P to change rating methodology for insurers
16 July 2012
Ratings agency Standard & Poor’s plans to change the methodology it uses to rate insurance companies…
ICA backs report against compensation fund
16 July 2012
The Insurance Council of Australia supports a recommendation against establishing a last-resort compensation scheme for financial services consumers…
Ombudsman close to a result on flood claims
16 July 2012
General Insurance Ombudsman John Price expects to resolve quickly about 80 outstanding claims against insurers resulting from the January 2011 Victorian floods…
Quake commercial claims payout passes $NZ3 billion
16 July 2012
Insurers have now paid almost half of the commercial claims from the Canterbury earthquakes…
Share credit reporting information: ICA
16 July 2012
Lenders’ mortgage insurers should be allowed to access credit reporting information from other credit providers, even if they have little information to offer, the Insurance Council of Australia says…
Earthquake preparation helped earlier recovery
16 July 2012
Essential services agencies’ disaster planning reduced damage to their assets and improved the emergency response in the devastating earthquakes of 2010 and 2011, according to a report commissioned…
Online tool makes car theft data easier
16 July 2012
A new online mapping tool is making it easier for insurers to quickly obtain motor vehicle theft statistics for all local government areas across the country…
NSW takes first step to reform emergency services funding
09 July 2012
The NSW Government has announced reform of its emergency services levy system as it moves towards dropping taxes on insurance policies in favour of a property-based levy…
Shorten’s plan stumbles on a lack of willing brokers
09 July 2012
Many brokers are not geared up to handle personal lines business should recent measures announced by Financial Services Minister Bill Shorten aimed at making flood insurance simpler result in an influx…
ICA calls for disaster mitigation funding
09 July 2012
Much of the infrastructure replaced after the 2011 Queensland and Victorian floods has not been improved and will fail again during future floods of a similar magnitude, according to the Insurance Council…
‘No win, no pay’ flood class action looming
09 July 2012
Law firm Maurice Blackburn has confirmed it is close to filing for a class action lawsuit against Queensland Government-owned utility Seqwater for the mismanagement of the Wivenhoe Dam…
No quick fix for theft and scrapping of older vehicles
09 July 2012
Good commercial relationships between insurers, repairers and recyclers are necessary to address vehicle theft issues, particularly that of older cars being stolen for their scrap value…
Few claims from latest NZ earthquake
09 July 2012
New Zealand’s Earthquake Commission has received about 270 claims from the magnitude-7 earthquake felt across the country last week…
Commercial renewals show few signs of market hardening, say brokers
02 July 2012
Rates on commercial insurance renewals at the end of the financial year can be best described as “patchy”, brokers say…
Government announces flood cover initiatives
02 July 2012
The Federal Government has revealed more measures aimed at making flood insurance simpler and more effective following last year’s floods…
New report on strata pricing recommended
02 July 2012
The Australian Government Actuary will undertake “a rigorous quantitative investigation” of the causes of premium increases in the north Queensland strata market, with a final report due by…
Queensland funds Roma flood study
02 July 2012
The Queensland Government has committed $100,000 to complete engineering work for flood mitigation plans in Roma…
Swiss Re quantifies catastrophe impact on pricing
02 July 2012
Swiss Re has revealed the impact of the recent natural catastrophes on insurance pricing in Australia and New Zealand…