Insurers working on WA storm claims
18 June 2012
Storms in WA last week have generated 15,500 claims to date, although the Insurance Council of Australia is not yet able to put a financial figure on the cost to insurers…
Local
ICA building products rating tool gets green light
18 June 2012
A building materials resilience rating tool being developed by the Insurance Council of Australia is on track to go live to the public around this time next year after its rating methodology…
Software may help NZ insurers’ risk predictions
18 June 2012
New Zealand scientists are working on software to help insurers better predict property damage, business interruption and casualty losses in the event of future earthquakes…
Car theft rate still climbing
18 June 2012
Vehicle thefts in Australia continued to rise in the first quarter of this year, with the numbers up 8% on the December 2011 quarter, according to the latest statistics from the National Motor Vehicle…
In Insurance News (the magazine) this month
18 June 2012
IAG CEO Mike Wilkins opens up about opportunities and expansion in an exclusive interview in this month’s edition of Insurance News (the magazine), which is being mailed out this week…
NSW moves to dump fire services levy
12 June 2012
NSW Treasurer Mike Baird has announced a review of the state’s fire and emergency services funding that is expected to result in the abolition of the contentious fire services levy…
Vic fire levy last year raises risk for premium funders
12 June 2012
The Victorian Government’s decision not to phase out the fire services levy through a graduated process is alarming premium funders, who see their risk increasing if policyholders cancel policies early…
Suncorp still refusing new business in Emerald
12 June 2012
Suncorp is still refusing to write new business in the flood-affected Queensland town of Emerald despite joining a council tour of flood mitigation work in the town…
Roma tries to woo insurers with levee plans
12 June 2012
Representatives from the Maranoa Regional Council, the local government authority for the Queensland town of Roma, met with insurers last week in a bid to improve the availability and affordability…
European upheaval weighs on reinsurers
12 June 2012
Europe’s financial upheavals are forcing reinsurers to be more cautious in providing capacity as the June renewals progress, according to a senior reinsurance executive…
Winter weather spares insurers
12 June 2012
The wild weather that lashed parts of NSW and Victoria last week will not be declared a catastrophe, a spokesman for the Insurance Council of Australia told insuranceNEWS.com.au…
Perpetual reviewing HIH decision
12 June 2012
Investment company Perpetual Trustees is still considering whether to appeal against a NSW Supreme Court decision last week to dismiss a claim by HIH Holdings for the repayment of New Zealand…
Car thefts and break-ins rise
12 June 2012
Car thefts and break-ins rose slightly last year, Australian Bureau of Statistics figures show…
Modest claims expected from NZ snowstorms
12 June 2012
Snowstorms in New Zealand last week cut power to thousands of homes and caused cancellations to flights in and out of Christchurch…
Victorians ‘reducing cover because of FSL’
04 June 2012
Victorian brokers are reporting commercial clients reducing their insurance as a result of the higher fire services levy charge…
Online note helps explain FSL issue
04 June 2012
A briefing note explaining the fire services levy issue in Victoria and providing tables to calculate likely impacts on premiums is now available online…
$96 million boost for NSW SES – but what about the insurance levy?
04 June 2012
The NSW Government’s decision to allocate $96 million for the State Emergency Service in the upcoming Budget doesn’t necessarily mean the SES levy on insurance premiums will be dropped…
General insurers bounce back
04 June 2012
General insurers have recorded much stronger net profits for the March quarter compared to the corresponding quarter last year…
ICA to tackle organised insurance fraud
04 June 2012
The Insurance Council of Australia’s Insurance Fraud Bureau is set to move to the next stage of its development with a plan to tackle organised insurance fraud…
Choice calls for more government action on mitigation
04 June 2012
Consumer watchdog Choice has called on local, state and federal governments to do more to improve planning and infrastructure in the face of rising home and contents premiums…