More challenges for crop insurers
05 March 2012
The floods in Queensland, NSW and northern Victoria will affect the yield of some summer cereal crops…
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Insurers focus on costs and efficiencies to improve performance
05 March 2012
Insurers are targeting policy administration for efficiency gains as they try to offset low investment returns by improving their operational performance…
NZ manufacturers rate insurers poorly on business interruption
05 March 2012
A survey of manufacturers in the earthquake-stricken Canterbury region has discovered widespread dissatisfaction with business interruption coverage…
Federal Government needs to step up on flood mitigation and mapping
27 February 2012
The insurance industry needs a greater commitment from the Federal Government on flood mitigation and mapping, Insurance Council of Australia President Rob Scott told ICA’s Regulatory Update…
Insurance Council to step up communication
27 February 2012
The Insurance Council of Australia will be more active in promoting the role of insurance to politicians and the public, after acknowledging the industry’s reputation suffered during last year’s disasters…
ASIC to scrutinise insurers’ sales methods
27 February 2012
The Australian Securities and Investments Commission will be looking closely at how insurance is sold to consumers, and pressing for stronger penalties for breaches, Commissioner Peter Kell…
Strata association dismisses insurance sales claims
27 February 2012
A national body representing strata owners has dismissed claims insurers are paying property managers large secret commissions…
Unlikeable insurers still trustworthy
27 February 2012
Consumers don’t like insurance companies, but they do trust them and are satisfied with their service, according to new research…
New insurance website to help the mentally ill
27 February 2012
A new website has been launched to improve access to insurance for sufferers of mental illness…
Updated code adds new deadlines for insurers
20 February 2012
The board of the Insurance Council of Australia has approved revisions to the General Insurance Code of Practice, following the political flak it copped over claims handling during last year’s catastrophes…
Queensland strata market ‘close to failure’, says NIBA
20 February 2012
National Insurance Brokers Association CEO Dallas Booth has admitted the northern Australian strata insurance market is close to “market failure”…
Insurers differ on claims over Air Australia collapse
20 February 2012
The number of airline passengers stranded without insurance cover after the collapse of Air Australia isn’t yet known, with some travel insurers not providing financial default cover for the airline’s…
Wellington earthquake would cost $NZ37 billion
20 February 2012
Wellington residents have been told they need to focus on earthquake resilience over the next decade, with a major earthquake estimated to cost around $NZ37 billion ($29 billion)…
Business interruption cover rare in regional Australia
20 February 2012
A quarter of small businesses in rural and regional Australia would not survive a short-term closure, according to new research…
In Insurance News (the magazine):
20 February 2012
For some insurers the catastrophes of 2011 have become the disasters of 2012, with investors demonstrating their disappointment…
Floods to cost insurers ‘tens of millions’
13 February 2012
Insurers anticipate claims from flooding in Queensland and NSW will cost “tens of millions of dollars”, according to the Insurance Council of Australia…
Brokers under fire over strata business
13 February 2012
Brokers have come under fire for not looking at strata buildings they are selling policies on…
Historic strata pricing under fire
13 February 2012
Strata insurers have had to defend their claim that policies for buildings in northern Queensland were not knowingly underpriced in the past…
Reinsurers controlling north Queensland property market
13 February 2012
Reinsurance is keeping insurers out of the northern Queensland strata market, a broker claims…
Christchurch earthquakes: assessments on damaged land to start
13 February 2012
New Zealand’s Earthquake Commission and private insurers will begin technical assessments next month on 8000-10,000 Christchurch homes with foundation damage…