Best and worst show up in tough market: McAvenna
23 April 2012
The present insurance market involves the “best and worst of times” for brokers, insurers and customers, delegates at the A&I Member Services Convention in Auckland were told yesterday…
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Budget, AAMI win car awards
23 April 2012
Financial researcher Canstar has singled out Budget Direct and AAMI for outstanding value in car insurance. This is the third year in a row that both insurers have been named in this…
Christchurch quake: Insurers face consumer backlash
23 April 2012
New Zealand insurers are under fire for offering customers payments to repair homes in the Christchurch red zone, where land is deemed unsuitable for residential living…
Christchurch redevelopment blueprint within 100 days
23 April 2012
The New Zealand Government has given a new planning unit 100 days to come up with a redevelopment blueprint for central Christchurch…
Victorian Government launches bushfire lawsuit
23 April 2012
The Victorian Government has issued a writ against the electricity company responsible for the power line that caused the Kilmore-Kinglake bushfire on Black Saturday…
Mortgage insurance market conditions ‘stable’
23 April 2012
Ratings agency Standard & Poor’s forecasts a stable outlook for the Australian lenders’ mortgage insurance market this year, despite a major local player reporting an “elevated loss…
Businesses urged to rethink risk strategies
16 April 2012
Organisations need to re-examine their risk management strategies and introduce new ways to strengthen their operational and financial resilience after last year’s catastrophes, says major broker Marsh…
Distribution is still an industry problem: JLT
16 April 2012
Product distribution remains a “thorn in the side” for many parts of the insurance sector, says JLT Australia in an industry review…
Broker’s deception trial begins
16 April 2012
The NSW Supreme Court has begun hearing a criminal case against Rural & General Insurance Brokers founder and MD Charles Pratten, who faces seven charges of obtaining a financial advantage by deception…
Uncertainty rules in tight NZ market
16 April 2012
Obtaining full earthquake insurance in the medium to long term in New Zealand is still uncertain and clients are feeling the impact of increased premiums, according to global broker Marsh…
Australian insurance sector continues expansion trend
16 April 2012
The finance and insurance industries were the star performers of the Australian services sector last month, according to the latest Australian Industry Group/Commonwealth Bank Australian Performance…
Dodgy building inspectors could spark claims
16 April 2012
The latest allegations about Victorian surveyors using unregistered building inspectors is unlikely to have major implications for warranty insurance policies, according to a commercial litigation…
In Insurance News (the magazine) this month
16 April 2012
The General Insurance Code of Practice was extensively revised after the 2003 Canberra bushfires, but not enough, say the critics…
Drier conditions expected as La Nina recedes
02 April 2012
The La Nina weather pattern responsible for much of the increased rainfall in eastern Australia over the past two years is over, according to the Bureau of Meteorology…
APRA reports broker statistics
02 April 2012
Some 56% of licensed general insurance brokers placed business directly with underwriters during the six months ending December 31…
Farmers call for boycott of WFI
02 April 2012
Wesfarmers-owned WFI is facing a rural boycott as farmers continue their campaign against Coles supermarkets’ milk-pricing moves…
ICNZ to lobby government on affordability
02 April 2012
The Insurance Council of New Zealand will raise the issue of affordability with the Government amid growing concern that the trebling of the earthquake levy and any increase in fire service taxes…
Disasters bring supply chain risks into focus
02 April 2012
Aon is reporting an upswing in demand for business interruption covers and business continuity planning as a result of the recent string of disaster events…
NZ insurers expect to pay $NZ20 billion
02 April 2012
New Zealand insurers expect to pay out more than $NZ5 billion ($3.9 billion) in earthquake claims this year and more than $NZ15 billion ($11.7 billion) next year…
Earthquake Commission payments top $NZ3 billion
02 April 2012
New Zealand’s Earthquake Commission has made payments of more than $NZ3 billion ($2.4 billion) for Canterbury earthquake damage…