Queensland floods blow the Budget
05 December 2011
Last summer’s Queensland floods have added to the Federal Government’s financial woes and made the chances of staying on course for a surplus much harder…
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Christchurch earthquakes: Earlier shakes did not weaken major buildings
05 December 2011
The Christchurch earthquakes on September 4 and Boxing Day 2010 did not significantly weaken the resistance of three buildings that failed in the February 22 quake, an expert report has found…
NZ launches stolen cars database
05 December 2011
The New Zealand Police Department has launched a database providing a list of all stolen vehicles for the past six months…
House of Reps inquiry extended to probe strata title insurance
28 November 2011
The House of Representatives inquiry into the insurance response to disasters has been extended to cover residential strata title insurance and will hold public hearings in northern Queensland…
Bligh wants insurers to adopt flood definition now
28 November 2011
Queensland Premier Anna Bligh has called on insurers to adopt the proposed standard flood definitions before it becomes law…
ICA declares Margaret River fires an insurance catastrophe
28 November 2011
The Insurance Council of Australia has declared the Margaret River bushfires in Western Australia an insurance catastrophe event…
Comparator sites ‘will not kill off brokers’
28 November 2011
There will always be a role for brokers despite the growth of comparator sites in Australia, according to Ebix Australia MD Leon d’Apice…
Joyriding car theft on the decline
28 November 2011
Motor vehicle theft has fallen by a staggering 60% in the past 10 years as technology and socio-economic changes have cut the allure of joyriding and car laundering…
Residents demand independent advocate
28 November 2011
Desperate property-owners in earthquake-ravaged Christchurch are calling for an independent advocate to help them deal with insurance companies and the Earthquake Commission…
Board announced for Sydney’s international finance and regulation centre
28 November 2011
Sydney’s goal of becoming Australia’s financial hub was boosted last week with a forum held at the new Centre for International Finance and Regulation to announce the centre’s board…
Moody’s to update rating process
28 November 2011
Moody’s has produced a paper on how it will update its global rating methodology of insurance brokers and service companies…
Flood cover review chief sees cost as next big issue
21 November 2011
Affordability is the major issue facing flood insurance following the Federal Government’s swift response to the Natural Disaster Insurance Review report, the review’s chairman says…
Christchurch rebuild: Community engagement important
21 November 2011
Insurers are an important part of the rebuild of Christchurch and need to communicate what they are doing so the public can understand the process, an Insurance Council of New Zealand seminar…
Cyclone clusters can affect insurance risk
21 November 2011
Cyclones occur in clusters rather than randomly, according to new research that has implications for the insurance industry…
Insurers won’t quit NZ, says local Vero chief
21 November 2011
Fears about a withdrawal of major insurers and reinsurers from the New Zealand market are misplaced, according to Vero NZ CEO Gary Dransfield…
AM Best predicts industry consolidation for NZ
21 November 2011
Industry consolidation in New Zealand is likely because there are too many insurers for the size of the market, says AM Best…
EQC expects $NZ7 billion in claims above reinsurance
21 November 2011
New Zealand’s Earthquake Commission expects to incur a direct loss of $NZ7 billion ($5.3 billion) from the Christchurch earthquakes…
Inconsistent flood maps ‘prevents insurers from writing flood risk’
14 November 2011
Flood maps can be unreliable, of varying quality or not detailed enough, Actuaries Institute representative Peter McCarthy has told the parliamentary inquiry into the insurance response to…
Canterbury earthquake claims bill rises to $NZ30 billion
14 November 2011
The Reserve Bank of New Zealand has estimated the cost of property-related insurance claims from the Canterbury earthquakes at $NZ30 billion ($23 billion) in a detailed calculation…
Insurers urged to look at boosting equities exposures
14 November 2011
Investment officers in insurance companies have been urged to increase exposure to equities to deliver better returns for shareholders…