Latest NZ quake claims total over $NZ1.2 million
30 January 2012
New Zealand’s Earthquake Commission has received claims of more than $NZ1.25 million ($970,000) from the October 9 Christchurch aftershock and $NZ586,000 ($453,000)…
Local
2011 catastrophe claims blow out to $4.9 billion
30 January 2012
Melbourne’s Christmas Day hailstorms have pushed the total estimated insurance cost of 2011’s natural catastrophes to $4.9 billion…
Reinsurers to cover 80% of NZ earthquake cost
30 January 2012
Global reinsurers will cover around 80% of the cost of New Zealand’s February 22 earthquake, according to research by Swiss Re…
Earthquakes royal commission seeks extension
30 January 2012
The royal commission formed to investigate building failure in the Christchurch earthquakes is asking the New Zealand Government for an extension past its April final report deadline…
Christchurch rebuild on hold while aftershocks continue
30 January 2012
Widespread reconstruction of Christchurch is “on hold” while aftershocks continue, Reserve Bank of New Zealand Governor Alan Bollard says…
Trade credit insurers foresee tougher times in 2012
12 December 2011
The business outlook is for more gloom next year, judging by reports from trade credit insurers who point to rising insolvencies here and the ongoing crisis in Europe as indicators of a tough year ahead…
ICA and NIBA have identical views on volume payments
12 December 2011
Both the major general insurance associations have called for the Federal Government to exempt brokers from a ban on accepting volume-based shelf space fees on platforms…
Survey paints changing picture of broking sector
12 December 2011
Insurance brokerages are experiencing generational change, but older principals are continuing to dominate the broking sector, according to a new report from Macquarie Relationship Banking…
Disasters push up the number of FOS disputes
12 December 2011
The Financial Ombudsman Service has received 650 disputes concerning the Queensland floods, Cyclone Yasi and the Victorian floods…
Wind farm opponents target insurance industry
12 December 2011
The insurance industry can expect claims relating to health problems from wind turbines, a wind farm lobby group is warning…
Legal pitfalls in new e-health draft legislation
12 December 2011
Doctors could face increased legal liability if they join the Federal Government’s $500 million personally controlled e-health scheme…
Earthquake Commission begins assessments outside Canterbury
12 December 2011
The New Zealand Earthquake Commission will start assessing earthquake-damaged houses outside Canterbury this month…
London market will write New Zealand risk – at a price
12 December 2011
There is appetite for New Zealand risk in London, but rates and terms are moving up very quickly, according to Lloyd’s broker Alan Rixon…
New Zealanders consider Singapore-based captives
12 December 2011
Some major New Zealand insureds are looking at setting up captive insurance companies in Singapore as their country’s stronger prudential requirements come into force…
In Insurance News (the magazine) this month
12 December 2011
The way brokers work, their attitudes, beliefs, concerns, challenges and ambitions are examined in depth in the latest edition of Insurance News (the magazine), which is being mailed out this week…
Insurers make a loss in September quarter
05 December 2011
Australia’s general insurance industry has bounced back from the disasters earlier in the year, although a $217 million loss for the sector was recorded in the September quarter…
Wilder weather the new norm
05 December 2011
Insurers must offer targeted and affordable cover to help prepare consumers for increasing and intense bouts of wild weather, according to Insurance Australia Group CEO Mike Wilkins…
SME insurance-buyers ‘wary’, Vero survey finds
05 December 2011
SME business decision-makers are wary of the insurance industry but not unhappy with their current cover, according to a new Vero survey…
Australia Post to sell travel insurance
05 December 2011
Australia Post will next year offer travel insurance at post offices, with a product underwritten by Munich Re subsidiary Great Lakes Reinsurance (UK)…
General insurance product uptake strong, says survey
05 December 2011
A survey by ANZ has found the take-up of general insurance products remains strong…