Australian and NZ premiums report modest growth: Swiss Re
11 July 2011
General insurance premiums in Australia and New Zealand rose by 2% to $US42 billion ($39 billion) in 2010, according to a new report by Swiss Re…
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Centro case a wake-up call for D&O insurers
11 July 2011
Directors’ and officers’ insurers have been advised to look carefully at the recent court case judgement against former directors of the failed Centro property group…
EQC faces legal action as payments pass $NZ1 billion
11 July 2011
New Zealand’s Earthquake Commission expects it has received all claims for the most severe damage from the Christchurch earthquakes after paying out over $NZ1 billion ($778 million) since…
Flood: Government announcement on standard definition imminent
04 July 2011
The Federal Government is expected to reveal its standard flood definition “very soon” following industry agreement on a definition, the Insurance Council of Australia has told…
Rates: Insurers ignore temptation to raise premiums
04 July 2011
Competition is keeping a lid on premium rises during the June 30 renewals period, according to brokers…
Australia-NZ reinsurance costs up as market in transition
04 July 2011
Reinsurance rates in the Australia-New Zealand market increased between 20-100% in the June renewals, according to a report by risk and reinsurance specialist Guy Carpenter…
Another council considers relocations for flood-prone properties
04 July 2011
Moreton Bay Regional Council is considering introducing a buyback scheme for properties that regularly flood…
NSW floods cost local economy around $35 million
04 July 2011
Insurance claims from the NSW mid-north coast floods have fuelled more complaints about flood definitions…
Australian insurers earn $18 billion from overseas sales
04 July 2011
Australian insurers with overseas operations achieved a total of $18 billion of sales during the 12 months ending June 2010…
Share the load for bushfires, WA told
04 July 2011
Perth residents must take shared responsibility for bushfire risk management, according to an investigation into the fires that swept through the state’s eastern suburbs in February…
Flood simulations for coastal regions
04 July 2011
CSIRO will apply its cutting-edge 3D extreme events simulation flood modelling research to coastal areas of Queensland to assess the impact of growing sea level rises…
Unpaid tradies contemplate court action
04 July 2011
New Zealand’s Earthquake Commission and insurers could face some judicial pain ahead as unrest mounts over unpaid claims for repair and reconstruction work in Christchurch…
No business interruption cover for airlines affected by ash cloud
27 June 2011
Airlines affected by the volcanic ash cloud across Australia and New Zealand from Chile’s Puyehue Cordon Caulle volcano are unlikely to have business interruption policies in place to cover the event…
Disaster costs continue to rise
27 June 2011
The estimated cost to insurers of Cyclone Yasi has topped $1 billion, according to figures published by the Insurance Council of Australia on Friday…
Christchurch earthquake: NZ councils may have no cover after June 30
27 June 2011
New Zealand’s principal local government insurer has told its clients it cannot provide property cover after June 30 because it has failed to obtain reinsurance…
Christchurch earthquake: Insurers welcome buyout option
27 June 2011
New Zealand insurers say a Government decision to offer a buyback option for 5100 residents in the worst affected areas of Christchurch will “provide clarity for customers”…
Parliamentary disaster insurance inquiry to visit most states
27 June 2011
The federal parliamentary inquiry into the insurance response to natural disasters will hold public hearings in Queensland, NSW, rural Victoria and WA as well as Canberra and Sydney later this year…
Flood: New research outweighs mapping techniques
27 June 2011
The CSIRO believes its cutting-edge dam modelling research could outstrip current flood-mapping technology, and is in discussions with insurers and government officials to bring it…
Christchurch earthquake: EQC coping with assessments
27 June 2011
The NZ Earthquake Commission has confirmed it is on track to complete assessments of all major damage to Christchurch properties by mid-July…
Seminars to debate mandatory flood cover announced
27 June 2011
The controversial proposal to make flood cover mandatory will come under the microscope next month as the Natural Disaster Insurance Review panel takes part in two information…