Industry faces backlash over rising premiums, CEO warns
01 August 2011
CGU CEO Peter Harmer has identified a backlash against rising insurance premiums as the next major reputational issue facing the insurance industry…
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Customers need clearer policies
01 August 2011
Global insurers are still struggling to meet customer standards of disclosure despite scoring high satisfaction ratings, according to an Accenture survey…
Queensland claims payout tops $1.6 billion
25 July 2011
Claims paid by insurers for the Queensland flood and Cyclone Yasi have risen to more than $1.6 billion…
Flood review: Actuaries call for temporary insurance pool
25 July 2011
The Institute of Actuaries of Australia has called for a temporary flood insurance pool, saying such a move will encourage flood mitigation and mapping…
Flood review: NIBA wants everyone to work on risks
25 July 2011
The National Insurance Brokers Association wants a “whole of nation” approach to natural disaster management, saying insurance is just one part of the solution…
NZ brokers resist call to ‘share the pain’ with lower commissions
25 July 2011
New Zealand insurance brokers are already “sharing the pain” of industry losses, and calls for lower commissions aren’t realistic, Insurance Brokers Association of New Zealand CEO Gary Young says…
Flood review: Cover deal shouldn’t include small business, say insurers
25 July 2011
Insurers and the Insurance Council of Australia contend that any plan to provide insurance assistance to houses at high risk of flooding should not be extended to small businesses facing flood risks…
Flood review: Industry commits to raise awareness
25 July 2011
Both the Insurance Council of Australia and IAG have set out plans to increase the level of flood awareness in the community…
Rates need to rise to pay for disasters – Levene
25 July 2011
Lloyd’s Chairman Lord Levene has called for rates to rise to sustain the insurance industry in light of the recent number of natural catastrophes…
Macquarie launches broking benchmarking survey
25 July 2011
Macquarie Relationship Banking has launched its Insurance Broking Benchmarking Survey, which will identify industry trends and provide comparisons…
Queensland on thieves’ radar
25 July 2011
Queensland motorist are facing an “unprecedented” number of profit-motivated thefts, according to the National Motor Vehicle Theft Reduction Council…
Manager warns of reinsurer impatience
25 July 2011
Vero NZ South Island Branch Manager Bryan Noonan has reportedly told local business owners reinsurers have “just about had enough” of Canterbury…
IAG, Suncorp to extend flood cover as NDIR debate intensifies
18 July 2011
Australia’s two largest personal lines insurers have announced significant widening of their flood cover offerings as the industry moves to counter the Natural Disaster Insurance Review’s push for…
‘Bush ignored’ in response to flood cover review
18 July 2011
Wesfarmers Insurance says that the current government review into flood insurance has failed to address rural and regional issues…
Rational thought vital for flood debate
18 July 2011
A leading economist has called for “rational thinking” in the debate over flood insurance and the proposal to offer discounted rates for high-risk areas…
Victorian disaster inquiry warns of further flooding
18 July 2011
The potential for more flooding in Victoria cannot be ignored, with dams at or near capacity providing limited flood mitigation capacity, a report into the state’s summer flood disaster has warned…
NZ reinsurance rises ‘aren’t temporary’
18 July 2011
The New Zealand insurance market is going through a “fundamental and significant shift” to permanently higher premiums, according to Lumley NZ CEO John Lyon…
NZI, Lumley, QBE rated tops in quake response survey
18 July 2011
Canterbury brokers surveyed on insurers’ response to the Christchurch earthquakes have ranked NZI, QBE and Lumley as the best-performing companies…
Earthquake group wants input on recovery strategy
18 July 2011
The Canterbury Earthquake Recovery Authority has called for community input into developing its earthquake recovery strategy…
Customers seek human interaction
18 July 2011
The insurance industry needs to move with the times and offer cross-transactional options to customers to cater for the shift from a buyers’ to a sellers’ market, according to a new survey…