Christchurch quake will cost to NZ Government over $6 billion
18 April 2011
The New Zealand Government will spend about $NZ8.5 billion ($6.4 billion) in coming years on rebuilding Christchurch, according to Finance Minister Bill English…
Local
Speed, fatigue major causes of truck crashes
18 April 2011
If you’re middle-aged and driving a small truck on Highway 1 on a Monday in June between 11am and 2pm, take extra care – you’re at high risk of a serious truck accident…
Old cars stripped for black market
18 April 2011
The National Motor Vehicle Theft Reduction Council says a “changing youth culture” has contributed to a drop in stolen cars, but thieves are still targeting older cars for “black market” trade…
In Insurance News (the magazine) this month
18 April 2011
Assistant Treasurer Bill Shorten has spoken out on flood insurance and insurers’ attitudes in an exclusive interview with Insurance News (the magazine)…
Clarification: EQC funding
18 April 2011
In last week’s bulletin we quoted a director of the New Zealand Earthquake Commission on the fund’s ability to cover the cost of the February 22 Christchurch earthquake…
Flood: Insurers sledged at Ipswich meeting
11 April 2011
Insurers have defended a decision not to confront angry residents at an Ipswich meeting last week, saying it was “not the right forum” for discussions…
Flood: Shorten launches proposed definition
11 April 2011
Legal groups say the long-awaited release of a proposed common flood definition will finally give consumers a clear understanding of what they are covered for…
Tough time ahead for business clients with risks
11 April 2011
Businesses exposed to identifiable wind and flood risks will face premium increases and more restrictions on their policies, according to Marsh’s latest report on the local insurance market…
EQC model isn’t perfect, but a viable option
11 April 2011
New Zealand Earthquake Commissioner Giselle McLachlan says the scheme’s model “isn’t perfect” but could be a viable option for Australia as it investigates ways to insure against natural disasters…
Flood: ‘Abrupt spike’ caused flash flooding
11 April 2011
The Insurance Council of Australia’s final hydrologist report on the Lockyer Valley floods has classified the event as a flash flood…
Flood: Inquiry starts as submissions close
11 April 2011
Residents of the flash flood-devastated Lockyer Valley can make a submission to the commission of inquiry into the Queensland floods any time, with hearings beginning today…
Business resilience requires more than insurance
11 April 2011
The Federal Government is urging businesses providing critical infrastructure to do more to plan for natural catastrophes than just take out insurance…
Gender bias ban could come to Australia
11 April 2011
The European Union ban on gender-specific underwriting could happen in Australia, a major insurer has warned…
Flood: Guide to help claimants
11 April 2011
Queenslanders can now access a simple how-to guide for processing their claims following floods, storm and cyclones…
Property rates rocket in Queensland as market retracts
04 April 2011
Commercial and industrial property-owners in Far North Queensland are taking a battering from insurers who are increasing rates, excesses and deductibles…
Rates must rise, but ‘sustainably’, says Catlin
04 April 2011
Catlin CEO Stephen Catlin says global reinsurance and insurance rates should be increased in a “measured” way over the next six months in order to avoid a kneejerk reaction in the market…
Work harder on future risks, says global underwriter
04 April 2011
Insurers and brokers need to be ready to help customers understand the complexity of emerging risk needs, Zurich’s Global Chief Underwriting Officer Inga Beale says…
Flood: definition expected tomorrow
04 April 2011
The Insurance Council of Australia says a proposed flood definition to be released tomorrow will not be a silver bullet answer to flood insurance…
ICA wants bureau to collect flood-mapping data
04 April 2011
The Insurance Council of Australia has called for the Bureau of Meteorology to assume national responsibility for the collection, maintenance and publication of flood information…
S&P downgrades outlook on Japan, India, NZ – Australia stable
04 April 2011
Standard & Poor’s has downgraded its outlook to negative on the general insurance markets in Japan, India and New Zealand but upgraded China and Malaysia to positive…