FOFA: No commissions for brokers selling to super funds
02 May 2011
Insurance brokers will lose their commission if they sell a policy to a superannuation fund, Treasury has confirmed to insuranceNEWS.com.au…
Local
ICA chief lays flood blame on governments
02 May 2011
Insurance Council of Australia CEO Rob Whelan has accused all levels of government in Queensland for not undertaking flood mitigation works…
S&P says local industry in good shape
02 May 2011
Ratings agency Standard & Poor’s has given Australia’s general insurance industry a clean bill of health, despite the impact of the recent natural disasters…
Christchurch earthquake: 300,000+ claims lodged
02 May 2011
New Zealand’s Earthquake Commission has received more than 300,000 claims from the two Christchurch earthquakes and the aftershocks…
Flood: Recovery chief tackles insurers
02 May 2011
Queensland’s Reconstruction Authority Chairman, Major General Mick Slater, is contacting insurance company CEOs to speed up claims in flood-devastated areas of the state…
Flood: Compulsory insurance could be tricky for lenders
02 May 2011
Banks are considering whether to make flood insurance compulsory for people taking out home loans on properties in flood-prone areas…
Flood: Earlier warning no help
02 May 2011
Toowoomba Regional Council CEO Ken Gouldthorp has told the Queensland flood inquiry that earlier warnings from the Bureau of Meteorology wouldn’t have made a difference to the result…
Christchurch earthquake: Bermuda insurers/reinsurers count the cost
02 May 2011
Bermuda-based insurers and reinsurers have written 51% of the claim liabilities for the September 6 Christchurch earthquake and 14% of claims for the Japan earthquake and tsunami…
Shorten sets up another insurance review body
18 April 2011
Assistant Treasurer Bill Shorten will chair a new “Insurance Reform Advisory Group” bringing together industry bodies and two key Federal Government ministries…
Panel to assess existing disaster models
18 April 2011
Overseas insurance schemes to deal with natural disasters including flood will be examined by the Federal Government’s new Natural Disasters Insurance Review…
Queensland was warned of wet spell
18 April 2011
The Queensland Government was given advance warning of a wetter than average summer, the state’s inquiry into the recent flood disasters has heard…
ICA president hits back at critics
18 April 2011
Insurance Council of Australia IPresident Rob Scott has hit back at critics of the industry’s actions over the flood insurance issue, advising them to address their own failings over flood…
IAG CEO defends insurers’ role in flood claims
18 April 2011
IAG CEO Mike Wilkins has condemned calls for insurers to pay flood claims that were not covered by policies…
Quake rates to rise in wake of Christchurch
18 April 2011
The New Zealand earthquake levy is set to double as the Government rebuilds the financial position of its disaster pool…
Brand risk still tops business worry list
18 April 2011
“Image and branding” continues to be the key risk concern for business in Aon’s annual risk management benchmark survey…
Tight NZ market likely to remain into 2012
18 April 2011
The New Zealand property and business interruption market hardened rapidly following the September Christchurch earthquake, and tighter conditions can be expected to continue into 2012…
Actuaries divided on subsidised flood premiums
18 April 2011
Australia’s actuaries support risk-based property insurance for natural disasters but are divided on whether there should be premium subsidies for high-risk properties…
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…
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…