Flood: Shorten aims for cover changes
31 January 2011
Assistant Treasurer Bill Shorten will sit down with insurance industry leaders in Sydney on Thursday to find ways to make flood insurance more commonly available…
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Flood: too early to predict Queensland cost
31 January 2011
Claims from the Queensland floods are expected to exceed $1.5 billion – but this doesn’t include claims from mining and heavy industrial sectors, which are expected to be massive…
Flood: Victorian claims mount
31 January 2011
Claims related to the Victorian floods have so far reached $69 million, the Insurance Council of Australia reported today…
Flood: brokers brace for backlash
31 January 2011
Brokers are bracing for legal actions from flood-affected policyholders who claim they weren’t informed they were not covered…
Flood: reinsurance under pressure after floods
31 January 2011
While reinsurance has sheltered insurers from the very worst of Queensland’s floods claims, treaties are now almost certain to rise, according to the world’s largest reinsurer…
Flood: BI cover under-rated
31 January 2011
As hundreds of small businesses begin grappling with the aftermath of the Queensland and Victorian floods, a startling number will be left short, with a growing percentage not covered for business…
Flood: insurance investment outlook sinking
31 January 2011
The insurance sector faces an uncertain outlook for investors, according to Melbourne-based fund manager Aviva Investors…
Flood: life industry helps victims
31 January 2011
Life insurance members of the Financial Services Council say they are dealing with requests for payments from flood victims…
Anthony out of puff, but Cyclone Yasi tougher
31 January 2011
The central Queensland coast has escaped significant major damage from Cyclone Anthony after it made landfall at Bowen last night…
Insurance profits remain strong
31 January 2011
Bottom-line profitability in the insurance industry remains robust despite the impact of catastrophic events, an easing in reserve releases and a two-speed premium market…
Christchurch still shaking
31 January 2011
Claims from NZ’s earthquake-stricken Canterbury province have reached nearly 171,000 and continue to rise following more severe aftershocks…
WA bushfire claims mount
31 January 2011
Residents in the small town of Lake Clifton south of Perth are continuing to count the cost of a bushfire that tore across more than 2000 hectares of land last month, with initial estimates of damage…
Policy is death mine’s best asset
31 January 2011
The receiver of the Pike River Coal mine on NZ’s west coast says the company’s main asset is now its insurance policy, but any settlement with the insurer will probably be “considerably less” than…
Suncorp webcast will advise brokers
19 January 2011
Suncorp will host a webcast forum tomorrow afternoon to allow brokers – especially those in the flood-affected areas – to share their views and ask questions…
Insurers don’t want a national scheme
19 January 2011
Calls for a government-sponsored scheme to provide funding for flood victims have not been welcomed by the Insurance Council of Australia…
Retailers consider claims class action
19 January 2011
Queensland retailers who have been told their claims are not covered may join in a class action, according to United Retail Federation National President Scott Driscoll…
Inquiry will examine flood insurance
19 January 2011
An independent commission of inquiry into the Queensland floods disaster will examine the role of the private insurance industry in providing cover, according to Premier Anna Bligh…
Claims mount as insurers get to work
19 January 2011
The real work for the insurance industry is only just beginning…
Media critical, pollies push for more
19 January 2011
As has been the case in every recent flood in Australia, the different stances on flood cover by different companies has led to a great deal of criticism, with senior politicians and the media weighing in…
Agencies ‘don’t invest in the industry’
13 December 2010
There’s too much capacity in the Australian general insurance market, with a proliferation of underwriting agencies who don’t invest in the industry…