Christchurch earthquake: EQC says it’s OK
28 February 2011
The NZ Earthquake Commission has refuted media reports that damage from this latest aftershock will drain its funds…
Local
Flood: expert defends hydrologists’ ethics
28 February 2011
A leading figure in the claims sector says attacks on the independence of hydrologists reporting to the Insurance Council of Australia are “nonsense”…
Flood: Queensland shops for reinsurance
28 February 2011
The Queensland Government has bowed to Federal Government pressure and begun seeking reinsurance quotes, but Queensland Finance Minister Rachel Nolan says the price and…
Aon says rate hikes won’t lead to market cycle changes
28 February 2011
Risk consultants Aon and the Royal Bank of Scotland research arm Equities predict recent catastrophic events in Australia won’t be enough to turn the soft commercial market cycle…
Good forecast for crop premiums
28 February 2011
The outlook for crop insurance premiums is looking positive for the next 12 months, says Primacy Underwriting Agency Underwriting Manager Peter Book…
Flood: insurance plays minor role in firms’ flood recovery
28 February 2011
About 35% of medium and large-sized businesses affected by the Queensland floods do not have insurance, a National Australia Bank survey has found…
Directors feel the pinch
28 February 2011
Increasing class actions against companies and their boards are continuing to add pressure to directors’ and officers’ insurance…
ACORD focus shifts to implementation
28 February 2011
Peak global standards organisation the Association for Co-operative Operations Research and Development has shifted its focus from selling the message of uniform standards…
Mortgage cover goes under the microscope
28 February 2011
The lack of lenders mortgage insurance portability is cited as a bigger problem for homeowners than exit fees…
Hydrology report No 1 released
21 February 2011
The first hydrology report has been released by the Insurance Council of Australia, with CEO Rob Whelan saying the remaining reports will be released by the end of the month…
Yasi bill hits $800 million
21 February 2011
Queensland Treasurer Andrew Fraser has put the overall damage bill from Cyclone Yasi at around $800 million…
Queensland reinsurance debate rages
21 February 2011
Questions continued to be asked about why the Queensland Government chose not to reinsure some of its risk…
Reinsurance renewal ‘will top 15%’
21 February 2011
Australian insurers should expect rate increases at the June 30 reinsurance renewals period that are above the 15% experienced in 2010 and 2009, Munich Re has warned…
Worry about policy definitions later, says Snowball
21 February 2011
Politicians should be focusing on how the insurance industry is dealing with claims from the recent natural disasters and worrying about policy wordings later, Suncorp Group CEO Patrick Snowball…
Insurers ‘risk legal action’ over flood payouts
21 February 2011
Insurers who refuse flood claims may be subject to legal action unless they can prove they advised policyholders that flood coverage was excluded, a lawyer’s group says…
Flood recovery moving forward
21 February 2011
As life returns to relative normality for most living in Queensland’s flood zones, some brokers are still frustrated over delays in the time being taken by insurers to assess damage…
No major claims from Cyclone Carlos
21 February 2011
The cost of flooding in Darwin from Cyclone Carlos is still being assessed as claims slowly trickle in…
Ombudsman notes UK ash cloud case
21 February 2011
A UK small claims court decision to award compensation to a passenger stranded by the Icelandic volcanic ash cloud last year is not expected to set a precedent in Australia…
New ACORD standards await approval
21 February 2011
The insurance industry’s standards developer, the Association for Co-operative Operations Research and Development, has new forms awaiting approval which it says will improve data collection…
This month in Insurance News (the magazine)
21 February 2011
On March 15 it will be 10 years since the collapse of HIH, and the latest edition of our sister print publication Insurance News examines the history of the collapse, the major players and…