Snowball calls for natural disaster inquiry
30 May 2011
Suncorp Group CEO Patrick Snowball wants a review of natural disaster management modelled on the Wallis Inquiry of the late ’90s, which led to the financial services reforms of 2001 and later…
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Council offers residents the chance to move from floodplain
30 May 2011
Residents of the Lockyer Valley whose properties were devastated in the January floods have been offered a cost-free opportunity to relocate to safer ground in the region…
ACORD Australian business app wows US P&C forum
30 May 2011
Australian representatives of the Association for Co-operative Operations Research and Development received a standing ovation when they ran a live demonstration of the new Steadfast business…
Christchurch earthquake 2: EQC receives 159,000 claims
30 May 2011
The New Zealand Earthquake Commission’s deadline for the February 22 Christchurch earthquake has passed with 159,318 claims being made…
EQC ‘owes Christchurch tradesmen’
30 May 2011
New Zealand’s Earthquake Commission is being pressured to pay the bills of tradesmen doing repair work around Christchurch or face legal action…
Government review to advocate compulsory flood cover for insurance-buyers
23 May 2011
The Federal Government’s Natural Disaster Insurance Review is advocating a “full flood cover” solution to the availability and affordability of flood insurance, which will mean that all insurers…
Queenslanders don’t want to pay to insure all Australians
23 May 2011
The majority of Queenslanders are against paying a property tax or levy to adequately insure all Australians against natural disaster, an Insurance Council of Australia survey has revealed…
Insurers back flood definition but wary of ‘key facts’
23 May 2011
Insurers who responded to the Federal Government’s consultation on a standard flood definition have generally accepted the suggested wording…
Reinsurers positive about Australia – at a cost
23 May 2011
Reinsurers in Europe are “positive but concerned” about risks in Australia, but they have retained their appetite for risk in this part of the world, according to Suncorp CEO Commercial Insurance…
Conservative approach to national flood map could drive up premiums
23 May 2011
Any national flood-mapping scheme could be “overly conservative” in its assessment of which areas are at high flood risk, potentially penalising affected homeowners with higher insurance premiums…
Christchurch earthquake: 10 separate events, reinsurance rise looms
23 May 2011
New Zealand’s Earthquake Commission has recognised 10 events for insurance purposes from the time of the first major earthquake on September 4, 2010…
Another insurer at risk, says NZ Treasury
23 May 2011
The New Zealand insurance industry is concerned that the Reserve Bank and Treasury have damaged the industry by raising fears that another insurer is at risk of failure…
Insurers ‘accepting’ contestable platforms
23 May 2011
Most insurers have accepted the “new reality” of contestable platforms being used by brokers to compare policy features and costs, but there are fears that it could drive clients toward…
New flood regulations for Brisbane
23 May 2011
Brisbane City Council has introduced interim flood levels and standards as a result of the January floods…
Flood: Rainfall forecasts questionable
23 May 2011
The decision to use rainfall forecast data during a flood crisis should be left to the engineer in charge, the Queensland flood inquiry has heard…
ICA claims public support for flood-prone buildings ban
23 May 2011
The Insurance Council of Australia says Australians support the industry’s call for a ban on building residences in flood-prone areas…
Insurer sues council over roof collapse
23 May 2011
Insurer NZI has sued Invercargill City Council in New Zealand’s South Island for $NZ27 million ($20.1 million) over construction work on a stadium roof that collapsed…
Research reveals insurance exclusion
23 May 2011
A social financial study has shown that 17.7% of people over the age of 18 are unable to access general insurance due to affordability…
Rates have begun to move as market hardens
16 May 2011
Rates are rising and insurers are imposing tougher conditions on difficult risks as the market enters a new hardening phase…
QBE tops Aon rankings for fifth year
16 May 2011
QBE has again scooped the pool in the annual Aon Australasian Risk Management Benchmarking Survey, topping the list as the most respected insurer overall for the fifth consecutive year…