Flood: scare stories discourage claims
14 February 2011
“Scare stories” about flood terminology are discouraging Queenslanders from making claims, a public meeting organised by the Insurance Council of Australia heard last week…
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Flood: Brisbane levels could be higher
14 February 2011
A report by actuarial consulting firm Finity concludes that Brisbane is likely to suffer future riverine flooding at higher levels than this year’s 4.5-metre peak…
Flood: hydrologists aim to speed claims
14 February 2011
An expert panel of three hydrologists established by the Insurance Council of Australia began work in January on reports that the council believes will speed up the claims process for…
Flood: actuaries call for national management plan
14 February 2011
Any plan for dealing with floods needs to tackle issues that are broader than property insurance, according to the Institute of Actuaries of Australia…
Flood: bills mount for Queensland, Victoria
14 February 2011
Claims for the Queensland floods continue to rise, with Insurance Council of Australia members so far receiving more than 43,755 claims worth an estimated $2 billion…
Yasi damage bill months away
14 February 2011
Insurance losses from Cyclone Yasi are set to exceed Cyclone Larry, although a final figure won’t be known for months due to a chronic shortfall of loss adjusters…
Insurers receive WA fire claims
14 February 2011
Insurers have begun fielding calls from policyholders affected by the devastating bushfires that swept through Perth’s eastern suburbs last week…
Calls for national study into underinsurance
14 February 2011
A new paper by the Australian Strategic Policy Institute calls on the Council of Australian Governments to play a role in solving the underinsurance crisis…
Uninsured quake claims to grow
14 February 2011
NZ’s Earthquake Commission has rejected more than 500 claims from the September Canterbury quake because the claimants weren’t insured…
Review before you renew car cover: Choice
14 February 2011
A car insurance survey by consumer magazine Choice advises buyers to “shop around” before renewing…
Builders’ scheme ‘a farce’
14 February 2011
A builders group has branded the Victorian builders’ warranty insurance scheme a farce after insurer Calliden announced it would remain in the market…
800 properties affected by Yasi
07 February 2011
At least 150 properties in North Queensland have been destroyed by Cyclone Yasi and 650 significantly damaged, according to the Insurance Council of Australia…
Bushfire destroys 41 homes, flood hits city
07 February 2011
While Cyclone Yasi and the Queensland and Victorian floods have dominated national attention over the past week, major catastrophes in WA and Melbourne at the weekend have added to the nation’s woes…
Flood: Aon Benfield puts bill at $10-20 billion
07 February 2011
Reinsurance broker Aon Benfield has estimated the damage from the floods in Queensland, Victoria and NSW could reach $20 billion, making it the costliest natural disaster in Australian history…
Flood: Marsh pushes for pool
07 February 2011
The Insurance Council of Australia is dead against it, but that hasn’t stopped giant broker Marsh calling on the Federal Government to consider introducing a flood reinsurance pool similar to the successful…
Flood: more mitigation needed, says Suncorp chief
07 February 2011
Suncorp Group CEO Patrick Snowball has declined to speculate on suggestions that insurance premiums in Queensland could rise by 30%, but says more work needs to be done on risk mitigation…
Flood: delays stretch policyholders’ patience
07 February 2011
Brisbane insurance brokers say delays in claim approvals are inevitable given the scale of the Queensland floods…
Flood: ICA to talk to communities
07 February 2011
The Insurance Council of Australia is fronting up to flood-affected Queensland from tomorrow when it joins the Financial Ombudsman Service and Queensland Legal Aid in a series of community…
Loss adjusters stretched
07 February 2011
Loss adjusters are calling in reinforcements from Canada, the UK, Asia and the US to cope with the growing barrage of claims from the Queensland and Victorian floods and Cyclone Yasi…
Tropical strata cover difficult to find
07 February 2011
Strata insurance in north Queensland is becoming “almost impossible to place” amid severe price hikes and an unwillingness by underwriters to cover high-value properties…