Big rate rises follow NZ quakes
16 May 2011
New Zealand insurance premiums have begun to rise as reinsurers price for higher risk following the Christchurch earthquakes…
Local
Flood: Better communication, flood mitigation needed
16 May 2011
North Pine Dam, northwest of Brisbane, poses a greater flooding threat to densely populated areas than the Wivenhoe and Somerset dams, Queensland’s flood commission of inquiry was told…
Regulatory push could lead to NZ market consolidations
16 May 2011
The Reserve Bank of New Zealand is expecting some merger and acquisition activity as a result of its takeover of insurance licensing in 2013…
Christchurch earthquake: EQC payments approaching $NZ850 million
16 May 2011
New Zealand’s Earthquake Commission has paid out nearly $NZ850 million ($632 million) in claims following the two Christchurch earthquakes and aftershocks…
Queensland floods, cyclone insurance bill almost $1 billion
09 May 2011
The Queensland floods and Cyclone Yasi have cost local insurers almost $1 billion, according to the Insurance Council of Australia…
Christchurch earthquake: Decisions on damaged land delay rebuilding
09 May 2011
Damage to land as well as property is complicating the insurance process for property-owners in and around earthquake-ravaged Christchurch…
Flood: Mapping needs a higher priority
09 May 2011
The Insurance Council of Australia says a $12.1 million Victorian Government investment in flood warning systems could be better spent on mapping…
Coastal mapping is a good first step
09 May 2011
IAG says a government moves to improve the understanding of climate change issues in high-risk coastal areas is a step in the right direction…
High-risk sell off
09 May 2011
Victorians living in flood and bushfire-prone areas can now cut their losses with the option to sell off their land to the State Government…
Auckland tornado likely to causes losses of around $NZ10 million
09 May 2011
Insured losses of around $NZ10 million ($7.4 million) are expected from the tornado that hit the Auckland suburb of Albany last week, killing one person…
WA crop insurance scheme grows
09 May 2011
CBH Mutual has had “a good response” from WA farmers signing up for its crop multi-peril insurance scheme…
RIMS defines strategic risk management
09 May 2011
The US-based Risk and Insurance Management Society has issued guiding principles and a definition for strategic risk management, saying it’s a growing area of enterprise risk management…
FOFA: Brokers escape the worst
02 May 2011
General insurance brokers will still be able to receive commissions on insurance products and volume payments after being excluded from the Federal Government’s Future of Financial Advice reforms…
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…
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…