IAG spells out how to relocate communities
03 April 2023
Community support is vital for any planned relocation of homes at high risk of natural catastrophe damage, and there is no one-size-fits-all approach, a new IAG report says...
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Rates to rise at least 10%, KPMG says
03 April 2023
Consultancy KPMG says general insurance pricing conditions will harden further this year, predicting rates will increase by at least 10% as general insurers respond to last year’s flood catastrophes and other natural disasters...
Intermediaries place more business as invoiced premium passes $18 billion
03 April 2023
Business placed by general insurance intermediaries, as measured by premium invoices, went up in the July-December period to $18.5 billion from $17.2 billion a year earlier, according to the Australian Prudential Regulation Authority...
Cyclone Gabrielle to cost insurers $1.44 billion: Perils
03 April 2023
Insured losses from Cyclone Gabrielle will reach $NZ1.54 billion, Swiss-based catastrophe data company Perils estimates...
Insurer input key to better building strategy, NZ academic says
03 April 2023
The insurance sector must be part of discussions on where and how homes are built as New Zealand considers how to better prepare for a future affected by climate change, Massey University Senior Lecturer in Economics Michael Naylor says...
ANZIIF CEO Prue Willsford to step down
27 March 2023
Australian and New Zealand Institute of Insurance and Finance CEO Prue Willsford will step down at the end of the year after a decade in the role...
No appeal lodged after JLT councils scheme class action victory
27 March 2023
JLT’s victory in a NSW Supreme Court class action brought by a group of local governments will not be appealed by the councils, with the deadline for lodging documents ending last week...
Suncorp panel calls for collaboration on disaster resilience
27 March 2023
A panel discussion hosted by Suncorp and public policy group The McKell Institute says cooperation between insurers and governments remains “imperative” to ensure that Queensland is “fully risk-ready” for future natural disasters...
NZ insurers estimate Gabrielle losses at $830 million
27 March 2023
Preliminary estimates indicate Cyclone Gabrielle has caused insured losses of around $NZ890 million, the Insurance Council of New Zealand says...
February's Freddy the longest-lived cyclone on record
27 March 2023
Tropical Cyclone Freddy, which formed off the coast of WA on February 6 and killed 435 and caused widespread destruction in Madagascar, Mozambique and Malawi, has set a number of new records, Risk Frontiers says...
Disaster Legal Help Victoria holds floods forum
27 March 2023
Disaster Legal Help Victoria is holding an online session on Wednesday to provide information for people with insurance issues arising from last year’s flooding...
BI class actions set for tussle over a way forward
20 March 2023
The Federal Court has scheduled a two-day hearing for July to decide whether four business interruption class actions filed by two legal firms should instead proceed as individual claims, as sought by insurers...
Auckland flood loss estimate is now $1.5 billion
20 March 2023
Swiss catastrophe data firm Perils has estimated the Auckland flood catastrophe has so far led to insured losses of about $NZ1.65 billion...
AFCA says delays extend beyond disaster claims
20 March 2023
The Australian Financial Complaints Authority says claim-handling delays were the major cause of general insurance complaints last year, and the issue extended beyond disputes arising from flooding and other catastrophes...
Drought-causing El Nino could form later this year
20 March 2023
An El Nino event, typically associated with heatwaves and bushfires in eastern Australia, could form later this year following the end to climate driver influences that have recently brought wet weather and flooding...
Global cover gaps highlight NZ cyber, disaster issues
20 March 2023
The Insurance Council of New Zealand says a global report highlighting protection gaps for cyber risks and natural disasters is particularly relevant locally...
Tough times result in swing towards brokers: Vero SME Index
13 March 2023
Broker satisfaction levels remain high and there may be a shift toward seeking the advice of intermediaries amid difficult economic conditions, the latest Vero SME Insurance Index shows...
Intense fires blaze across Australia's east coast
13 March 2023
Severe blazes have raged across Australia’s east coast in what has been described as the worst fires since the 2019/20 “Black Summer”...
Beware Tuesdays: e-scooter workers' comp claims triple
13 March 2023
Workers’ compensation claims for e-scooter crashes have more than tripled in three years, with almost 16 claims made on average every month in 2022, up from less than five in 2019, research funded by RACQ has found...
S&P sees New Zealand 2023 P&C combined ratio at 98%
13 March 2023
New Zealand’s property and casualty insurers face “materially lower” earnings, with profitability to dip substantially in the face of record weather-event claims, inflationary pressures and ballooning reinsurance charges, S&P Global Ratings says...