No need for change, says NIBA CEO
27 April 2010
Moves to abolish insurance commissions should have no bearing on the general insurance broking sector, National Insurance Brokers Association CEO Noel Pettersen says…
Local
Airlines should foot bill, says broker
27 April 2010
Disruptions to the global airline industry as a result of Iceland’s volcanic eruption have wiped nearly $2 billion off its revenue, with local carrier Qantas saying it’s losing nearly…
D&O risks increasing: Zurich
27 April 2010
Threats facing Australian directors and officers are growing amid shareholder activism and a clampdown by financial regulators in foreign jurisdictions, according to Zurich directors’…
Commercial market remains competitive
27 April 2010
Reports of hardening premiums are being tempered by Zurich Australia’s new general insurance chief Shane Doyle, who says the market remains “very competitive”…
Premiums rising, says Aon survey
19 April 2010
Insurance premiums increased by an average of 6.4% last year, according to research by Aon Australia…
QBE drops Canberra bushfires legal action
19 April 2010
QBE has joined Suncorp is withdrawing from legal action against the ACT Government over the 2003 Canberra bushfires…
Storm claims set to top $2 billion
19 April 2010
Insurance claims from the severe storms in Perth and Melbourne last month look set to top $2 billion as the bill for the natural catastrophes continues to mount…
Volcano casts pall over airlines, not passengers
19 April 2010
Thousands of Australian passengers stranded by the Icelandic volcano eruption should be covered under travel insurance, but exposure to the freak event is far greater for the airlines’ insurers…
Coal carrier’s officers fined for reef destruction
19 April 2010
Two crewmembers from the stricken bulk carrier Shen Neng 1 have been charged by federal police as oil from the tanker washed up on a beach on Queensland’s southeast…
Stricken ship has ‘proper and adequate’ cover
12 April 2010
The owner of the Chinese bulk carrier Shen Neng 1 that ran aground on Douglas Shoal in Queensland on April 3 says “proper and adequate” hull and liability insurance is in place…
Storm claims top $1.5 billion
12 April 2010
Insurance claims from the wild storms in Perth and Melbourne last month have topped $1.5 billion following a rash of new claims in WA…
Ibbotson outlines industry challenges
12 April 2010
The local insurance industry must get to grips with changing technological times, according to QBE CEO Australian Operations Terry Ibbotson…
GIO won’t pursue government over insulation
12 April 2010
Leading personal lines insurer GIO says it won’t pursue the Federal Government to recover claims costs arising from the dodgy home insulation debacle…
Local insurance industry stable: Moody’s
12 April 2010
The stability of Australia’s insurance sector has been confirmed by ratings agency Moody’s…
Court rules against QBE in workers’ comp case
12 April 2010
The High Court has ruled against QBE in a high-profile workers’ compensation case, leaving the insurer liable for more than $350,000…
Councils win court battle against Lehman Bros
12 April 2010
The High Court has paved the way for local councils to pursue failed investment firm Lehman Brothers over their investment losses…
Who owns the customer? NZ Court of Appeal to decide
12 April 2010
A New Zealand High Court stoush between ANZ National and Tower Insurance over a $70 million premium book has moved to the NZ Court of Appeal…
Dramatic rise in Melbourne storm claims
29 March 2010
Insured loss estimates from the Melbourne hailstorm on March 6 have risen 68% in little over a week to $830 million…
Perth storms worst in decades
29 March 2010
Hailstorms that pounded Perth last week have reaped a damage bill of $203 million thus far, insurers say…
Victoria scraps privatised builders’ warranty scheme
29 March 2010
The Victorian Government has followed NSW in axing the privatised builders’ warranty insurance market and will take over the scheme…