Insurance code disregarded by insurers
03 May 2010
Insurers are taking a liberal view of the industry’s Code of Practice, with nearly half of those reviewed by the Ombudsman last year found to have breached the code…
Local
Council and residents dispute flood rulings
03 May 2010
The council representing a number of southern Queensland towns affected by recent flooding is calling on insurers to commission a second hydrological report to better define…
Floodwaters threaten NZ tourist town
03 May 2010
Floodwaters are once again threatening to inundate the NZ tourist hub of Queenstown as an overflowing Lake Wakatipu encroaches on the low-lying CBD…
Do more for claimants, says Zurich chief
03 May 2010
Zurich Financial Services Australia CEO David Smith has challenged his colleagues in the industry to commit to “changing the mindset” from paying claims to restoring people’s lives…
Cabbies caught out over unpaid premium
03 May 2010
As many as 60 Perth taxi drivers have been driving without adequate insurance for almost two months without knowing SGIO had cancelled their motor fleet policy for non-paymen…
Risk insurance escapes commission ban
27 April 2010
Risk insurance is not covered under reforms announced yesterday by the Federal Government, which include commissions on investment products being banned…
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…
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…