Brokers not reporting code breaches set for more scrutiny
10 October 2022
Brokers that are not reporting any code of practice breaches are set to face scrutiny from the compliance committee due to concerns that issues are flying under the radar...
Local
AMI data reveals young drivers most at risk of accident
10 October 2022
IAG-subsidiary AMI says New Zealand drivers under the age of 25 are 26% more likely to have an accident when compared to other drivers...
EQC-backed project tackles Southland 'knowledge gap'
10 October 2022
Researchers from the University of Otago have set up a network of seismometers in Southland that they say will fill a “seismic blind-spot” to uncover hidden fault lines in the region...
High Court sets hearing date for BI test case application
03 October 2022
The High Court of Australia will hear arguments mid-month around allowing further appeals on the covid-related business interruption test case...
Dive In festival finds mental health tops industry's fix-it list
03 October 2022
New research reveals insurance professionals rank mental health as the most pressing cultural issue that needs to be addressed within the industry, followed by gender equity...
'Uneducated' SMEs exposed to cyber threat
03 October 2022
Despite attacks on giant firms such as Optus grabbing the headlines, SMEs are increasingly the victims of cyber crime, the Actuaries Insitute warns...
Inflation leaves 9 in 10 Australians underinsured, AIQS says
03 October 2022
Underinsurance among Australia’s homeowners, which spiked last year as the cost of building materials inflated, is likely to have now increased to beyond 90% of policyholders, the Australian Institute of Quantity Surveyors says...
EQCover building cap rise takes effect
03 October 2022
New Zealand homeowners will have their EQCover building cap doubled to $NZ300,000 for their insured properties after previously announced changes came into effect on October 1...
Torrential rainfall, flooding hits NSW, Queensland
26 September 2022
Torrential rainfall fell in parts of NSW and southeast Queensland last week, causing rivers to burst their banks and flash flooding to hit already saturated areas, as an extended wet weather pattern continues to lead to further insurance claims...
Australia more at risk from cyberattacks, Thales says
26 September 2022
More Australian organisations are under scrutiny from cyber hackers and nation-state actors after leaders signed up to international security pacts, French technology group Thales Cloud Security says...
Half-year intermediary premium rises
26 September 2022
Intermediaries placed more business by premium in the June half, invoicing about $16.58 billion compared with $14.2 billion in the corresponding period last year, Australian Prudential Regulation Authority figures released last week show...
Renewable energy rise puts spotlight on project cargo cover
26 September 2022
Rising renewable energy development in Australia has highlighted the logistical challenges in shipping specialist equipment from overseas and the role of project cargo insurance in supporting new power generation, Axa XL says...
Catastrophes 'threaten viability' of home cover: Taylor Fry
19 September 2022
More frequent and severe natural disasters could make home and contents insurance unviable for insurers, Taylor Fry warns...
Changing climate drives up premiums, data consultancy says
19 September 2022
Premiums are set to remain “inflated” as changing climate patterns lead to more extreme weather events in Australia, analytics consultancy Decision Inc said today after examining key data from the last few years...
S&P projects 8% premium growth for NZ industry
19 September 2022
New Zealand general insurance premium is likely to achieve a “solid” 8% growth this calendar year, S&P Global Ratings said today in an update...
ICNZ releases July extreme weather claims figures
19 September 2022
The Insurance Council of New Zealand Te Kahui Inihua o Aotearoa says more investment in extreme weather resilience is needed in response to the release of its claims data for July...
ICA warns communities to prepare for La Nina
19 September 2022
The Insurance Council of Australia has issued warnings for residents across eastern Australia for forecasted wet weather events throughout spring and early summer, as the onset of a third La Nina event begins...
First Nations business owners grapple with insurance: Allianz
19 September 2022
Just 21% of First Nations SMEs have general property insurance, compared with 42% for the broader SME sector, new research from Allianz has found...
'We all pay': ICA outlines true cost of catastrophes
12 September 2022
Every Australian household paid an average of $1532 in the last financial year to cover the cost of extreme weather events, according to two significant reports released by the Insurance Council of Australia...
Claim handling delays top issue as flood complaints rise
12 September 2022
The Australian Financial Complaints Authority says claim handling delays, claim amounts and denials have emerged as the top issues causing disputes following the flooding that hit Southeast Queensland and northern NSW earlier this year...