XL explains downgrade confusion
31 March 2008
Bermuda-based insurer XL Capital is in damage control mode after Fitch Ratings downgraded several companies using the XL brand...
Local
Hospital project linked to subprime pain
31 March 2008
Melbourne media reports that a project to build a new Royal Children’s Hospital could be indirectly affected by the US subprime crisis revolve around the downgrading of a US insurer...
Cyclone George cleanup reveals flaws with disaster recoveries
31 March 2008
A year after Cyclone George tore through WA’s Pilbara region, a local council is telling victims who have had insurance claims rejected to apply for relief...
MP claims 200 policies unpaid from ’06 cyclone
31 March 2008
The Insurance Council of Australia has offered to meet controversial Federal MP Bob Katter to discuss unpaid insurance claims allegedly left unattended two years after Cyclone Larry…
Flood-wrecked Mackay cars net $6 million
31 March 2008
More than 1000 cars rated total insured losses from the Mackay floods have gone under the hammer at auction, returning $6 million...
Risk management is poor, say actuaries
31 March 2008
The Institute of Actuaries of Australia says recent economic jitters have exposed complacent risk management practices among Australian firms...
ANZIIF extends training to Thailand
31 March 2008
ANZIIF has introduced training programs in Thailand under a deal with the Thailand Insurance Institute...
ANZIIF set to merge with the UK’s Chartered Insurance Institute
17 March 2008
The Australian and New Zealand Institute of Insurance and Finance is planning to merge with its UK counterpart, the Chartered Insurance Institute...
Premiums to rise if severe weather continues
17 March 2008
Insurers may have to raise premiums if they decide Australia’s severe weather events are the result of permanent weather change...
Taskforce: Mackay homes repaired by Christmas
17 March 2008
Residents of more than 4000 flood-damaged homes in Mackay have been told their homes will be habitable by Christmas...
Consolidation going global: Hawker
17 March 2008
The impact of the new Solvency II legislation in Europe will lead to massive global consolidations in the insurance industry, according to IAG CEO Mike Hawker...
Car theft falls 8%
17 March 2008
Car theft in Australia declined 8% last year with big decreases in Tasmania and the ACT...
Real estate group launches landlord policy
17 March 2008
The Real Estate Institute of Victoria has launched its own insurance cover to protect landlords against dodgy tenants...
Steadfast strengthens role, centralises back office
10 March 2008
Major broker cluster group Steadfast will become a more familiar name in the wider Australian community following members’ agreement at the weekend to “push” the brand…
Industry silence greets Zurich’s flood initiative
10 March 2008
If Zurich Australia CEO David Smith was looking for industry support for his initiative to offer flood insurance to all policyholders, he didn’t get it this morning at the Steadfast Convention…
Three more years for Kelly
10 March 2008
Steadfast Chairman Robert Kelly has undertaken to spend three more years running the cluster group...
Open data standards move closer
10 March 2008
A meeting in Sydney last week has set the scene for the future introduction of open data standards in the Australian insurance market...
Club Marine sails into NZ market
10 March 2008
Insurance in New Zealand’s booming boating industry has become more competitive with the launch last week of an intensified effort by Allianz-owned Club Marine to grab a bigger share…
HIH judge sets witness deadline
10 March 2008
The NSW Supreme Court has given the HIH liquidator three weeks to provide a final list of key witnesses in its case against several companies and identities...
Cambridge beats CGU to key WorkCover contract
10 March 2008
Claims management provider Cambridge has replaced CGU to manage workers’ compensation for 1400 staff of the Victorian WorkCover Authority…