Cyclone pool non-disclosure rules frustrate consumers
12 September 2022
Cyclone pool non-disclosure terms are frustrating consumers as they continue to seek more information over likely benefits from the scheme...
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Climate risk consultancy outlines global warming fallout on insurance, property values
12 September 2022
Climate risk consultancy Climate Valuation says property values can “expect to take a hit” because of global warming, with “direct” implications also for premium affordability...
Rising sea levels trigger falling house prices
12 September 2022
Home prices in flood-prone areas are set to fall as climate change influences Australia’s property market values, an RMIT University academic says...
Clear laws, 'threat actor' consequences needed on ransomware
05 September 2022
Clearer Australian laws and international co-operation to act against criminals are among measures needed in response to the rising threat from ransomware, Kennedys Partner and cyber insurance law specialist Nicholas Blackmore says...
Submission seeks longer visas for offshore loss adjusters
05 September 2022
The Australasian Institute of Chartered Loss Adjusters is urging that the government extend temporary work visas allocated to overseas insurance loss adjusters after catastrophes to a minimum of six months...
Dive In festival helps insurers attract best talent, Lloyd's says
05 September 2022
The insurance industry’s Dive In diversity and inclusion festival, now in its eighth year, helps create an environment that attracts the best talent from broader backgrounds, Lloyd’s says...
Drone risk an overlooked opportunity for insurers, DroneShield says
05 September 2022
Insurers should consider offering a dedicated policy meeting direct costs from drone disruptions, particularly for venues and firms that take measures to minimise the threat, ASX-listed DroneShield says...
Bureau says La Nina alert remains in place
05 September 2022
The Bureau of Meteorology’s latest El-Nino Southern Oscillation outlook continues to project a 70% chance for La Nina...
Industry overcomes 'adverse' weather claims to achieve marginal profit rise
29 August 2022
The industry squeezed out a 0.3% rise in net profit to $924 million, as stronger underwriting earnings from increased rates helped offset “adverse” weather-related claims and investment losses, according to Australian Prudential Regulation Authority data...
Academics say disaster claims handling may not meet industry code
29 August 2022
Melbourne Law School academics say interviews with unsatisfied claimants raise questions about whether insurer claims handling following severe weather is consistent with General Insurance Code of Practice requirements...
Insurers to hold another round of meetings with flood policyholders
29 August 2022
The Insurance Council of Australia has arranged another round of meetings in the coming weeks for flood-impacted communities in NSW and south-east Queensland to discuss claims with insurers...
NSW, Queensland face 'unusually high' spring rainfall
29 August 2022
NSW and Queensland are poised to receive unusually high September-November rainfall ranking in the top 20% of all springs on record, the Bureau of Meteorology says...
First premium funders code promotes clarity, higher standards
29 August 2022
The first insurance premium funding code of practice will take effect from the start of October, promoting increased transparency and disclosure on pricing and a culture of professionalism...
Choice survey highlights increased home insurance cost concerns
29 August 2022
A survey from consumer advocate group Choice indicates a record number of Australians are concerned about rising home insurance prices...
‘Cornerstone of our advocacy’: ICA, actuaries demand mitigation
22 August 2022
Australia’s financial, social and health costs could be slashed by at least $19 billion by 2050 with better investment in resilience to counteract a rise in extreme weather, the Insurance Council of Australia says...
Bureau issues La Nina alert
22 August 2022
The Bureau of Meteorology warns there is now a 70% chance that a third La Nina in a row will develop this year...
Lobby group proposes wider net for cyclone pool collections
22 August 2022
The Australian Consumers Insurance Lobby says collecting premiums from across the country could deliver the cost benefits required from the Federal Government’s cyclone reinsurance pool...
IAG promotes resilience action as NZ faces floods clean-up
22 August 2022
IAG New Zealand has put forward an action plan to better prepare for future flooding as communities assess damage to homes after severe weather crossed the country last week...
EQC-funded research highlights insights on Kaikoura quake
22 August 2022
New research into the impact of the 2016 Kaikoura earthquake has provided engineers with vital information to help reinforce infrastructure design...
Property cover among top five small business product complaints
15 August 2022
Commercial property insurance was among the top five products that small businesses complained about last financial year, the Australian Financial Complaints Authority says...