Premium reductions not as severe
30 January 2007
The commercial insurance market is continuing to soften, with most classes experiencing rate reductions of 1-9%, but insurance brokers say the falls are generally less severe…
Local
Long, dry summer poses threats for insurers
30 January 2007
Australia’s formidable summer – with severe bushfires, hailstorms and the worst drought in many years – has led to additional pressures on insurers…
Industry good times roll on
30 January 2007
The industry is enjoying favourable conditions despite an increase in competition, according to quarterly industry figures released by the Australian Prudential Regulation Authority…
Claimants complain more, insurers win more
30 January 2007
The number of disputes over personal lines insurance is on the rise, but the Insurance Ombudsman Service reports that more of its decisions are going the underwriters’ way…
Federal Government backs tort reform
30 January 2007
In a blow to the legal fraternity’s push for tort reforms to be wound back, the Federal Government has applauded state and territory governments for ensuring liability premiums…
Brokers’ code makes its debut
30 January 2007
The new Insurance Brokers Code of Practice has come into effect with strong support from all stakeholders and no teething problems reported…
Home underinsurance tackled
30 January 2007
Since the 2003 Canberra bushfires destroyed 488 homes and revealed up to 40% of claimants were underinsured, home insurers across Australia have improved their policies…
Reprimand for James Hardie actuary
30 January 2007
The Institute of Actuaries of Australia will reprimand David Minty, an actuary employed by James Hardie Industries, for two breaches of its code of conduct…
Immobilising car theft
30 January 2007
Less than 10 years ago Australia’s car theft industry was a serious pain to insurers and police…
Expect more takeovers in 2007
12 December 2006
The Australian insurance industry looks set to experience further consolidation in the coming year…
Brokers lead the way
12 December 2006
Brokers are increasing their share of the insurance distribution markets in commercial and personal lines…
Insurers offer disaster advice
12 December 2006
As Victorians continue to fight some of the worst bushfires in the state’s history, insurers are readying themselves for an influx of claims…
ICA bids farewell to IDRO
05 December 2006
New plans by the Insurance Council of Australia for the co-ordination of catastrophe arrangements will result in the disbanding of the Insurance Disaster Response Organisation…
ACC keeps rates steady
05 December 2006
New Zealand’s accident compensation provider has maintained its employer contribution levy for 2007…
CGU defends the 1 cent scandal
05 December 2006
CGU Insurance says it has sorted out the customer dispute that made unwelcome newspaper headlines last week…
Government limits Comcare claims
05 December 2006
The Federal Government is introducing reforms to workers’ compensation under Comcare that will limit claims…
Mulcahy to lead ICA
28 November 2006
It’s been a relatively quiet week in insurance…
Insurers escape Blue Mountains fire
28 November 2006
The NSW Rural Fire Service is continuing to control a bushfire that has burned out more than 15,000ha of public and private land in the Blue Mountains…
Insurance doubt over Tonga riots
28 November 2006
Businesses in the Tongan capital of Nuku’alofa face a long road to recovery after the destructive riots that took place on November 16…
NRMA urges parents to teach driving
28 November 2006
Professional driving instructors play an important role in teaching children to drive but parents must also bear some responsibility…