Cyclone pool passes House of Representatives
21 February 2022
The cyclone reinsurance pool legislation passed the House of Representatives last week as the Northern Australia Insurance Lobby also urged a smooth passage through the Senate...
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Insurer employee fraud case adjourned until April
21 February 2022
A former employee of a Sydney-based insurance company will next appear in court in April charged with offences in relation to a $730,000 fraud...
Government insurer offers tender opportunity
21 February 2022
The Defence Service Homes Insurance Scheme is seeking expressions of interest from potential industry partners to work on software solutions and management and administration services...
BI test case decision awaited after time change
21 February 2022
The Full Court will deliver an appeals decision on the Insurance Council of Australia second covid business interruption test case later this afternoon after the judgment was rescheduled from this morning...
No immediate relief from claims inflation, Xceedance says
21 February 2022
Insurance consulting firm Xceedance says claims inflation, currently a major issue for the insurance industry, may potentially worsen if a new disruptive covid variant emerges...
WTW says construction rates 'may soon stabilise'
21 February 2022
Rates for construction lines of businesses including professional indemnity (PI) insurance “may soon stabilise” for insureds with well-presented risks, according to broker WTW...
Wettest spring since 2010: climate index
21 February 2022
A quarterly climate tracker from the Actuaries Institute shows Australia experienced its wettest spring since 2010, based on data collected by the Bureau of Meteorology...
Industry premiums on course to reach $100 billion mark
14 February 2022
Direct written premium in Australia is projected to reach nearly $100 billion by 2026 but it may not necessarily lead to better profitability for general insurers because of pressure from natural catastrophe losses, according to GlobalData...
Preliminary hearing on BI class actions set for April
14 February 2022
The Federal Court has scheduled a case management hearing regarding four business interruption class actions for April as insurers and policyholders await the outcome of an industry test case on claims lodged during the pandemic...
ICA to target complex regulation post Hayne
14 February 2022
The Insurance Council of Australia will prepare a comprehensive paper on the need for a modern and efficient regulatory system in the wake of a plethora of reforms, as it prepares for a potential financial system inquiry...
'Significant' opportunity for insurers as drone usage rises: Clyde & Co
14 February 2022
Law firm Clyde & Co says “significant emerging” opportunities lie in store for insurers as commercial uses of drones, known also as unmanned aerial vehicles, rise in Australia and globally...
Ombudsman kicks off natural disaster inquiry feedback tour in Townsville
14 February 2022
Australian Small Business and Family Enterprise Ombudsman Bruce Billson will today hold the first of many community feedback sessions as part of his inquiry into natural disaster preparedness and resilience...
Bushfires raze more WA homes as hot weather continues
14 February 2022
Severe fire danger weather has continued in WA after more homes were destroyed in the past few days as blazes were ignited by lightning...
Homeowners to see 'up to 46%' discount from pool
07 February 2022
Homeowners in northern Australia with the most acute insurance cost pressures should see premium discounts of up to 46% as a result of the cyclone reinsurance pool, the Federal Government said today ahead of introducing legislation into Parliament...
Australia commercial rate increase slows in Q4
07 February 2022
Commercial rates in Australia and the wider Pacific market went up 13% in the fourth quarter last year, following a 17% rise in the preceding three-month period, according to Marsh’s Global Insurance Market Index...
Homes destroyed in WA bushfires
07 February 2022
Emergency services are continuing to battle bushfires in WA after several homes and other structures were destroyed on the weekend...
Perils maintains billion-dollar loss estimate for October SA storms
07 February 2022
Catastrophe data company Perils has maintained its initial estimate for losses totalling $1.028 billion three months after severe storms swept across three states in one of the costliest natural catastrophes ever for SA...
Kate Tod appointed Chief Readiness Officer at EQC
07 February 2022
New Zealand’s earthquake Commission has promoted Kate Tod to the role of Chief Readiness Officer after the departure of Josh Lindsay after 11 years...
Australia execs fear cyber risk most: survey
31 January 2022
Failure of cyber security measures and extreme weather events are the first and second biggest worry for Australian executives, according to the World Economic Forum annual Global Risks Report...
Another level of news: The Broker set for launch
31 January 2022
On Thursday this week insuranceNEWS.com.au will launch a specialised newsletter packed with updates and analysis specifically for insurance brokers...