What policyholders want to know
27 March 2001
Thousands of HIH policyholders are using a telephone hotline set up by liquidators KPMG over the past week…
Local
Brokers, insurers earn praise
27 March 2001
NIBA Chief Executive Noel Pettersen has heaped praise on insurers and brokers who have worked long hours over to secure ongoing cover for HIH policyholders…
Agencies, brokers flat out after HIH collapse
20 March 2001
Underwriting agencies and brokers around Australia are scrambling to meet the sudden demand for coverage brought about by the collapse of HIH last Thursday night…
How they decided to fold
20 March 2001
The decision to place HIH into liquidation was taken by the company’s board last Thursday after consultants KPMG indicated the six-month loss to December 31…
APRA was ‘surprised’
20 March 2001
APRA Chief Executive Graeme Thompson was surprised by the size of HIH’s estimated $800 million half-year loss, as well as the speed with which it sought provisional liquidation…
Small insurers brace for a backlash
20 March 2001
Smaller insurers should expect a “backlash” from APRA as it sets out to restore its credibility in the wake of the HIH debacle…
Check your position, NIBA tells brokers
20 March 2001
NIBA has recommended that its members immediately seek independent legal advice on what they need to do to protect their own interests…
Gerling didn’t see crash coming
20 March 2001
The management of Gerling Australia, who formed a joint venture with HIH in December, were as surprised as anyone that the financial status of HIH deteriorated so quickly…
Morgan back at IAAA
20 March 2001
Murray Morgan has quit OAMPS a few weeks after joining the insurance group…
Search on for new RACV chief
13 March 2001
RACV Chief Executive Ted Johnson is retiring in a few months, and the hunt is already on for his replacement…
Online viruses causing concern
13 March 2001
Amazed by how easily and quickly computer viruses like “Anna Kornikova” and “the naked wife” got into your system? You should be…
Fake broker goes to jail
13 March 2001
ASIC continues to apply pressure on insurance brokers who aren’t toeing the legislative line. Among the latest developments – admittedly an extreme case - is the jailing in Melbourne…
Broker drops cancelled licence case
13 March 2001
Meanwhile,Town and Country Insurance Brokers of Dubbo has withdrawn its appeal against its suspension by ASIC…
NIBA worries at bad publicity
13 March 2001
NIBA CEO Noel Pettersen has defended the reputation of brokers against a seemingly endless stream of negative media releases coming from ASIC…
Immobiliser campaign expands
13 March 2001
The Immobilise Now! Campaign, which encourages the owners of older vehicles to fit anti-theft electronic ignition immobilisers at relatively low prices, has moved on to NSW and the ACT…
Foot and mouth insurance unlikely
13 March 2001
Livestock and dairy farmers in Australia are worried about the foot and mouth disease outbreak in Europe. They should be, because most of them aren’t insured against…
Brokers warned over goodwill
13 March 2001
ASIC has called on brokers to take care with their annual returns. One major problem concerning the regulator’s bean-counters is the way intangible assets…
Pressure mounts on HIH
06 March 2001
HIH is still struggling to form its own understanding of exactly what its financial position is, while having to withstand unwelcome sniping from the sidelines…
S&P's downgrades HIH
06 March 2001
Not unexpected was the announcement by Standard & Poor’s last week that it has downgraded HIH’s “core operating entities” from BBB+ to BBB-, with a negative creditwatch…
WA brokers merge
06 March 2001
Three Western Australian brokers have combined their operations to form a company that they hope will allow them to grow faster and bigger in the relatively static WA market…