Consumers welcome changed approach to draft NIBA code
15 November 2021
The Consumers’ Federation of Australia has welcomed a “substantial change in approach” in the revised National Insurance Brokers Association draft code of practice...
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Insureds reach price-hike limits after D&O increases
15 November 2021
Directors’ and officers’ (D&O) premiums may be reaching a ceiling as policyholders resist further increases after surges in recent years, a report by legal network Global Insurance Law Connect says...
ICA pushes for further progress on cross-border travel
15 November 2021
The Insurance Council of Australia is continuing to push for further action to speed movement of personnel across state borders after Emergency Management Australia changed its protocols...
Australia quake records may underplay risk: RMS
15 November 2021
The Victorian earthquake has highlighted the potential to underestimate risks in Australia due to its long seismic cycles and national data limitations, catastrophe modelling firm RMS says...
Few Kaikoura claims reopened under new EQC model
15 November 2021
An overhaul of claims handling introduced after New Zealand’s devastating Canterbury earthquakes has significantly improved outcomes, with 80% of claims from the 2016 Kaikōura earthquake settled and closed in the first year, the Earthquake Commission (EQC) says, and fewer than 5% reopened...
Greater resilience role proposed for rural co-operatives
15 November 2021
Governments should recognise and support the role of local co-operatives in improving natural disaster risk mitigation and resilience in rural communities, a report says...
BI pandemic cover appeals begin in Full Court
08 November 2021
The Full Court has this morning started hearing appeals related to business interruption claims triggered by the COVID-19 pandemic after initial Federal Court decisions mostly favoured insurers...
Report calls for transparency on mental health discrimination
08 November 2021
The Public Interest Advocacy Centre has called for more transparency from insurers in relation to their use of actuarial and statistical data...
Rising hail threat heightens recovery focus: Axa
08 November 2021
Improving hailstorm recovery processes has become more important given escalating risks and limited options for building owners to minimise the threat, Axa XL says...
Perils Halloween storms final estimate raises losses
08 November 2021
The Queensland Halloween hailstorms last year caused insurance losses of $1.22 billion, catastrophe data company Perils says in its final estimate for the event...
Dive In attracts record audience
08 November 2021
This year’s Dive In, the insurance industry’s diversity and inclusion festival, attracted its highest global audience to date, with 31,000 participants attending the three-day event from more than 100 countries...
Australian businesses fear cyber threat most: Aon risk survey
01 November 2021
Fears of a cyber assault have topped a biennial Aon risk list for the first time since the broker started its Global Risk Management Survey in 2007...
Australia rates growth continues to ease: Marsh index
01 November 2021
Overall commercial rates in the Australia-dominated Pacific market again grew at a slower pace in the third quarter but the cyber line bucked the trend, mirroring patterns seen globally, according to the latest Marsh price index...
Border reopening paves way for resumption of travel insurance sales
01 November 2021
Insurers look set to resume large-scale international insurance sales after the Federal Government removed its “do not travel” global advisory, more than a year after it was introduced after the COVID-19 pandemic was declared in March last year...
Wild weather triggers catastrophe declaration
01 November 2021
The Insurance Council of Australia has extended a catastrophe declared for SA following wild weather last week to include areas of Victoria and Tasmania affected by the same storm system...
Almost every season's weather since 2011 extreme
01 November 2021
Extreme high or low temperatures, high rainfall, strong wind or rising sea levels featured in all but one of Australia’s last 43 seasons, the Actuaries Institute says...
COVID sea/tree changers mindless of extreme weather
01 November 2021
Australians are relocating from urban areas to rural and coastal locations without consideration of the impact of natural disasters, Suncorp says...
AFCA promotes seven senior ombudsmen
01 November 2021
The Australian Financial Complaints Authority has appointed seven senior ombudsmen, a newly created role it says will enhance dispute resolution work...
Rebound expected after COVID set back: Optima
25 October 2021
Australian insurers’ profitability is set to improve this financial year, while remaining below targeted levels, after the COVID-19 pandemic wiped out a rebound expected in the prior period, the annual Finity Optima report says...
BI Full Court appeal set for next month
25 October 2021
The Full Court will hear appeals next month for some of the pandemic business interruption claim disputes that were part of a judgment delivered on the industry’s second test case...