ICA website, logo gets a makeover
17 May 2021
The Insurance Council of Australia has unveiled a fresh look with new branding and a thorough overhaul of its website, showcasing the “bold colours” found in Australia’s landscape...
Local
Data breach defences prove key cyber concern
17 May 2021
Businesses are often not sure their data breach response plans meet requirements despite a continuing escalation in cyber threats, a Gallagher Australia report has found...
Caravan parks hard hit by Hawkesbury flood catastrophe
17 May 2021
Caravan and water ski parks were hard hit by the Hawkesbury River flooding in March with extensive damage caused and some operators saying warnings were inadequate, Risk Frontiers says...
Allianz add-on move puts spotlight on AFCA
17 May 2021
A decision by the Australian Financial Complaints Authority not to look into car dealer add-on insurance cases against Allianz pending the outcome of a class action against the insurer has shed further light on how such disputes may be handled...
Consumer groups say NIBA code needs more work
17 May 2021
The Consumers’ Federation of Australia says the National Insurance Brokers Association draft code of practice, released with a discussion paper, “needs substantial work” if it is to become a benchmark for others...
Financial Rights says cyclone pool doesn't solve problems
10 May 2021
The Financial Rights Legal Centre has warned the reinsurance pool announced last week for northern Australia may not deliver significant premium reductions and offers no assistance for those exposed to natural catastrophes in other parts of the country...
'Major' D&O, PI claims pushing up financial lines rates: Marsh
10 May 2021
Financial and professional rates in the Australia-led Pacific region surged 48% in the first quarter, the highest out of three commercial product classes tracked by Marsh’s price tracker...
UK actuary flags idea to 'insure the uninsurable'
10 May 2021
An actuary with the Financial Reporting Council, a UK regulator, has suggested there may be a way for the insurance industry globally to underwrite pandemics, wars and other uninsurable risks as well as black swan events...
ICA appoints IAG, Munich Re, Chubb executives to board
10 May 2021
The Insurance Council of Australia has added IAG CEO Nick Hawkins, Munich Re Australasia MD Scott Hawkins and Chubb Country President Peter Kelaher to its board...
Perils puts NSW, Queensland flood losses at $1.06 billion
10 May 2021
Zurich-based catastrophe data company Perils has put its initial insured loss estimate for the NSW and Queensland flooding catastrophe at $1.06 billion...
Bushfire costs to rise as winter rainfall skips Australia
10 May 2021
Australia faces drier conditions and an increased risk of extreme bushfires peppered with bouts of intense rainfall and floods during severe La Nina phases, representatives from Chubb and Suncorp told attendees at this year’s Actuaries Summit...
Liberty Mutual 'evaluating alternatives' for Queensland coal mine
10 May 2021
US insurer Liberty Mutual has confirmed it will not be lodging an environmental impact statement for a Queensland coal mine project that it owns through subsidiary Liberty Metals and Mining Holdings...
Disclosure debate continues as major reform nears
03 May 2021
The Insurance Council of Australia says the upcoming abolition of the duty of disclosure for consumer insurance contracts will bring “clarity and certainty” – but warns insurers will still be able to deny claims if customers provide inaccurate information...
Reinsurance pool announcement ‘imminent’
03 May 2021
A cyclone reinsurance pool for northern Australia is expected to be announced by the Federal Government within days, insuranceNEWS.com.au understands...
Class action investigations continue despite BI test cases
03 May 2021
Legal firms are continuing their investigations into potential class actions over business interruption cover despite Insurance Council of Australia test cases that aim to bring clarity over key issues...
Draft broker code sparks call for improvement
03 May 2021
A draft version of the next broking code of practice requires a further overhaul to effectively drive higher standards, the Code Compliance Committee says...
Amusement operator body taps Aon to help with mutual fund
03 May 2021
The non-profit Australian Amusement Leisure and Recreation Association has asked broker Aon to help the industry set up and run a discretionary mutual fund, according to an email to its members last week...
NRMA Insurance runs bushfire-resilient house design initiative
03 May 2021
NRMA Insurance has teamed up with Shoalhaven City Council to help bushfire-affected Australians recover faster via access to a free design for homes that are resilient, sustainable, affordable and adaptable...
Court trial dates set for JLT municipal class actions
26 April 2021
Court dates have been set for local government class actions launched against JLT in both NSW and Victoria...
New broker cluster group garners ‘widespread support’
26 April 2021
A new broker cluster group formed exclusively for Australian independent brokers has been widely welcomed, the founder says...