15 March 2021
Australia’s CEOs and other executives routinely go against values stipulated in their own code of conduct and company value statements, driven by pay structures which reward short-term financial performance over the management of non-financial risk, a new study finds...
15 March 2021
The National Motor Vehicle Theft Reduction Council has called for vigilance in preventing theft following a coronavirus-driven slump in the number of vehicles stolen last year...
08 March 2021
Covert juggling of work and babies, rejecting low ball pay offers and educating colleagues that “I don’t have a wife at home that’s got everything done for me”...
08 March 2021
The Federal Court will next week hold a preliminary hearing for the Insurance Council of Australia’s second business interruption test case on wordings that underwriters say exclude claims related to COVID-19...
08 March 2021
The general insurance industry incurred underwriting losses in the December quarter and last year, squeezed by revised provisions for pandemic-related business interruption claims and the growing financial toll from natural catastrophes, the prudential regulator says in a new statistical report...
08 March 2021
Cyber crooks are evolving more sophisticated, three-pronged attacks to steal organisations’ funds, starting with data exfiltration and encryption, followed by extortion...
08 March 2021
New business owners may be exposed to potential insurance claims after an acquisition which are not covered by existing policies, Acacia Insurance warns...
01 March 2021
The Insurance Council of Australia’s second test case on business interruption cover may not bring clarity until well into next year given legal timelines and likely appeal processes...
01 March 2021
The Federal Court has set aside two days of hearings in April for the business interruption lawsuit that The Star Entertainment Group launched last year against Chubb and other insurers...
01 March 2021
Slater and Gordon says more than 750,000 people will today receive a Federal Court notice advising they may be eligible to be part of a consumer credit insurance class action against Commonwealth Bank...
01 March 2021
Australia’s property and casualty sector has been warned it faces a “bumpy” year as the industry attempts to address a raft of pressing challenges such as uncertainties stemming from two business interruption test cases...
01 March 2021
While 2020 was a year to forget, 2021 should be the year for finding answers. That’s the theme of the latest edition of Insurance News magazine, which is due to be mailed out later this week...
01 March 2021
Almost 9% of households in Victoria are at “very high” risk of climate hazards, with another 8% exposed to high risk – equating to $277 billion of property under threat, CoreLogic says...
01 March 2021
New Zealand has experienced its costliest year for severe weather insured losses, with claim payments hitting a record $NZ248 million...
01 March 2021
The Insurance Council of Australia will host a community forum in Brisbane’s Springfield Lakes this week as it acknowledges frustration over repair delays following severe hail on October 31...
22 February 2021
Australia’s general insurance industry will reach gross written premium of $98 billion in 2025, from $76.3 billion last year, supported by gradual economic recovery and growing demand for insurance against natural disasters, GlobalData predicts...
22 February 2021
The Australian construction insurance market is experiencing a shift to increased pricing, higher excess levels and more restrictive coverage after a spate of natural catastrophes and project failures, Marsh reveals...
22 February 2021
A government-funded advisory committee should be established to collate disaster impact-assessment data across states and territories, The Insurance Council of Australia says...
22 February 2021
The Insurance Council of Australia is no longer supporting a proposal to raise the height of the Warragamba Dam wall due to concerns about the impact on cultural heritage sites in the affected area...
22 February 2021
The Insurance Council of Australia and National Insurance Brokers Association say their communications were unaffected by a decision by Facebook to ban links to Australian news items last week...