Cyber threat takes out this year’s ‘top worry’ gong
26 April 2021
The unprecedented hardening of the Directors’ & Officers’ insurance market has put cyber risk front of mind for Australia’s executives, new research from Willis Towers Watson shows...
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D&O market shows ‘emerging signs’ of stability: Aon
26 April 2021
Aon says upward pressure will remain on directors’ and officers’ rates for the rest of the year but believes signs of stability have emerged, giving rise to “cautious optimism” that the stressed market may be on the mend...
Australian GDP in jeopardy as world heats: Swiss Re
26 April 2021
Climate change will slice a large chunk from Australia’s economy by 2050 unless swift action is taken, detailed stress-test analysis by Swiss Re projects...
Queensland hailstorm insured losses finalised at $839 million
26 April 2021
Zurich-based catastrophe data company Perils has finalised its insured loss estimate of the central Queensland hailstorms in April last year at $839 million, up 39% from its previous calculations...
Steadfast tool rates risk from storm surge, flood zones
26 April 2021
Australians can assess the risk their individual property faces from storm surge, tsunami or floods using a new online assessment tool provided free of charge by Steadfast Group which helps to calculate individual insurance needs...
Most consumers satisfied with general insurance providers: Roy Morgan
26 April 2021
A Roy Morgan survey has found 82% of general insurance customers are satisfied with their providers, with personal lines insurance brands run by mutual motoring bodies leading the way...
Underwriting margins in focus as low interest rates persist: Fitch
19 April 2021
Australian general insurers, like their peers in the Asia Pacific region, will be looking to strengthen their underwriting earnings to make up for dwindling investment returns caused by the persistent low-interest rate environment, according to Fitch Ratings...
More claims received as industry counts cost of Seroja
19 April 2021
Insurers have received some 2149 claims for losses from Cyclone Seroja, the Insurance Council of Australia says...
NSW March rain sets new records
19 April 2021
The saying slow as a wet week took on a whole new gravitas last month as the NSW coast experienced its wettest seven-day period since national daily records began in 1900...
‘Ravaged’ Australia’s policy makers must heed climate warnings
19 April 2021
Australia’s decision makers must not ignore the warnings of unprecedented bushfires, droughts, and floods which have ravaged the country in recent years, says a new report entitled Aim High, Go Fast: Why Emissions Need to Plummet this Decade...
Resilient home prototype tested for cyclones, bushfires
19 April 2021
Suncorp has partnered with CSIRO, James Cook University and architects to test a prototype disaster-resilient house as they seek to persuade homeowners to spend on features that help properties withstand cyclones, floods and bushfires...
Settlement reached on A Current Affair lawsuit
19 April 2021
Details of a defamation settlement between former GSA Insurance Brokers Chairman John Hewson and A Current Affair remain confidential after agreements were reached ahead of a Federal Court hearing set for last week...
Travel insurers navigate ‘uncertainty and limitations’ as NZ bubble opens
19 April 2021
As hundreds of passengers enjoy international flights today for the first time since the start of the pandemic, travel insurance will need to be more flexible and offer clear and transparent coverage that minimises misunderstandings, Gallagher Bassett says...
Industry concerned over risk exposure to vaccine rollout
19 April 2021
Medical insurers have reached out to the Federal Government seeking an “iron clad” assurance that there is an indemnity plan to cover for potential claims and other fallout that may arise from the COVID vaccination program...
More Lloyd’s insurers walk away from Adani
19 April 2021
Lloyd’s underwriters Tokio Marine Kiln and ERS Insurance have signalled they will not have anything to do with the Adani Carmichael coal mine in Queensland, according to shareholder activist group Market Forces...
QBE pursues BI test case on Victoria issue
12 April 2021
QBE has launched its own test case in the Federal Court to test the impact of Victorian property laws on business interruption exclusions citing the Quarantine Act...
Ex-cyclone Seroja leaves trail of destruction in WA towns
12 April 2021
Homes, roads and other public infrastructure in WA’s mid-west coastal region suffered significant damage as storm Seroja made landfall as a category 3 tropical cyclone yesterday evening between the townships of Kalbarri and Northampton...
Northern Qld MPs confident on reinsurance pool
12 April 2021
Northern Queensland MP Warren Entsch says evidence of market failure in Australia’s north has increased the likelihood a reinsurance pool proposal will be supported in the next Federal Budget...
Intermediary premium rises to $14.85 billion in December half
12 April 2021
About $14.85 billion of premium was invoiced by general insurance intermediaries in the December half, up from $13.67 billion a year earlier, according to a regular update from the Australian Prudential Regulation Authority...
What’s in the latest edition of Insurance News magazine?
12 April 2021
Insurance Ombudsman John Price has spent 17 years adjudicating on disputed claims, and working with the insurance industry and consumer groups to build a process that emphasises fairness over what the mainstream media likes to call “fine print”. In the April/May edition of Insurance News magazine Mr Price looks back over the development of an independent claims review system...