NZ records costliest severe weather year
01 March 2021
New Zealand has experienced its costliest year for severe weather insured losses, with claim payments hitting a record $NZ248 million...
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ICA to host forum to appease frustrations after Halloween hailstorm
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...
General insurance GWP forecast to grow 5% a year
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...
Capacity crunch hits construction sector
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...
States should share disaster impact assessment data: ICA
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...
ICA ends support for Warragamba Dam wall plan
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...
ICA, NIBA Facebook pages unaffected by removal of news
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...
New earthquake fault 130km from Auckland to be studied
22 February 2021
A newly discovered fault line which is just a 90-minute drive from Auckland is to be examined in a project funded by the Earthquake Commission to determine its quake risk...
Proposed new broker code highlights remuneration transparency
15 February 2021
The National Insurance Brokers Association is seeking feedback on proposed Code of Practice changes that include greater remuneration transparency ahead of the expected release of a finalised document later this year...
SME unease deepens as Victoria locks down again
15 February 2021
The reintroduction of stage four restrictions in Victoria has rattled the confidence of general insurance brokers and their clients and prompted calls for government assistance measures to be ramped up...
Marsh warns on more COVID-19 exclusions
15 February 2021
Continuing litigation related to the COVID-19 pandemic could prompt more liability insurance exclusions, Marsh warns in an Australian market recap...
Man who broke leg while walking dog can claim workers' comp
15 February 2021
A worker who slipped on a wet log while walking his dog around a lake in Tasmania and broke his left thigh bone has won a workers’ compensation claim dispute...
NZ trialling low-cost earthquake early warning system
15 February 2021
New Zealand is set to trial a low-cost community-based earthquake early warning system that could lead to a broad network of internet-linked sensors...
ICA launches its own review of insurance problems
08 February 2021
The Insurance Council of Australia is undertaking its own review of affordability and availability issues following a number of other inquiries that have identified coverage problems for some consumers and businesses...
WA fires under control after 86 homes lost
08 February 2021
A WA bushfire that destroyed 86 homes near Perth and caused insurance losses of more than $40 million was brought under control at the weekend...
Affordability of fire prevention ignored ‘at our peril’
08 February 2021
Academics at the University of Tasmania have published a series of thought-provoking articles exploring the role of affordability in Australia’s bushfire management...
Insurance pricing a key signal in shift to low carbon: ICNZ
08 February 2021
The pricing of risk by insurers helps to expose unsustainable practices and provides a crucial signal for all stakeholders in helping drive the move toward a low carbon economy, the Insurance Council of New Zealand says...
La Nina past peak, over by autumn
08 February 2021
The influence of La Nina on atmospheric and oceanic patterns in the tropical Pacific has likely peaked, though above average rainfall in eastern and northern Australia is expected to persist into early autumn, particularly over northern Queensland...
Halloween hailstorm losses hit $1.3 billion
08 February 2021
Zurich catastrophe data company Perils has estimated property and motor insurance losses from October’s “Halloween” hailstorms in Queensland at $1.3 billion...
Hail risk often overlooked: Axa XL
08 February 2021
Hailstorms are often overlooked as a serious peril risk but the catastrophe that hit Brisbane last October has again demonstrated just how costly and destructive these weather hazards can be, according to Axa XL...