Insurers can manage La Nina claims: analysts
07 December 2020
The active La Nina weather pattern could last until autumn, but insurers will be able to deal with any influx in claims, analysts say...
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Businesses urged to focus on risks in tough market
07 December 2020
Businesses need to step up their focus on resilience and mitigation as prices continue to rise and terms tighten, specialist insurer FM Global says...
Decision awaited on Federal Court Victorian BI case
07 December 2020
A Federal Court decision on a Vero business interruption exclusion dispute brought by a Melbourne cafe and restaurant could be delivered this month or early next year...
ANZ credit insurance customers informed of class action
07 December 2020
More than 440,000 customers have been notified by the Federal Court they may be eligible to join a consumer credit insurance class action against ANZ in which QBE is named as one of the respondents...
In the December/January edition of Insurance News magazine
07 December 2020
Like a catastrophic love affair, 2020 altered our lives and try as hard as we might not to look back on it, we won’t be able to help ourselves...
Waiting, waiting: affordability report on Treasurer’s desk
07 December 2020
Insurers will have to wait a little longer to read the Australian Competition and Consumer Commission’s final report on insurance in northern Australia...
New climate report urges industry to act on oil and gas
07 December 2020
Climate change activists have pressed insurers to cease underwriting oil and gas businesses, saying fossil fuels combined account for 55% of global carbon emissions...
Industry profits fall as COVID, natural disasters dent earnings
30 November 2020
Bushfires and other costly natural disasters from last summer plus the fallout from COVID-19 on financial markets have significantly affected general insurance earnings, the Australian Prudential Regulation Authority says...
Actuaries call for government action on affordability issues
30 November 2020
The Actuaries Institute says “temporary and targeted government intervention” is needed to help manage the issue of insurance affordability, with households in up to 12% of Australian postcode areas facing pressure in meeting annual premiums...
Key managers leave ICA after restructure
30 November 2020
Several key executives will leave the Insurance Council of Australia, following a strategic review...
BI claims certainty ‘some time’ away: AM Best
30 November 2020
Clarity over business interruption claim impacts as a result of the COVID-19 pandemic is likely to be “some time off” as legal battles continue over wordings and other considerations, AM Best says...
NSW on bushfire alert as above-normal fire potential looms
30 November 2020
Several bushfires have broken out in parts of NSW, prompting the Rural Fire Service to issue advice alerts in a number of areas, including two that are burning west of Sydney today...
Insurance News launches podcast service
30 November 2020
Detailed discussion of the NSW Court of Appeal ruling on the COVID-19 business interruption test case is featured in the first edition of INsight, the new Insurance News podcast...
Natural disasters? No worries, say Kiwi SMEs
30 November 2020
Small businesses in New Zealand are more concerned about cyber attacks, managing cashflow and retaining staff than natural disasters, even after a decade of destructive earthquakes and floods...
Sustainability Roadmap seeks to cut emissions
30 November 2020
A “roadmap” developed by the Australian Sustainable Finance Initiative has called on members to facilitate a transition to net-zero emissions by 2050 and to take steps to boost resilience...
ICA holds inaugural building code roundtable in Canberra
30 November 2020
The Insurance Council of Australia hosted the first of a series of Building Stronger Homes Roundtables last week, exploring the role of construction standards in national natural disaster resilience...
Victoria, Queensland join cladding class actions
30 November 2020
Litigation funder Omni Bridgeway says the Victorian and Queensland governments have given their consent to join two separate cladding class actions it is pursuing in the Federal Court...
ICA considers next legal steps on BI pandemic cover
23 November 2020
The Insurance Council of Australia is considering legal action on two fronts following the NSW Court of Appeal test case decision last week that found in favour of policyholders on business interruption pandemic exclusions...
S&P says BI ruling won’t mar industry’s growth
23 November 2020
Australia’s general insurance industry is still on track to achieve “a good, solid return” despite losing the business interruption test case heard last month in the NSW Court of Appeal, S&P Global Ratings says...
Federal court sets date for casino group’s BI hearing
23 November 2020
The Federal Court has listed two days of hearings from April 29-30 to address the question of the “making of a declaration of indemnity” in the business interruption lawsuit filed by The Star Entertainment Group against Chubb and other insurers...