Cyber crooks ranked as top Australian risk
12 October 2020
Cyber attack is the biggest business risk in Australia, according to an annual World Economic Forum survey of leaders...
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Region’s motor premium tipped to keep growing
12 October 2020
The motor insurance market in the Asia-Pacific is poised to grow to $US257.8 billion by 2023, up $US30.7 billion from last year, supported by new vehicle sales to a rapidly growing middle-class population, GlobalData says...
Appeal judges adjourn to consider business interruption decision
05 October 2020
The NSW Court of Appeal Full Bench has adjourned to consider its decision following a test case hearing on business interruption policy exclusions that cite repealed legislation...
Intermediaries place $11.5 billion
05 October 2020
General insurance intermediaries placed about $11.5 billion of premium in the June half, according to an update from the Australian Prudential Regulation Authority (APRA)...
Cyclone, flood risks rise as La Nina declared
05 October 2020
Australia could see increased cyclone activity this season and a greater risk of flooding as a result of a La Nina climate event and influences in the Indian Ocean...
ICNZ probes car parts ‘misrepresentation’
05 October 2020
New Zealand insurers have launched an investigation into a car parts supplier that has been “misrepresenting” car parts to repairers...
NZ ombudsman says BI legal challenge unlikely
05 October 2020
The New Zealand Insurance & Financial Services Ombudsman has received around 230 complaints and inquiries related to COVID-19, including regarding business interruption but says legal action related to the cover is unlikely...
COVID drives home mental health challenges: Allianz
05 October 2020
An expected rise in workers’ compensation mental health claims due to the COVID-19 pandemic, and greater focus on the issue during the outbreak, should act as a catalyst for improvements, Allianz says...
Low premium volumes to hit NZ insurers
05 October 2020
A coronavirus-induced recession in New Zealand will see a reduction in insurance premium volumes as customers reduce costs, hitting personal lines and commercial SME classes the hardest...
Hard market, pandemic increasing challenges: Gallagher
28 September 2020
Hard market conditions and the impacts of the coronavirus outbreak are presenting challenges for businesses seeking renewed or expanded insurance cover, Gallagher says in a fourth quarter report...
Travel insurance premiums ‘in negative territory’
28 September 2020
Travel is the insurance line suffering most from the COVID-19 pandemic, according to the annual Radar report from actuaries Taylor Fry...
Casino BI lawsuit: insurers say COVID was excluded
28 September 2020
Chubb and other insurers have filed a concise statement to the Federal Court outlining the reasons why The Star Entertainment Group’s claim for business interruption losses was denied...
FM Global warns against risk management cutbacks
28 September 2020
Businesses must not put off risk management processes to save cash during the COVID-19 pandemic, insurer FM Global warns...
Restrictions spark dramatic decline in vehicle theft
28 September 2020
The coronavirus pandemic and associated restrictions have led to a significant decline in vehicle theft...
Finity sees merit in government-backed pandemic cover
28 September 2020
A government-back insurance solution for pandemic risk would have merit for a number of reasons, Finity says in a report for the Insurance Council of Australia...
Beaten only by the banks: insurance records 15,665 complaints
28 September 2020
The Australian Financial Complaints Authority received 15,665 disputes involving general insurers in the last financial year, second only to banks who had 28,176 cases filed against them...
Natural hazard risk past tipping point, royal commission told
28 September 2020
The escalating risk from natural hazards anticipated for years in Australia is now manifest and is outstripping the nation’s preparedness to manage the fallout, a Royal Commission hearing was told last week...
UK test case findings have implications for local insurers
21 September 2020
Herbert Smith Freehills, which represented the Financial Conduct Authority in the UK business interruption test case, says there are implications from the decision for the Australian market...
Fake claims tipped to rise as recession pain deepens
21 September 2020
Industry stakeholders in New Zealand have warned of a likely increase in fraudulent insurance claims as the coronavirus recession drags on...
Early COVID fatalities ‘probably not accounted for’
21 September 2020
The Actuaries Institute believes some COVID-19 deaths from the first wave of the pandemic may not have been accounted for because testing for the virus was not widespread at that time...