‘Long overdue’ flood levee may slice 27% from city’s premiums
19 October 2020
A $42.5 million commitment by the Queensland Government to build the East Bundaberg Flood Levee will likely reduce local property premiums by 10-27%...
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Local start-up launches global cyclone risk model
19 October 2020
Sydney-based start-up risk modeller Reask has released a new unified tropical cyclone model which it says is the “next phase” of catastrophe risk assessment and offers insurers natural hazard risk solutions without geographic limitations...
Weather bureau predicts more cyclones as La Nina arrives
12 October 2020
The Bureau of Meteorology expects an average of 11 tropical cyclones for the upcoming season in Australia, which starts next month and finishes in April...
Post-pandemic insurance ‘flexible, customer-focused’
12 October 2020
Gallagher Bassett says insurance will need to be more flexible, customer-centred and intelligent once the COVID-19 pandemic has passed...
In the latest edition of Insurance News magazine
12 October 2020
The October/November edition of Insurance News magazine is on its way to subscribers’ mailboxes this week, with articles that look at the myriad issues being faced by the industry this year...
Queensland’s strata insurance in focus as election nears
12 October 2020
The Strata Community Association in Queensland has stepped up its campaign for action on affordability and availability of cover in cyclone-prone areas ahead of the state election at the end of the month...
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...
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adjourned to consider its decision following a test case hearing on business interruption policy exclusions that cite repealed legislation...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...