Funeral insurance under fire from NZ consumer group
27 July 2020
Consumer NZ says funeral insurance is “overhyped and oversold” and recommends New Zealanders set up a savings account to fund their service instead...
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Disaster research funding ‘pivotal for resilience’
27 July 2020
Long-term funding for natural hazards research “plays a pivotal role” in improving disaster resilience, Emergency Management Minister David Littleproud says, prompting the Government to commit to a new research centre while last summer’s bushfires “linger in the national psyche”...
Law firm salutes industry’s ‘resilience’ after clarifying commentary
20 July 2020
The insurance industry has shown resilience through the COVID-19 pandemic and stark predictions of business collapses have “not yet come to pass”, a law firm has stated in a clarification of previous comments...
General insurers ‘better placed’ to handle pandemic claims
20 July 2020
The premium earnings dominance of Australian general insurers over their life insurance peers will reduce the sector’s potential claims exposure to the virus pandemic, according to London-based analyst GlobalData...
Finity calls for targeted subsidies instead of Medicare-style pricing
20 July 2020
So-called “targeted subsidies” may be needed to address the challenge of higher premiums in bushfire-risk areas as climate change takes hold, Finity says in a blog post...
Rainy days may be forerunner to a La Niña
20 July 2020
A below-average run of consecutive dry days in autumn across much of Australia could be a forerunner to a return of La Nina conditions, according to the latest Australian Actuaries Climate Index...
Australia ‘ripe for driverless vehicles’
20 July 2020
Australia is steadily developing a supportive environment for driverless cars, ranking 15th – a notch below Germany – among 30 countries assessed by KPMG for their readiness for autonomous vehicles...
Insurtech Gateway eyes pay-as-you-drive motor line
20 July 2020
Insurtech Gateway Australia is planning a pilot launch of a pay-as-you-drive motor insurance product next January, as the London-based insurance incubator looks to shake up the market here...
‘Fuzzy logic’ aims for better earthquake modelling
20 July 2020
New Zealand’s Earthquake Commission is funding research that promises better models to predict future multi-fault earthquakes...
Broker survey uncovers scale of renewals challenge
13 July 2020
Catastrophe claims combined with the disruption of the COVID-19 pandemic have created the most difficult insurance market conditions for almost two decades, brokers say – and there’s no immediate end in sight...
Leaders hit back over 'failing businesses' claim
13 July 2020
General insurance industry leaders have rebutted a law firm’s claim that insurance businesses will collapse as a result of COVID-19 pandemic claims, disruption and associated global recession...
Hackers using 'big game hunting' tactics to target businesses
13 July 2020
Digital criminals are stepping up their attacks on businesses using a new tactic described as “big game cyber hunting” to extort ransom from victims, law firm Clyde and Co says...
Early start expected for East Gippsland fire season
13 July 2020
East Gippsland’s fire season could start early for a third straight year due to persistent dry conditions, the Bushfire and Natural Hazards Co-operative Research Centre’s latest outlook says...
Only car and home insurance considered essential: survey
13 July 2020
Car and home and contents insurance are the only risk products considered as essential by domestic policyholders, according to a KPMG survey of 1500 consumers...
Brokers code committee launches new website
13 July 2020
The Insurance Brokers Code Compliance Committee has launched a new website today that it hopes will improve standards in the broking industry...
Reinsurers raise prices at Australian renewals
06 July 2020
Double-digit reinsurance price increases were seen for loss-hit catastrophe insurance programs in Australia at recent renewal negotiations with reinsurers, Willis Re says...
'We do pay claims': Chubb responds to TV attack
06 July 2020
Chubb has reiterated its reputation for claims excellence after a damaging program on national television...
ICA names BT’s Sue Houghton interim president
06 July 2020
The Insurance Council of Australia says BT Financial Group GM Insurance Sue Houghton will serve as interim President until a board meeting at the end of the month...
Family violence support move ‘a step in the right direction’
06 July 2020
The industry’s move to have in place measures to support customers who are facing domestic violence through new provisions to its revamped code of practice is a step in the right direction, according to consumer advocates...
NSW Government sued over Opal Tower’s building defects
06 July 2020
The owners of Opal Tower have launched a class action against the NSW Government, seeking compensation for new defects found in the building...