ICA toils on industry-wide virus support measures
30 March 2020
The Insurance Council of Australia is continuing to work with member companies on industry-wide initiatives to help customers through the COVID-19 crisis...
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ICNZ announces 'core principles' on virus crisis
30 March 2020
The Insurance Council of New Zealand and its members have announced a set of "core principles" to support customers through the COVID-19 crisis...
It's not business as usual, ICA warns
30 March 2020
Claims, assessment and repair services are continuing but insurance customers should expect delays as the industry struggles under the dual weight of the COVID-19 pandemic and billions of dollars in claims from the summer catastrophes, the Insurance Council of Australia says...
Insurers halt landlord product sales as virus disrupts market
30 March 2020
Major insurers in Australia have suspended indefinitely the sales of landlord insurance products, citing uncertainties from the coronavirus outbreak...
Insurers activate continuity plans as virus outbreak drags on
30 March 2020
Australian insurers have moved to implement new work arrangements in response to the social distancing measures that are now in place to curb the spread of the coronavirus outbreak...
NZ insurers stay open as essential services
30 March 2020
New Zealand has declared insurers are an essential service and can remain open for business even under tough Level 4 restrictions aimed at slowing the spread of the deadly COVID-19 coronavirus...
Intermediaries achieve a $13.4 billion half-year
30 March 2020
Insurance intermediaries placed $13.4 billion of premium in the final half of last year, new data from the Australian Prudential Regulation Authority shows...
Summer cat losses hit $4.5 billion
30 March 2020
Total losses from catastrophes since the start of the last bushfire season have raced past $4.5 billion, according to the latest Insurance Council of Australia figures...
Mediation video opportunities open up
30 March 2020
Social distancing requirements due to the coronavirus outbreak could provide greater opportunities for insurers to be involved in personal injury mediations, lawyer Michael Lombard says...
Virus crisis: insurers 'must help businesses survive'
23 March 2020
National Insurance Brokers Association President Eric Harris has urged insurers and premium funders to "support communities" to ensure small businesses survive the coronavirus crisis...
Brokers anticipate virus fallout on sector
23 March 2020
The next few months could be very challenging for insurance brokers amid widespread fears the coronavirus outbreak will further damage Australia’s already fragile economy...
Finity expects COVID-19 industry impact
23 March 2020
The worsening coronavirus outbreak in Australia will impact the insurance industry, actuarial firm Finity has warned...
Summer catastrophe bill passes $3.5 billion
23 March 2020
Total insured losses from this summer’s fire, hail and flood catastrophes have passed $3.5 billion, according to the latest Insurance Council of Australia figures...
Bushfire losses batter the industry's profitability
23 March 2020
Claims losses from the bushfire catastrophe could dent industry profitability by 0.4 percentage points to 12.3% this financial year, research consultancy Ibisworld says in a report...
Insurers urged to pause before pursuing court action
23 March 2020
Insurers should consider industry implications before "rolling the dice" and pursuing legal cases to determine particular points...
Insurer told to pay landlord's claim for meth contamination
23 March 2020
The Australian Financial Complaints Authority has ruled Suncorp has no grounds to decline a claim for damage to a property caused by methamphetamine contamination...
Tribunal backs release of blood alcohol test result
23 March 2020
The NSW Civil and Administrative Tribunal has backed the release of a blood alcohol test result to be used in an insurance claim over a boating accident...
Industry ramps up response to first pandemic catastrophe
16 March 2020
The Insurance Council of Australia has declared the coronavirus pandemic a catastrophe, escalating the industry’s response to the worsening spread of the COVID-19 respiratory illness in the country...
Slowing economy poses broker challenge: Vero
16 March 2020
The slowing economy will pose fresh challenges to brokers as clients seek to reduce costs, the annual Vero SME insurance Index says...
Brokers at the forefront of new M&A deals: Deloitte
16 March 2020
Insurance mergers and acquisitions in Australia are likely to get a post-royal commission bump this year, with insurance brokerages likely to continue consolidating and the insurance subsidiaries of banks poised to become divestment candidates...