Seasonal catastrophe losses top $3 billion
02 March 2020
Updates last week to claims totals from the summer bushfires and hailstorms shows insured losses have now passed $3 billion...
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The biggest: bushfires set a sorry global record
02 March 2020
The season’s bushfires have burned more than 20% of Australia’s forests – an unprecedented percentage to burn on any continent in a single season, an academic study has found...
Woman sues Allianz over yoga course injury
02 March 2020
Allianz is facing court action after a woman fractured her spine during a “trust task” at a yoga teacher training course...
NZ regulator lists insurers' cyber claim losses
02 March 2020
Cyber incidents are likely to knock $NZ38 million a year from insurance sector profits, or 3% of annual profit for the industry, modelling from the Reserve Bank of New Zealand shows...
NZ hailstorm pushes weather losses to $113 million
02 March 2020
Insured losses from New Zealand’s severe weather events totalled more than $NZ118 million last year...
Bushfire royal commission targets mitigation
24 February 2020
Prime Minister Scott Morrison has launched a royal commission into this summer’s bushfire catastrophe, which is estimated to involve insured losses of at least $1.91 billion...
10 million policies pinpoint 15 ways to cut catastrophe risk
24 February 2020
The Insurance Council of Australia is preparing to publish 15 proposals quantifying for the first time just how much insurance premiums could decline under recommended measures to counter risks from cyclone, flood and bushfire...
‘Tick-box’ risk management won’t fly post-Hayne: WTW
24 February 2020
Widespread misconduct in financial services uncovered by the Hayne royal commission means a broader range of stakeholders than ever before will carefully examine organisations and judge whether risk frameworks are adequate...
Cyclone Esther crosses NT coastline
24 February 2020
Tropical Cyclone Esther is set to bring heavy rain to remote NT and Queensland communities after crossing the coastline in the Gulf of Carpentaria earlier today...
Exclusions will limit coronavirus BI impacts
24 February 2020
Exclusions and policy trigger rules are expected to curb potential insurance losses from business interruption claims related to the coronavirus epidemic...
Property owner not covered for Melbourne inferno
24 February 2020
Swiss Re International has won a court case over establishing insurance cover was not in place when a large industrial fire broke out in western Melbourne in 2018...
Tower wins indemnity dispute
24 February 2020
A New Zealand court has confirmed a claimant can only make one claim for the maximum sum insured in a policy, rejecting a bid to have Tower Insurance pay for property damage caused by three separate quakes...
AFCA member forums to kick off in April
24 February 2020
The Australian Financial Complaints Authority will host eight member forums across five capital cities this year, giving the financial services sector an opportunity to hear from its decision makers...
EQC recovery manager resigns
24 February 2020
Earthquake Commission Deputy CEO Readiness & Recovery Renée Walker has resigned and will depart in May after a three-month transition period...
Suncorp CEO wants faster resolution to gender imbalance
24 February 2020
Suncorp Insurance CEO Gary Dransfield has called on people across the industry to push for more rapid change to end the gender imbalance...
Steep increases threatening future of D&O: Marsh
17 February 2020
Marsh has warned that companies in Australia face the prospect of having to operate without directors’ and officers’ cover as steep rate rises of up to 250% threaten the viability of the market...
Cooler weather kicks in, but bushfire losses keep rising
17 February 2020
Insured losses from this season’s bushfire catastrophes are continuing to climb while cooler weather and rain has suppressed fires burning in East Gippsland and NSW...
Cyber rates hardening as losses worsen
17 February 2020
The rising number of claims in cyber insurance, with some severe losses reported, are continuing to put upward pressure on cyber rates, according to Axa XL...
Property premiums up as major insurers reduce capacity and appetite
17 February 2020
Commercial premium increases in the Pacific region, where Australia is the largest market, rose by more than a fifth last quarter to once again outperform global peers...
Australia's hard market threatens renewable energy projects
17 February 2020
A significant hardening of Australia’s insurance market threatens the viability of existing and proposed renewable energy projects, global broker Willis Towers Watson says...