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...
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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...
Governance 'a rising issue' for Asia-Pacific insurers
17 February 2020
Governance is an issue growing in importance for insurance companies in the Asia-Pacific region and outweighs environmental risk, a new report from S&P says...
Storm catastrophe declared as summer havoc continues
10 February 2020
Losses from a weekend of flooding and wild east coast weather have already reached $45 million, the Insurance Council of Australia said today as it declared its sixth catastrophe in five months...
Catastrophes will hurt property profitability
10 February 2020
Bushfires and hailstorms during summer are set to have a significant impact on the profitability of domestic and commercial property classes this year, JP Morgan and Taylor Fry say...
Spring weather breaks records, sets conditions for fires
10 February 2020
Spring was Australia’s seventh consecutive season of extreme dryness and laid the foundation for this summer’s tragic bushfire crisis, the latest Australian Actuaries Climate Index reveals...
Choice’s ‘loose wordings’ accusations draw industry fire
10 February 2020
Insurers have strongly rejected accusations from Choice that the industry uses “loose and complicated” wordings to define fire cover in home policies...
Insurer loses case of the burned-out Toyota
10 February 2020
Suncorp must pay a motor insurance customer $11,100 after the insurer was found liable for the cost of a burned Toyota RAV4 that was comprehensively insured...
More homes lost as fires continue to burn
03 February 2020
Bushfire conditions deteriorated again in the ACT and NSW over the weekend, leading to the loss of more homes...
Hail losses continue to rise
03 February 2020
Losses from hailstorms that hit the ACT, Victoria and NSW last month are set to continue rising as claims are still being lodged...
ICA confirms CEO departure
03 February 2020
Insurance Council of Australia CEO Rob Whelan will leave the industry body to explore “new roles and opportunities”...
Insurers clarify coronavirus coverage
03 February 2020
The local insurance industry has warned that “broad exclusions normally apply” to pandemics and epidemics such as the current coronavirus outbreak...
Insurance cycle to peak late next year: Honan
03 February 2020
The hardening insurance market is unlikely to peak until late next year as underwriters continue to focus on improving profitability, Honan Insurance Group says...
ICA hosts Townsville catastrophe forum
03 February 2020
The Insurance Council of Australia hosted a forum in Townsville on Saturday for policyholders with unsettled claims, a year after the north Queensland city experienced a massive flood...
Climate change rises up Allianz risk list
03 February 2020
Climate change and increasing weather volatility is now ranked ahead of market developments and business interruption in Allianz Global Corporate and Specialty’s annual survey of the top risks facing the Australian insurance industry...