Virus impact forces code implementation delay
11 May 2020
The deadline for implementing the bulk of the new General Insurance Code of Practice has been put back six months to July next year, as insurers turn their focus to dealing with COVID-19...
Local
Get slick during lockdown: insurtech
11 May 2020
New Zealand insurtech JRNY says it is working with large insurers to help foster a "slick digital presence" and protect sales even as face-to-face advice appears difficult for the foreseeable future due to COVID-19 prevention measures...
Australia’s fires and hail feature in rising global storm risks
11 May 2020
Fire-generated thunderstorms in Australia and last month’s deadly US tornadoes have highlighted rising risks from convective storms, the New York-based Insurance Information Institute says...
Insurers stand up to political pressure
04 May 2020
General insurers emerged relatively unscathed following two days of parliamentary hearings designed to scrutinise the industry...
Major insurers offer flexibility during eviction moratorium
04 May 2020
Key insurers IAG, Suncorp and Allianz have temporarily removed the requirement for landlord customers to provide an eviction notice when making a claim for loss of rent...
Australian insurers hit by "perfect storm" of challenges
04 May 2020
Fickle customers, climate change and "the maelstrom that is technology" are creating extreme volatility in the Australian insurance market, law firm Sparke Helmore says...
Swiss Re poll shows virus consumer impacts
04 May 2020
A new survey has found 14% of Australian consumers would be willing to drop their home or motor insurance if they are financially disadvantaged due to the coronavirus outbreak...
Climate Index casts light on catastrophic summer
04 May 2020
The latest Australian Actuaries Climate Index charts the record-breaking summer conditions that led to one of the worst disaster seasons on record, with insured losses of at least $4.6 billion caused by fire, floods and hail...
'Below average' cyclone season finishes
04 May 2020
Australia’s cyclone season finished on April 30, with Bureau of Meteorology officials confirming it as "below average"...
Experience gap: why insurers can’t find AI partners
04 May 2020
A lack of external partners with experience in both artificial intelligence and insurance is the major barrier to the adoption of the technology in the sector, according to a survey by professional services firm Genpact...
NZ insurers pay out almost $20 million for flood
04 May 2020
New Zealand insurers have paid $NZ19.7 million to meet losses from the February floods that caused a state of emergency in Southland, Fiordland and Clutha...
Overdue debts point to rising trade credit risks
04 May 2020
Increasing numbers of overdue invoices and debt collections are pointing to a worsening environment for trade credit insurers a quarterly index shows...
Parliamentary committee demands BI, travel answers
27 April 2020
Insurers have provided written answers on coronavirus exclusions for travel and business cover ahead of two days of Federal Parliament committee hearings that start tomorrow...
Bushfire inquiry sparks new insurance affordability debate
27 April 2020
Insurers have pushed back against a leading consumer group’s assertion that climate change could make insurance unaffordable for many Australians...
The exit challenge for insurers: claims criteria
27 April 2020
Rising unemployment, the closure of many workplaces and a move to working from home in all but essential services has muddied the waters for insurers and will put the spotlight on claims criteria as restrictions begin to be unwound...
Motor, property hard hit in economic slump
27 April 2020
The Australian insurance industry is unlikely to rebound quickly from the impact of the coronavirus outbreak, London-based analytics company GlobalData says, amid warnings the local economy may experience its deepest slump since the Great Depression in the first half...
RACQ sees hailstorm climbing towards 900
27 April 2020
RACQ Insurance has received 882 claims for home and vehicle damage after a wild storm saw golf-ball sized hail hit Rockhampton and parts of central Queensland on April 19...
Innovation blueprint needed for next gen firefighting
27 April 2020
Sydney-based risk modeller Risk Frontiers wants government, research and industry stakeholders to collaborate in a “research and innovation blueprint” outlining how technologies will enhance firefighting in both the near term and with “the next generation of capability”...
Storing keys out of sight cuts car theft: NMVTRC
27 April 2020
The National Motor Vehicle Theft Reduction Council is urging education for Australian drivers that highlights how simple measures like storing keys away from windows and doors can greatly reduce the risk of car theft...
Coronavirus is accelerating IT transformation, says DXC
20 April 2020
The COVID-19 outbreak will speed up the digital transformation of Australia’s general insurance industry, according to DXC Technology...