AIMS survey highlights industry shift
16 September 2019
Brokers are starting to move business in response to new insurtech offerings, the latest AIMS member survey shows...
Local
IAG, Suncorp ceding ground to 'spectacular' rivals: Macquarie
16 September 2019
New entrants in the home and personal motor lines have hatched a “spectacular” plan built around the broker channel to successfully challenge the dominance of IAG and Suncorp, according to a Macquarie Research report...
Bushfires update: claims exceed 100
16 September 2019
Insurers have so far received about 120 claims from the bushfires in NSW and Queensland...
Climate Index shows autumn temperatures exceed average trends
16 September 2019
Australia’s most recent autumn ranked as the second most extreme in the number of hot days, according to the latest Climate Index readings...
Lloyd’s fights total disablement claim by fast bowler Starc
16 September 2019
Lloyd’s has rejected a claim by Australian fast bowler Mitchell Starc for $1.5 million under a total disablement policy issued by one of its syndicates, denying the cricketer suffered a fracture of his right tibial bone and saying his injury does not meet the policy requirements for payment...
Insurers getting better treatment, says adviser body
16 September 2019
The Association of Financial Advisers has slammed the “double standards” of the Federal Government extending due regulatory process to insurers while denying it to the financial advice sector...
Cyber claims frequency, severity on the rise
16 September 2019
Cyber specialist underwriting agency Emergence Insurance says claims frequency rose 29% and average severity jumped 51% in the past financial year...
NZ homeowners miscalculating rebuild costs
16 September 2019
New Zealand homeowners are miscalculating the cost of rebuilding their properties, leading to the risk of underinsurance, IAG has warned...
NZ Ombudsman complaints rise by 448
16 September 2019
Complaint enquiries to New Zealand’s Financial Services Ombudsman jumped to 3805 in the year to June 30, up from 3357 in the previous year, with the most common complaint issues centred on insurance policy exclusions, scope of cover, non-disclosure, pre-existing conditions and gradual damage...
Intermediaries’ six-monthly premium stays above $11 billion
09 September 2019
General insurance intermediaries placed almost $11.5 billion in premium in the six months to June, the Australian Prudential Regulation Authority says in a half-yearly update...
Claims lodged as bushfires rage in NSW and Queensland
09 September 2019
Insurers have received 45 claims as of this morning from the Queensland and NSW bushfires, which have been declared a catastrophe by the Insurance Council of Australia...
High-risk areas not prepared for bushfire threat
09 September 2019
Residents in areas prone to bushfire risk are still not doing enough to prepare for the danger, despite routine multiple warnings on the importance of contingency planning, according to the Bushfire and Natural Hazards Cooperative Research Centre...
JLT vows to fight new Victorian class action
09 September 2019
JLT will fight a second class action brought against it by local councils alleging they have overpaid premiums while participating in mutual insurance arrangements established by the company...
Actuaries warn of new pressures from Hayne reforms
09 September 2019
Adapting to the post-Hayne royal commission landscape will be challenging, according to actuaries Taylor Fry...
Driverless cars set to shake up industry
09 September 2019
The rise of driverless cars will spur demand for “on-the-go” motor cover, according to a global study on the impact of autonomous vehicles on the transport landscape, including in Australia...
New NZ fraud bureau warns costs will rise without action
09 September 2019
New Zealand’s Insurance Fraud Bureau has warned crime costs will continue rising without a concerted and co-ordinated approach...
Lake Taupo earthquakes cause little damage
09 September 2019
New Zealand’s Earthquake Commission is calling for members of the public to contact them if their property has been damaged by the Turangi earthquakes...
Volcano study will lead to better prediction of eruptions
09 September 2019
Drone technology funded by New Zealand’s Earthquake Commission is being used to study volcanic plumes in the Pacific...
IAG takes up new earthquake model for New Zealand
09 September 2019
IAG NZ has licensed a new earthquake model for New Zealand from Boston-based AIR Worldwide to help manage its catastrophe risk...
Persistent dry, warm spell worsens bushfire risk
02 September 2019
Large swathes of the east coast face above normal bushfire risk as the dry and warm conditions show no signs of easing...