Southern Response class action gains funding
06 May 2019
A New Zealand class action against Southern Response regarding Canterbury earthquake payments has gained litigation support from Claims Funding Australia…
Local
ICA holds third Townsville forum
06 May 2019
The Insurance Council of Australia will host a third forum in Townsville tomorrow for policyholders affected by February’s devastating floods, which led to more than 27,000 claims totalling more than $1.13 billion…
Prescribed burns ‘not one size fits all’
06 May 2019
Prescribed burning to prevent bushfire losses must be tailored to fit its objective, because a broad approach does not work, a new academic study shows…
ICA board welcomes Plant and Myler
06 May 2019
The Insurance Council of Australia has appointed two new directors, as it responds to regulatory, political and climate challenges…
Marsh rep leaves NIBA board after JLT deal
06 May 2019
Marsh representative Mike Hutchinson has resigned from the National Insurance Brokers Association board following the company’s acquisition of JLT…
Construction, waste management facing tough time
29 April 2019
The construction industry and recycling and waste management operators face surging premiums and challenges obtaining cover, Honan warns in a quarterly market update…
Multi-peril crop market ‘failure’ as providers exit
29 April 2019
Australia’s long-struggling multi-peril crop insurance market has ground to a halt after an exodus of providers, according to a famers’ peak body…
AIG travel policy tops Choice ranking
29 April 2019
AIG’s Good2Go The Works policy has gained the highest score in a Choice survey of travel insurance…
Class actions drive further D&O rate gains
29 April 2019
Class actions are continuing to drive up directors’ and officers’ insurance premiums amid heightened scrutiny of listed companies, according to Aon…
Fraudster reimburses Chubb
29 April 2019
A Perth businessman who was jailed for seven years after attempting a major insurance scam has paid Chubb $500,000…
New AFCA powers tipped to drive financial lines premiums
29 April 2019
Financial lines premiums may rise when the Australian Financial Complaints Authority starts accepting legacy disputes in July…
Drought continues in agricultural heartland
29 April 2019
There is no end in sight to the crippling drought that has devastated some rural areas…
Farms, abattoirs warned on vegan protests
29 April 2019
Increasing animal rights activism could raise insurance issues for farms, abattoirs and other food-chain producers, Gallagher has warned…
Catastrophe claims costs heading for $2.5 billion
29 April 2019
Claims costs from the three summer catastrophes continue to rise, according to Insurance Council of Australia data…
Australia ‘heavily exposed’ to secondary perils
15 April 2019
The hailstorm that hit Sydney last December was further confirmation of the growing risk to insurers from secondary natural perils, Swiss Re’s latest Sigma study says…
Townsville claims rise as coverage rows rumble on
15 April 2019
The number of claims lodged after the devastating Townsville floods in February has risen to 27,355, amounting to more than $1.13 billion…
Hawking reforms ‘must be handled with care’
15 April 2019
Hayne royal commission recommendations to strengthen anti-hawking laws must be given “careful consideration” to ensure changes don’t have a detrimental impact on the general insurance industry, Finity has warned…
Insurers’ apathy drives out NZ insurtechs
15 April 2019
Nearly all insurtechs in New Zealand are being forced to form partnerships with other start-ups or planning overseas expansion because local insurers as so apathetic…
In Insurance News magazine this month
15 April 2019
How will insurance brokers deal with the fallout from the Hayne royal commission? The latest edition of Insurance News, the industry’s most popular magazine, looks at the quandary for brokers struggling with the consequences of an inquiry they weren’t even invited to participate in…
ICA plays down spike in code breaches
15 April 2019
The Insurance Council of Australia and major insurers have rejected criticism of the industry’s performance following a 32% rise in code breaches last financial year…