Natural perils cost $13 billion a year
15 April 2019
Australian natural perils generate an average annual cost of $13.5 billion, including insurance losses and intangible impacts, actuarial consultant Finity says…
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Industry missing out on data riches: tech expert
15 April 2019
Insurers have not yet unlocked insights from their unstructured data or leveraged it through the claims management chain, according to Gallagher Basset…
Insurers in dark on social risks: actuaries
15 April 2019
Social risk changes are being overlooked and should be more closely monitored by insurers through a formal review process, the Actuaries Institute warns…
Fire chiefs demand action on climate threat
15 April 2019
Former state fire and emergency services leaders have demanded a federal parliamentary inquiry into resourcing as natural disaster risks rise due to climate change…
Bushfire research body seeks funding extension
15 April 2019
The Bushfire and Natural Hazards Co-operative Research Centre is working to secure a new government grant before its funding term ends in two years…
Code committee slams ‘lip service’ on compliance
08 April 2019
Some insurers still do not take seriously their obligations to comply with the voluntary code of practice, Lynelle Briggs, the Chair of the General Insurance Code of Practice Governance Committee, has warned…
NIBA examines ‘important messages’ from SME study
08 April 2019
The National Insurance Brokers Association will examine Vero SME Insurance Index results that show declining trust levels and more businesses buying some cover in the direct market…
Wallace tracks away from WA coast
08 April 2019
Cyclone Wallace is moving over open ocean off the Pilbara coast and is not expected to hit WA in the next few days…
Industry urged to back flood and drought cover for cattle
08 April 2019
The north Queensland floods have again exposed the dearth of insurance products available to the cattle industry, according to risk adviser OBA Consulting…
Industry ‘putting words into action’ on tech
08 April 2019
Innovation, disruption and adoption of new technologies is gathering pace in insurance, according to a global IT services group…
ICNZ questions ‘open-ended commitment’ to disaster losses
08 April 2019
The Insurance Council of New Zealand has questioned whether the public expectation of an “open-ended” commitment from insurers and the Government to cover disaster losses is sustainable…
NZ considers quake warning system
08 April 2019
New Zealand’s Earthquake Commission is seeking feedback on the possible development of an earthquake early warning system…
M&A interest spikes
01 April 2019
Interest in insurance mergers and acquisitions in Australia and New Zealand has surged, a report from deal room technology company Ansarada shows…
Summer catastrophe bill passes $2.2 billion
01 April 2019
The insurance industry is “working around the clock” in three states as the impact of Australia’s catastrophe-ridden summer increases…
IAG customers win WA bushfire lawsuits
01 April 2019
IAG customers are among 189 residents who have been awarded compensation for damage suffered during the January 2014 Parkerville bushfire in the Perth Hills…
Shorten rejects call for construction inquiry
01 April 2019
The Builders Collective of Australia says Labor leader Bill Shorten has rejected its call for a royal commission on problems highlighted by apartment tower fires and construction failures…
Changing climate 'could cause more NZ floods'
01 April 2019
Climate change may bring more New Zealand flood events like the weather system that hit the South Island’s west coast last week…
Cyclone Veronica threatens ‘major flooding’ in west
25 March 2019
Tropical Cyclone Veronica has been downgraded to Category 2, but the slow-moving storm threatens to bring floods as it tracks west close to WA’s Pilbara coast today…
El Nino risk soars as Pacific warms
25 March 2019
The Bureau of Meteorology says the chance of an El Nino developing this year has risen to 70%, triple the normal likelihood…
Queensland MP Entsch slams ICA flood report
25 March 2019
Federal MP Warren Entsch has labelled the Insurance Council of Australia “opportunistic” over its push for more funding of mitigation programs…