New laws present ‘big challenge’ for add-on policies
03 June 2019
Add-on insurance will be most affected when new product design and distribution laws take effect in April 2021, according to Finity…
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Warm, dry winter on way after record-breaking summer
03 June 2019
Summer was a season of extremes, with record hot days and drought in parts of central NSW contrasting with all-time high rainfall in tropical regions, the Australian Actuaries Climate Index reveals…
Rising seas need new risk approach: researchers
03 June 2019
Airports and other critical coastal infrastructure should be subject to risk planning for higher sea level increases than previously expected, researchers at Risk Frontiers and Macquarie University warn…
ICA property hazards app goes live
03 June 2019
The Insurance Council of Australia has launched a mobile app detailing property hazard data for residents…
Consumer group flags Big Data concerns
03 June 2019
Increased use of Big Data could create an insurance affordability problem as the industry assesses risk at a “granular level”, the Financial Rights Legal Centre says…
Claims rise on the way as trade credit debts spike
03 June 2019
Insurance claims for bad business debt are expected to jump in the next few months as companies grapple with worsening trading credit conditions, a broker says…
Emergence urges action on ‘human hacking’ risk
03 June 2019
Digital crimes are on the rise partly because “humans are easier to hack” than computers, cyber insurer Emergence told about 1200 participants in a webinar…
Seafloor sensors monitor NZ ‘quake factory’
03 June 2019
The Earthquake Commission is funding the placement of two sensors on the seafloor at New Zealand’s largest plate boundary, to feed continuous readings to scientists over five years…
Townsville floods, Sydney hail sink industry earnings
27 May 2019
The industry’s underwriting profit fell 32.4% to $2.8 billion in the year to March 31 as earnings took a severe hit from the Townsville floods and Sydney hailstorm, latest Australian Prudential Regulation Authority figures show…
Australian resilience held back by cyber threat
27 May 2019
Australia is one of the most resilient nations in the world but could be exposed by “inherent cyber risk”, according to FM Global’s Resilience Index…
Far-right terrorism a ‘significant threat’ in region
27 May 2019
Australia and New Zealand face attacks from people with extreme right-wing ideologies, while the massacre at two Christchurch mosques has raised the threat of retaliatory action, Marsh warns…
Fewer customers switch insurers despite shopping around
27 May 2019
More customers are comparing providers before renewing insurance policies, yet fewer are deciding to switch after doing so, according to Roy Morgan research…
Queensland flood bill passes $1.2 billion
27 May 2019
The north Queensland monsoonal flood claims bill has reached $1.23 billion, according to latest figures from the Insurance Council of Australia…
Steadfast, icare renew Mansfield Awards sponsorship
27 May 2019
Steadfast and NSW state insurer icare will sponsor the Mansfield Awards for the third consecutive year, with the event scheduled for July 25…
AMP Life chief steps up as ANZIIF President
27 May 2019
AMP Life CEO Megan Beer is the new President of the Australian and New Zealand Institute of Insurance and Finance…
AFCA recruiting after ‘extraordinary’ six months
27 May 2019
The Australian Financial Complaints Authority is expanding, creating two new senior roles after being inundated with disputes since it launched in November…
NZ court throws out claims company’s case
27 May 2019
The New Zealand High Court has struck out proceedings brought by claims services company WorldClaim against a former director…
Businesses seek protection as trade credit risk rises
27 May 2019
About 47% of Australian businesses plan to step up insurance to protect against rising trade credit risk…
Market ‘failing to keep pace’ with cyber threat
20 May 2019
Cyber attacks’ frequency, severity and evolution are accelerating too quickly for the insurance market to maintain coverage, Gallagher warns…
Suncorp defends fossil fuel stance
20 May 2019
Suncorp has defended its record amid a campaign by climate group Market Forces pushing it to stop underwriting fossil fuel projects and ditch its coal investments…