ICA unveils crop cover plan for ‘good times and bad’
29 October 2018
The Insurance Council of Australia will engage with Canberra on its five-point crop insurance plan to manage future droughts…
Local
NZ’s ‘risky country’ tag offers wake-up call
29 October 2018
New Zealand insurers have urged consumers to check their cover after a Lloyd’s study showed the country has the second-highest exposure to natural catastrophe losses…
Perils launches windstorm loss predictor
29 October 2018
Catastrophe data company Perils has launched a real-time windstorm loss forecasting tool for Australia, which begins its six-month cyclone season on Thursday…
A note from the Publisher
22 October 2018
The latest edition of Insurance News magazine is being mailed out this week, and with it we’ll be celebrating a significant milestone…
‘Numerous headwinds’ predicted – despite rate rises
22 October 2018
Commercial premium rises are providing the main tailwind for the insurance industry, which achieved a bounce-back performance last financial year, Finity Consulting says…
Pricing must keep pace with climate change: Finity
22 October 2018
Insurers can’t afford to take a relaxed approach to pricing for climate change, because an escalation in severe weather events may leave them playing catch-up as claims costs are driven higher…
Half of industry cyber breaches go undetected
22 October 2018
While insurance companies are focused on alerting clients to the dangers of cyber breaches, their own internal security systems have failed to detect about 47% of cyber breach attempts…
Australia climbs insurance penetration chart
22 October 2018
Australia has an insurance penetration rate of 3.5%, the sixth-highest in a Lloyd’s underinsurance study of 43 economies…
Data loss lawsuits face major barriers
22 October 2018
While companies are responsible for keeping clients’ data secure, class actions around data breaches would face significant hurdles in Australian law…
Quake experts name Australian hotspots
22 October 2018
The Wheatbelt region in WA and Gippsland in Victoria are the areas most vulnerable to earthquakes, according to the latest National Seismic Hazard Assessment…
ICA reassesses historic cat losses
22 October 2018
The Insurance Council of Australia is upgrading its catastrophe data to normalise historic disaster loss figures to last year’s values…
EQC close to finalising storm claims
22 October 2018
New Zealand’s Earthquake Commission has settled 84% of claims from storm events between January and last month…
LMI link to securities in decline
22 October 2018
The use of lenders’ mortgage insurance policies in residential mortgage-backed securities is falling, according to S&P Global Ratings…
Quake experts examine silent threat to Dunedin
22 October 2018
“Quiet” earthquake faults that could cause severe damage in the southern New Zealand city of Dunedin are the early focus of a research project funded by the Earthquake Commission…
In Insurance News (the magazine) this month
22 October 2018
What does the Hayne Royal Commission have in store for the general insurance industry? Insurance News magazine has analysed the royal commission’s hearings to date and spoken to experts who believe the shock that’s coming will be based on tougher regulation rather than a pile of new legislation…
El Nino a 70% certainty: BOM
15 October 2018
The risk of heatwaves and bushfire weather in southern Australia has increased, with the Bureau of Meteorology issuing an El Nino alert…
Lawyers demand more action on silicosis
15 October 2018
Legal firm Maurice Blackburn has welcomed reports of Federal Government discussions about the risks of silicosis in the stonemason industry at last week’s Council of Australian Governments meeting…
ICA supports step to raise Warragamba Dam wall
15 October 2018
The Insurance Council of Australia has supported a NSW parliamentary bill that would remove a regulatory barrier to extending the Warragamba Dam wall…
Hailstorms hit, but insurance cost will be low
15 October 2018
Queensland residents, business owners and farmers suffered damage from huge hailstones as storms raged across the state last week – but the insurance bill will be relatively low…
ICA outlines cat process as cyclone season looms
15 October 2018
The looming bushfire season has brought together insurers, firefighters and weather experts to achieve greater understanding of the industry’s catastrophe response mechanisms…