‘Toxic practices’: consumer advocates demand change
29 October 2018
Consumer groups have delivered a damning indictment of the general insurance industry and the regulation regime in submissions to the Hayne royal commission…
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ICA holds Queensland forums as Debbie disputes linger
29 October 2018
The Insurance Council of Australia will hold a series of forums for north Queensland communities next month as the industry continues to face scrutiny over its handling of claims from Cyclone Debbie last year…
No quick fix for industry’s ‘tarnished’ reputation
29 October 2018
Damage to the general insurance industry’s reputation inflicted by the Hayne royal commission will not be undone overnight, according to S&P Global Ratings…
Brokers eager to lead innovation
29 October 2018
Australian insurance brokers’ determination to innovate is revealed in new research published today by CGU…
Industry extends backing for vehicle theft campaign
29 October 2018
Insurers will give more than $900,000 this financial year to the National Motor Vehicle Theft Reduction Council, as the partners step up their efforts to fight crime…
QBE housing outlook offers LMI lift
29 October 2018
A surge in the number of first-time homebuyers should lift QBE’s lenders’ mortgage insurance business…
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…
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…