Insurers kick back at royal commission allegations
08 October 2018
Suncorp has defended its handling of Wye River and Hunter Valley catastrophe claims after the Hayne royal commission suggested misconduct and behaviour below community expectations…
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BOM forecasts quieter cyclone season
08 October 2018
Australia can expect a below-average tropical cyclone season, the Bureau of Meteorology says in its annual outlook released today…
New flood research centre opens in NSW
08 October 2018
The new National Centre for Flood Research held an inaugural symposium last week with representatives from local councils in Queensland and NSW, Bureau of Meteorology experts, scientists and community flood impact groups…
Needles in strawberries highlight rising recall risks
08 October 2018
The discovery of needles inside strawberries has highlighted increasing food recall risks facing producers and other parts of the supply chain, Swiss Re Corporate Solutions says…
Accenture opens risk and compliance centre
08 October 2018
Accenture has opened its Innovation Centre for Risk and Compliance in Sydney, which is aimed at supporting the financial services sector, including insurers…
NZ cyber breach records surge
08 October 2018
Increased co-operation with banks and financial organisations has produced a 143% leap in reported cyber incidents, according to computer emergency response body CERT New Zealand’s second-quarter report…
ICA branding used in email refunds scam
08 October 2018
The Insurance Council of Australia has warned consumers about an email scam that suggests it is offering refunds worth nearly $500 for vehicle policy overpayments…
Insurers prepare royal commission response
01 October 2018
The Insurance Council of Australia is preparing its response to the Hayne royal commission’s “policy questions” document, which was published last week following the insurance round of hearings…
Brokers consider options as competition increases
01 October 2018
Brokers are looking at other options if they feel client needs are not being met by major insurers, according to an Austbrokers & IBNA Member Services report…
Australian insurers can expect rate increases, says S&P
01 October 2018
Reasonable economic growth and premium rate increases mean underwriting profits for Australian property and casualty insurers are likely to be sound this year and next, a new report by S&P says…
PI and PL claims payout rise 23.6%
01 October 2018
Insurers paid $2.08 billion in claims for professional indemnity and public and product liability classes of businesses last year, up 23.6% from 2016, the Australian Prudential Regulation Authority says…
El Nino threat fading
01 October 2018
The possibility of an El Nino weather effect developing this year is reducing, but the chances of a positive Indian Ocean Dipole are rising…
Former NZ deputy PM named EQC Chairman
01 October 2018
Former New Zealand Finance Minister and Deputy Prime Minister Michael Cullen has been appointed Chairman of the Earthquake Commission (EQC) as it faces the tasks of rebuilding funds, wrapping up Christchurch claims and planning for more extreme weather events…
Insurers face royal commission misconduct findings
24 September 2018
Four general insurers face possible misconduct findings after appearing before the Hayne royal commission last week…
Complaints to FOS rise to record level
24 September 2018
Cash settlements of claims – an issue critically examined last week by the Hayne royal commission into financial services misconduct – is also an area of concern for the Financial Ombudsman Service, which has recorded a record rise in the number of disputes it has handled…
Homeowners apply for Queensland cyclone resistance funding
24 September 2018
More than 360 north Queensland households have applied for state government funding to make their homes more resilient to cyclones…
Delayed insurance payments ‘as bad as being uninsured’
24 September 2018
Insured businesses who receive delayed payouts from their insurer after a natural disaster fare no better in their economic recovery than uninsured businesses, research has found…
Vehicle thefts fall nationally
24 September 2018
The number of vehicles stolen fell 6% to 52,722 in the last financial year, led by sharp improvements in Victoria and other states, the National Motor Vehicle Theft Reduction Council says…
Premiums jump for trampoline play centres
24 September 2018
Liability insurance premiums for trampoline play centres have risen by more than 300% as insurers react to a steep rise in claims for the niche…
Allianz first up as Hayne turns to general insurance
17 September 2018
Allianz this afternoon became the first general insurer to face the Hayne royal commission as Chief GM Retail Distribution Michael Winter was questioned about “incorrect and misleading statements” regarding travel insurance on its website…