D&O volatility continues as class actions mount
12 June 2018
The market for directors’ and officers’ insurance continues to deteriorate as class actions ramp up…
Local
Market crash poses biggest risk to Australian GDP
12 June 2018
A financial market crash could place almost half of Australia’s economic output at risk, making it the single largest threat to the economy, Lloyd’s says…
Insurers urged to harness power of AI now
12 June 2018
Australian insurers must act now to seize the opportunities offered by artificial intelligence, which is likely to transform the business world as profoundly as any past innovation, Accenture says…
EQC told to speed settlements through claims, data shake-up
12 June 2018
New Zealand’s Earthquake Commission has been urged to overhaul its data, employ an extra claims team and improve communication to speed settlement of remaining Canterbury claims…
Cost plays part in low pet cover take-up
12 June 2018
Only about 6% of pet owners have insurance for their animals, a new Roy Morgan Research survey shows…
NZ insurers welcome climate change consultation
12 June 2018
The New Zealand Government has produced a discussion document and begun public consultation on its Zero Carbon Bill, which aims to set emissions targets in law…
Hobart region storm losses pass $45 million
12 June 2018
Losses from storms in the Hobart area last month have jumped to $45.12 million as the clean-up continues…
Low-cost trio come out tops in car awards
12 June 2018
Budget Direct, CGU and Suncorp-owned Bingle have won Canstar’s national award for outstanding value car insurance…
Tower demands action on meth contamination report
12 June 2018
New Zealand insurer Tower has urged the Government to act on the Chief Science Adviser’s report allaying fears about methamphetamine residue in homes…
In Insurance News (the magazine) this month
12 June 2018
James Shipton, the new Chairman of the Australian Securities and Investments Commission, says financial services – which includes general insurance – has lost its way by focusing solely on profit and must now learn to “do the right thing”…
NZ science chief blows away meth residue fears
04 June 2018
The New Zealand Government’s science adviser has found no evidence that residue from home methamphetamine smoking will harm future residents, paving the way for a review of clean-up rules…
Strata sector insured value nears $1 trillion
04 June 2018
Australia’s strata and community title sector has grown to about 2.6 million title lots with an insured value of $995 billion, a new report shows…
Law reform body considers regulation for third party litigation funders
04 June 2018
The Australian Law Reform Commission has released a discussion paper querying whether the Commonwealth should regulate class action proceedings and third party litigation funders…
NZ directors rate cyber as leading threat
04 June 2018
Cyber attacks top a poll ranking external risks to New Zealand businesses, for the second year running…
Insurers step back from thermal coal
04 June 2018
Insurers are withdrawing cover for thermal coal as regulation and ethical practices have a growing impact on the industry…
Bushfire power lines ‘not up to standard’
04 June 2018
An energy regulator’s report on the Terang bushfire in Victoria has concluded powerlines owned by utility company Powercor did not meet Australian “clearance standards”…
Industry records sharp rise in profit
28 May 2018
General insurers and reinsurers recorded a 42.3% rise in after-tax net profit to $3.7 billion in the year to March, Australian Prudential Regulation Authority data shows…
Brokers beat direct on coverage, says Vero research
28 May 2018
New survey data shows small businesses are twice as likely to be fully covered for losses if they buy insurance through a broker rather than buying direct…
Insurtechs slam insurers’ slow reactions
28 May 2018
The vast majority of insurtechs want to collaborate with the established industry, but they believe incumbents are not doing enough…
Renovation trend drives above-forecast asbestos claims
28 May 2018
Mesothelioma claims have exceeded expectations as home renovations cause an extended third wave of asbestos exposure, James Hardie says…