15 November 2021
The Queensland Government says expressions of interest have opened for a $10 million natural disasters mitigation program, announced in the state budget, that aims to lower the cost of insurance in the north...
08 November 2021
The Australian Prudential Regulation Authority has outlined action underway to ensure insurers and the Australian financial system is ready to respond to economic risks posed by climate change...
08 November 2021
The NSW State Insurance Regulatory Authority says it will recover $91 million in excess profit from compulsory third party insurers...
08 November 2021
The Queensland Government says an additional $3 million will be provided to expand a program to defend the state’s communities from climate change, sea level rises, storm tides and coastal erosion...
08 November 2021
The Victorian Government says it has prepared for the summer bushfire season by investing a record $517 million, recruiting 600 seasonal firefighters and undertaking year-round planned burning...
08 November 2021
A herd of 40 firefighting goats are chewing through hectares of vegetation across NSW in a trial of grazing as a measure to lower bushfire risk...
01 November 2021
Australia’s building standards are not achieving the robustness they set out to, with internal pressure a particular issue during natural hazards, James Cook University Chief Engineer David Henderson says...
01 November 2021
Legislation extending an accountability regime to insurance and establishing a Compensation Scheme of Last Resort has been introduced into Federal Parliament...
01 November 2021
The Federal Government has introduced legislation into Parliament that aims to prevent litigation funders charging excessive fees that are to the detriment of class action members...
01 November 2021
Flammable cladding has been removed for investigation from a Darlington apartment block as the NSW Government kicks off its billion-dollar Project Remediate program...
01 November 2021
The Reserve Bank of New Zealand’s first stress test involving general insurers has highlighted the industry’s reliance on offshore reinsurance and the potential for lower profitability and reduced dividend payments in severe weather scenarios...
25 October 2021
The Australian Prudential Regulation Authority says insurance accessibility and affordability challenges for parts of the community are likely to be exacerbated by increases in the frequency and severity of natural catastrophes, and the issue is a key focus...
25 October 2021
The NSW Government aims to “weed out” untrustworthy apartment developers with the introduction of decennial liability insurance to guarantee against major defects for up to 10 years and provide a safety net for consumers which is currently lacking in the multi-unit high rise sector...
25 October 2021
The Australian Prudential Regulation Authority says finalised guidance for a new remuneration standard developed to rein in poor practices has been released, allowing insurers and other firms plenty of time to put in place required arrangements...
25 October 2021
The Australian Reinsurance Pool Corporation has reported a better-than-expected operating result of $84.9 million due to rate increases in underlying commercial insurance premiums...
25 October 2021
Communities across NSW have been warned against bushfire complacency and to make preparations as the high-risk period arrives...
18 October 2021
Two major reports last week criticised the payment of ransoms to cyber criminals, putting pressure on the insurance industry for reimbursing clients under attack...
18 October 2021
Uncertainty around business interruption cover during the pandemic has persisted for too long and has stemmed from insurers’ inadequate systems and risk management processes, Australian Securities and Investments Commission Deputy Chairman Karen Chester said...
18 October 2021
Insurers should seek to limit pricing cycle volatility and look beyond significant premium increases and withdrawal of cover in responding to market issues, Australian Prudential Regulation Authority Deputy Chairman Helen Rowell says...
18 October 2021
A consultation process is settling the final details for a cyclone reinsurance pool that is on track to take effect next July, Assistant Treasurer Michael Sukkar says...