insuranceNEWS.com.au - Analysis

Cyclone pool inquiry sets out recommendations

Mon, 31 Mar 2025 02:00:32 GMT

A parliamentary inquiry into the operation and implementation of the cyclone reinsurance pool has published its final report, more than two years after it was launched...

‘Vague’ response to probes leaves consumer groups wanting more

Mon, 24 Mar 2025 02:30:12 GMT

The Insurance Council of Australia’s response to recommendations from the code review and federal floods inquiry set out its thinking on reforms, but also led to claims it is kicking too many cans down the road...

When it comes to intervention, the answer is to deepen the pool

Sun, 16 Mar 2025 22:27:32 GMT

The recent LA bushfires sent shockwaves through the insurance industry that will be felt around the world this year, with Victorian fires and Queensland floods causing further pain here in Australia...

The downside of high-end insurance pay

Mon, 10 Mar 2025 00:00:34 GMT

People who work in insurance are on average paid substantially more than their counterparts in other Australian industries, new data shows...

Sweet 16: ICA lists ways to tackle soaring premiums

Mon, 03 Mar 2025 01:36:35 GMT

The Insurance Council of Australia’s federal election platform contains “a big idea to combat a big problem”, calling for more than $30 billion in government cash to tackle floods...

Sleeping giants awaken: how insurtech is picking up the pace

Sun, 23 Feb 2025 23:32:45 GMT

“The biggest single complaint I hear from insurtech and insurers alike is how slow the insurance sector is.” This insight, from Insurtech Australia CEO Simone Dossetor, was shared last week with a 320-strong crowd at InsurtechLIVE in Sydney...

Breaking up insurance giants ‘no silver bullet’

Mon, 17 Feb 2025 03:20:34 GMT

Opposition Leader Peter Dutton has threatened to force divestment in the insurance market as premium costs spiral – but the industry says it won’t help consumers because coverage issues are caused by rising risks, not a lack of competition...

How to grow: EY outlook maps ‘multiple pathways’

Mon, 10 Feb 2025 00:32:59 GMT

A global insurance outlook from consultancy EY outlines strategies for growth in a softening market, as industry players look to maintain positive momentum...

What’s in a name? Quite a lot, say brokers fuming over anonymous penalty

Mon, 03 Feb 2025 02:04:30 GMT

The General Insurance Code Governance Committee is finally showing its enforcement teeth as it uses one of its strongest sanctions to punish an errant insurer for the second time in eight months...

2800 stories in 2024 – and here are your favourites

Mon, 16 Dec 2024 03:27:20 GMT

It’s been a busy year in the insurance industry, and the team at insuranceNEWS.com.au has published almost 2800 articles so far...

‘Significant blind spots’: regulator turns up heat on complaints failings

Mon, 09 Dec 2024 01:49:38 GMT

The corporate regulator has demanded insurers act immediately on complaints handling failings, toughening its messaging as the three-year anniversary of the Queensland and northern NSW floods approaches...

‘A mystery to outsiders’: the good, the bad and the ugly of insurance work

Sun, 01 Dec 2024 23:56:29 GMT

A simple, open-ended question in this year’s Insurance News wellbeing survey – “Can you tell us what you do and don’t like about working in insurance?” – garnered almost 1100 anonymous and frank replies...

The $5 trillion question: insights from our cyber seminar

Mon, 25 Nov 2024 01:22:12 GMT

Insurance News held a half-day cyber seminar in Sydney last Thursday, with more than 100 industry professionals attending...

A deep dive into AFCA’s datacube

Mon, 18 Nov 2024 01:25:19 GMT

The Australian Financial Complaints Authority has updated its datacube resource, which provides statistics on disputes by product or company...

Radar reveals the top trends and trouble spots

Mon, 11 Nov 2024 01:10:29 GMT

Actuarial group Taylor Fry’s Radar report has examined climate, affordability, technology and regulation impacts on insurers while looking behind industry headline figures to identify positive and negative developments in each of the major classes...

More intervention looms as climate sends premiums soaring

Sun, 03 Nov 2024 23:55:25 GMT

A range of market interventions may be required as climate change unravels traditional insurance models, the Australia Institute warns today...

Stronger foundations? Victoria acts on builders’ warranty

Mon, 28 Oct 2024 01:32:45 GMT

Significant reforms to Victoria’s building regulator and builders’ warranty insurance scheme have been broadly welcomed, as the state moves towards a “first resort” model...

Code shake-up, ASIC powers at heart of floods response

Mon, 21 Oct 2024 01:39:12 GMT

The parliamentary inquiry into the record-breaking floods of two years ago has placed significant weight on achieving improvements through a code of practice overhaul, backed by greater oversight from the Australian Securities and Investments Commission...

‘More stick than carrot’ as nation bolsters cyber laws

Mon, 14 Oct 2024 01:24:02 GMT

Australia is seeking to be the first country to require that ransoms paid to cybercriminals be reported to the government...

‘Phase them out’: experts back industry on insurance taxes

Mon, 07 Oct 2024 01:45:02 GMT

The Senate inquiry into the impact of climate risk on insurance premiums is getting one message loud and clear: axing taxes on insurance would be the easiest and most direct way for governments to ease affordability pressure...