insuranceNEWS.com.au https://www.insurancenews.com.au/ General insurance and financial services news from Australia and around the world en-au admin@insurancenews.com.au Copyright 2019 A win/win on depreciation https://www.insurancenews.com.au/analysis/a-winwin-on-depreciation https://www.insurancenews.com.au/analysis/a-winwin-on-depreciation Should depreciation be deducted from a business interruption claim as a “saving”? This Analysis of the issue is from Mark Darwin, a Partner at Herbert Smith Freehills and Peter Rink, Willis Towers Watson Head of Asia Pacific, Forensic Accounting and Complex Claims...

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Mon, 19 Aug 2019 12:00:00 +1000
Levels rising: water claims prove a costly challenge https://www.insurancenews.com.au/analysis/levels-rising-water-claims-prove-a-costly-challenge https://www.insurancenews.com.au/analysis/levels-rising-water-claims-prove-a-costly-challenge Chubb’s report on internal water damage offers a case study of a client who owns a beautiful historic home as part of a property portfolio...

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Mon, 12 Aug 2019 14:48:00 +1000
Northern Australia: ACCC plays a tune it can dance to https://www.insurancenews.com.au/analysis/northern-australia-accc-plays-a-tune-it-can-dance-to https://www.insurancenews.com.au/analysis/northern-australia-accc-plays-a-tune-it-can-dance-to Just as some federal ministers decline to engage with anyone using the term “climate change”, it is becoming apparent that with others in government the turn-off word is “mitigation”...

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Mon, 05 Aug 2019 13:37:00 +1000
Pay as you fly: drones show the way https://www.insurancenews.com.au/analysis/pay-as-you-fly-drones-show-the-way https://www.insurancenews.com.au/analysis/pay-as-you-fly-drones-show-the-way In January 2018, the first usage-based insurance cover for drones in Europe was launched, with capacity provided by Allianz. Since its debut, Flock Cover has analysed and priced risk for more than 500,000 drone flights in what could be a sign of how the future face of insurance may take shape...

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Mon, 29 Jul 2019 14:21:00 +1000
Building ignorance: politicians fail to grasp insurance (again) https://www.insurancenews.com.au/analysis/building-ignorance-politicians-fail-to-grasp-insurance-again https://www.insurancenews.com.au/analysis/building-ignorance-politicians-fail-to-grasp-insurance-again Politicians love pointing the finger at insurers when the proverbial hits the fan – and the current construction industry crisis is no exception...

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Mon, 22 Jul 2019 13:20:00 +1000
All set for the fifth festival of diversity and inclusion https://www.insurancenews.com.au/analysis/all-set-for-the-fifth-festival-of-diversity-and-inclusion https://www.insurancenews.com.au/analysis/all-set-for-the-fifth-festival-of-diversity-and-inclusion For the past five years Lloyd’s has been at the forefront of promoting diversity and inclusion in the insurance industry, globally and in Australia...

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Mon, 15 Jul 2019 13:58:00 +1000
Lessons to be learned: CBL failure puts heat on NZ regulator https://www.insurancenews.com.au/analysis/lessons-to-be-learned-cbl-failure-puts-heat-on-nz-regulator https://www.insurancenews.com.au/analysis/lessons-to-be-learned-cbl-failure-puts-heat-on-nz-regulator Fallout from the CBL Insurance failure will be felt across the New Zealand industry, with an independent review revealing a cautious regulatory approach failed to quickly get to the bottom of the company’s problems...

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Mon, 08 Jul 2019 12:59:00 +1000
Taking stock: a mid-year regulatory round-up https://www.insurancenews.com.au/analysis/taking-stock-a-mid-year-regulatory-round-up https://www.insurancenews.com.au/analysis/taking-stock-a-mid-year-regulatory-round-up Memories of last year’s royal commission hearings may already be fading, but there’s no chance Commissioner Kenneth Hayne’s recommendations have been forgotten...

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Mon, 01 Jul 2019 13:09:00 +1000
PI pullout chips away at building industry’s foundations https://www.insurancenews.com.au/analysis/pi-pullout-chips-away-at-building-industrys-foundations https://www.insurancenews.com.au/analysis/pi-pullout-chips-away-at-building-industrys-foundations The thousands of building surveyors, certifiers or construction industry operators who are required by regulation to have professional indemnity (PI) insurance are facing a dilemma that may well force them out of business...

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Mon, 24 Jun 2019 13:57:00 +1000
Industry banana skins: digital slip-ups loom large https://www.insurancenews.com.au/analysis/industry-banana-skins-digital-slip-ups-loom-large https://www.insurancenews.com.au/analysis/industry-banana-skins-digital-slip-ups-loom-large Last week diversified insurance provider Insurance House was forced to shut down its online systems for a lengthy period while it dealt with a highly sophisticated malware attack. While no client data was compromised, the company says the episode is a reminder how challenging the cyber threat can be...

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Mon, 17 Jun 2019 13:43:00 +1000