insuranceNEWS.com.au - Analysis

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...

‘Attitudes have changed’: reflections on a decade of Dive In

Mon, 30 Sep 2024 00:54:05 GMT

Ten years ago, Dive In began in London with 100 people...

‘Unjustified’ premium rises sharpen reputation, regulatory concerns

Mon, 23 Sep 2024 02:56:39 GMT

Most industry watchers understand that insurers have needed to push through steep rate rises in recent years to ensure a profitable and sustainable future...

Strata stories stir up a hornet’s nest

Mon, 16 Sep 2024 00:08:52 GMT

More stringent insurance disclosure rules may be just one of the repercussions from last week’s Four Corners program alleging malpractice in the strata sector...

No holding back as code panel proposes sweeping upgrade

Mon, 09 Sep 2024 03:05:48 GMT

The independent panel reviewing the industry code of practice has pressed ahead with reform proposals targeting many of the problems highlighted during the federal flood inquiry...