Why Every Business Owner Should Have Business Insurance Coverage
There are plenty of risks when it comes to running your own business. Accidents and incidents can happen from injuries to natural disasters. Having insurance t ...
When and Why You Need Public Liability Insurance for Small Business
If you are a small business owner that makes or sells products or interacts with the general public, it is important to consider obtaining public liability ins ...
Adverse Weather Events to The Sum of $35 Billion For Australians
In the past ten years alone adverse weather events have cost Australians $35 billion. This figure has doubled since the 1970’s and is only set to rise. Having ...
How The Construction Industry Will Be Impacted By The Capacity Crunch?
The Australian construction sector is facing increasing pricing, higher excess levels and restricted insurance cover due to natural disasters and project failu ...
Positive Opportunity For Insurers To Embrace Change
EY Global released their 2021 Global Insurance Outlook report where they suggested there is an opportunity for general insurers to change their business models ...
Flood Damage Extends To $438 Million With Clean Up Well Underway
The insurance costs from the Queensland and New South Wales flooding have extended to an estimated $438 million, as the focus shifts to the clean up and future ...
Climate Change Guidance Draft Released
The Australian Prudential Regulation Authority is also known as the APRA has recently released a draft of their climate change guidance. This guidance ...
$600 Million Dollar Mitigation Program Announced In Budget
The Federal Government Budget included a $600 million mitigation program that will support resilience projects. Prime Minister Scott Morrison identified that t ...
Increased Training On Premium Funding Suggested By Broker Code Committee
The Insurance Brokers Code Compliance Committee, which assists insurance brokers to deliver high quality service standards to consumers, has recently suggested ...
Estimated ASIC Funding Levy Tops $24.7 Million
The estimated levy recovered by The Australian Securities and Investment Commission (ASIC) totals $24.7 million. These funds will be recovered from the general ...
Insurance Companies Join COVID Vaccination Push
Some of Australia’s largest insurance companies are urging eligible staff members to receive a COVID-19 vaccination. With the possibility of offering an employ ...
Suncorp Offering Grants To Rebuild After Natural Disasters
Suncorp pledged 1 million in grants to assist with the rebuilding in remote, rural and regional areas within Australia. In the hopes to rebuild resiliently in ...
Profitability Improves For Global Industry As Rates Increase
According to a report on the results of global firms, insurer and reinsurer combined operating ratios improved in the first half, as rate increases outweighed ...
Insurance Awards Finalists Named By ANZIIF
The finalists for the Australian Industry Awards have been announced by the Australian and New Zealand Institute of Insurance and Finance (ANZIIF). AN ...
Buy Now, Pay Later Option For Insurance Introduced By Coverpay
From next month “buy now, pay later” company Coverpay will offer a general insurance product. This will be aimed at consumers and SME’s after raising $2.5 mill ...
Over Four Decades Natural Disasters Are Projected To Cost Australia $1.2 Trillion
Natural disasters costs are set to almost double over the next forty year period. $1.2 trillion is the projected cost to the Australian economy according to th ...
IAG and Suncorp raise peril costs expectations after storms
Storms in South Australia and Victoria have been declared a catastrophe by the Insurance Council of Australia (ICA). These extreme weather events have elevated ...
Floods predicted for Australia this spring and summer
The Bureau of Meteorology warns that above-average rainfall and flash flooding could occur in Australia this spring and summer. Atmospheric and oceani ...
Action on home resilience needed to minimise impact from cyclones
$23 billion in claims costs have been generated by cyclones since 1967. The Insurance Council of Australia (ICA) says homes are not resilient enough, ...
What You Need to Know About Cyber Threats
As the internet has become an even more integral part of our lives and businesses, cyber threats have become a more prevalent danger. Each and every d ...
Worldwide losses from natural disasters on the rise
In 2021, natural disasters caused substantially higher losses worldwide when compared to the previous 2 years, according to the Munich Re 2021 Nat Cat report.& ...
AFCA says there is no excuse for not disclosing your claims history
A couple has lost their claims dispute after failing to remember their previous claims history when purchasing an Auto & General motor policy. The ...
Questions remain after cyclone reinsurance pool details are released
After announcing that they would be going ahead with the long-debated proposal, the Federal Government has quickly moved to develop a cyclone reinsurance pool. ...
Insurers step up their commitment to tackling climate change
Allianz Australia has stepped up their climate commitment in 2021 by becoming the first insurer to join Climate League 2030. Climate League 2030 is a ...
Personal hardship assistance extended to more flood-affected areas across South-East Queensland
On March 2nd, the Insurance Council of Australia (ICA) stated that insurers received 48,220 claims related to the flooding in South-East Queensland and the New ...
High level of underinsurance in flood affected areas
The Queensland and NSW floods have caused losses reaching an estimated $2.3 billion. This devastating extreme weather event has deeply impacted many families a ...