Editorial team
Editor: Eva Wiland. Email eva.wiland@thomsonreuters.com . Acting Editor: Kate Tilley. Journalist: John Reynolds. Managing Editor: Helen Jones. Twitter: @Cover_NoteTR
View ArticleBroking ‘a profitable business'
Insurance broking is “pretty good”, making a 22.7% profit on revenue of $12.2bn, IbisWorld chair Phil Ruthven told the NIBA Convention (above) . He predicted 1.1% growth for the industry in 2015-20....
View ArticleLloyd's reviews world's risks
Lloyd's and the UK's Cambridge University have predicted the economic impact of potential man-made and natural threats on 301 of the world's cities. The interactive City Risk Index 2015-2025 examined...
View ArticleSilent commissions spark ban
A financial adviser who recommended clients invest in properties where he received sale commissions from the developer has been banned for life. ASIC commissioner Greg Tanzer said Nicholas Hunter...
View Article$1.5m train injury award reinstated
The High Court (HCA) has overturned a NSW Appeal Court's refusal to compensate a man injured when he fell from a train when he was eight years old. In November 2013, NSW Supreme Court Justice Robert...
View ArticleBikie brothel brothers lose fire claim
Two ACT brothel-owner brothers who did not disclose outlaw motorcycle gang memberships to their insurer have lost a $500,000 claim for fire damage to the brothel. The Gentleman's Club parent company...
View ArticleASIC review seeks ‘fairer funding'
The Financial Services Council (FSC) supports a proposed industry-funded model for ASIC and wants the regulator to have stronger external accountability processes and a clearer mandate. FSC CEO Sally...
View ArticleGI intermediaries hit by soft market
The soft market saw general insurance (GI) intermediaries take a $68m hit in 1H15, the latest APRA statistics reveal. Australia's 1,607 licensed intermediaries invoiced $8.71bn in premiums in 1H15,...
View ArticleSuper ‘far from replacing pensions'
More than half the retired population's living standards would suffer if even a portion of pension payments was removed, a new report has found. The Actuaries Institute's (AI) For richer, for poorer...
View ArticleTime to talk death and life cover
ANZIIF's Know Risk advisory network has developed a checklist to encourage people to talk about death and life cover. It follows Rice Warner figures showing a $1.8bn gap in death and disability...
View ArticleMore NZ flood relief funding
The NZ Government has provided another $NZ2.6m ($A2.37m) to help communities affected by June storm flooding in Taranaki, Whanganui and Manawatu. It is on top of $NZ4.5m provided soon after the...
View ArticleUS to ‘guide' cyber risk reaction
Australia's lack of cyber risk insurance case law could see judges turn to US court decisions for guidance, an insurance lawyer says. McCabes principal Andrew Sharpe said cyber risk would increasingly...
View ArticlePlatform exposes cat risks
Aon Benfield has launched a new platform to help reinsurers monitor aggregate catastrophe exposure across their portfolios. Platform architect Adrian McFarlane said PACE (portfolio accumulation for...
View ArticlePeople
Chubb's former Australian MD/CEO Mark Lingafelter has been appointed QBE's Asia Pacific MD from September 1. He had more than 30 years with Chubb, the past 10 as Aust head.
View ArticleCGU wins GI award
NIBA brokers have voted CGU Australia's top general insurer. Other finalists, announced at this week's NIBA Convention (see above) , were Allianz and QBE. Brokers voted on 10 criteria; 1,100 votes were...
View ArticleUse apps or lose out: Deloitte
Insurers should get over their digital revolution fears and embrace smartphone technology, or lose out to newer, more advanced market entrants, Deloitte has warned. Deloitte surveyed 2,995 UK insurance...
View ArticleLawyer warns on robo-advice risks
Insurers must be careful not to embrace new technology to the extent it does more harm than good, an industry lawyer has warned. HWL Ebsworth partner David Muir told CN the digital age presented as...
View ArticleStrong reinsurers will survive: S&P
Only reinsurers strong enough to evolve and adapt to change will survive a depressed market likely to continue for another year, Standard & Poor's (S&P) has warned. In its Reinsurance shark...
View ArticleEditorial team
Editor: Eva Wiland. Email eva.wiland@thomsonreuters.com . Acting Editor: Kate Tilley. Journalist: John Reynolds. Managing Editor: Helen Jones. Twitter: @Cover_NoteTR
View ArticleBroker surveys ‘rubbish'
NIBA CEO Dallas Booth says surveys that show people do not trust brokers or put them low on the scale of ethical professionals are “rubbish”. At the annual NIBA Convention in Melbourne this week...
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