Australia
Australia’s calamities widen the gap in availing home insurance: Report
Australia’s calamities widen the gap in availing home insurance: Report
Since January 2020, insurers have dealt with approximately 788,000 claims due to natural disasters.
Australia updates regulations for better transparency of remuneration practices
APRA will offer flexibility in disclosure timing, requiring annual disclosures within six months of an entity's financial year-end.
Insurers, groups ally for planning reform – ICA
A roundtable discussion called on state and territory governments to reconsider planning rules.
Insurance House welcomes Melbourne Insurance Brokers
Melbourne Insurance Brokers will continue to operate as usual under Insurance House’s name.
Lack of marine-specific policies threat to communities – MIA
The Cyclone Reinsurance Pool is now at risk due to the current government's decision not to proceed with the inclusion.
Australian group insurance can cut costs by 50%: study
As super fund members aged, their annual premiums for group insurance decreased.
Australia unveils new standards for banks, insurers’ operational risk management
The new standard will take effect on 1 July 2025.
Major floods drive Australia's iinsured losses to $7.17b in 2022
The council will review insurers’ flood response during the period.
QBE selects Peter Wilson as non-executive director
The appointment is subject to regulatory approvals and is expected to be effective from 1 September.
AAGIL portfolio transfer to Allianz kicks off in September
AAGIL plans to transfer its general insurance portfolio to Allianz.
Zurich names new head of general insurance for Australia, New Zealand
Alex Morgan is currently chief risk officer for Zurich Asia Pacific.
IAG subsidiary CGU Insurance inks partnership with ANZ
CGU will offer general insurance products to ANZ's retail banking customers.
Australia’s Fed penalises Insurance Australia Group
Its wholly-owned subsidiary provided misleading information over pricing discounts.
Reinsurer Canopius builds global cyber incident team
It consists of members from Sydney, London, and Chicago.
Australian regulator flags Medibank for cyber incident
Medibank will face an AU$250m ($168m) increase in its capital adequacy requirement.
Australia's insurance council hails A$400m in extreme weather protection
From 2019 to 2020 alone, bushfires caused AU$13b in damage.
Australia’s Mavco Insurance gets acquired by Gallagher
Gallagher Australia’s offices will absorb Mavco’s employees.
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Commentary
For Asia’s insurers, boldness is the key to an AI-driven transformation
India’s cyber risk paradox: High attack rates, low insurance preparedness