Country: Australasia Page 36 / 111
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- December 21 2023
IAG finds interim group general counsel after Horton’s departure
The Australian insurer, which is facing litigation over US$4.7bn in claims, has commenced an internal and external search for a permanent replacement.
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- December 20 2023
Australian insurers well placed to meet Jasper flood claims: S&P
Only insurers with high market shares in far north Queensland might trigger their reinsurance cat covers, the rating agency said.
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- December 19 2023
Zurich relocates New Zealand exec as Victoria state manager
Brett Wainhouse will start in his new Melbourne-based role in January 2024 after spending nearly a decade at the insurer's Auckland office.
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- December 19 2023
Everest takes Allianz Commercial’s Joanna Mercer as Australia head of claims
Sydney-based Mercer joins the insurer from Allianz Commercial, where she was most recently regional head of claims, Pacific.
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- December 18 2023
Australian carriers see claims rise from flash floods following Cyclone Jasper
The ICA has declared a significant event in northern Queensland as Suncorp reported more than 500 claims and IAG about 100 from record flooding in Cairns.
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- December 18 2023
HDI Global Australia strengthens regional liability teams with promotions
Tami Sorensen has been elevated as southern region liability manager and Zubin Mathew has been promoted to liability manager, Victoria.
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- December 18 2023
Lisa Mitchell joins Markel as head of claims as Australia build-out completes
Mitchell's appointment marks the completion of the initial phase of building out the specialty insurer's Australian operations.
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- December 18 2023
Australian broker code review puts commission disclosure debate in the spotlight
Finding common ground that satisfies both sides of the debate will be a hard path for NIBA with a faction threatening to break away.
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- December 18 2023
IAG handed ratings upgrade by S&P on strong capital adequacy
The core entities of the Australian carrier's ratings were changed to AA from AA- and long-term issuer credit ratings to A+ from A with a stable outlook.
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- December 15 2023
EQC hit with New Zealand’s biggest-ever class action for underpaying claims
The Christchurch High Court authorised the lawsuit that alleged that the earthquake commission saved US$932m by underpaying land damage claims from the 2010-11 Canterbury earthquakes.
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- December 14 2023
Australian cyclone pool expects to cover 94% projected ultimate exposure by year-end
Nine out of 11 large insurers have already joined the ARPC while IAG and Autor & General will join by December 31; The pool made an underwriting loss of US$2.75m from a GWP of US$100m in FY 2023.
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- December 13 2023
BHSI Australia hires AIG’s Michael Hannigan as underwriting manager for corporate property
In his new role, Melbourne-based Hannigan will cover corporate property across Victoria, South Australia and Tasmania, reporting to national manager for corporate property Anna Spink.
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- December 12 2023
Australia prepares for Cyclone Jasper as ARPC declares cyclone event
The tropical cyclone is expected to cause extremely strong winds, heavy rain, and storm surge, with severe weather warnings already in place in northern parts of Queensland.
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- December 12 2023
Kiwi insurers settle claims worth US$1.7bn from twin weather events: ICNZ
87% of 115,353 claims worth US$2.2bn for Auckland Anniversary Weekend floods and Cyclone Gabrielle, two largest insurance weather events in the country's history, have been settled.
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- December 11 2023
Wild weather troika of heatwave, bushfire, cyclone bear down on eastern Australia
Bureau of Meteorology (BOM) has put out a heatwave warning, a severe thunderstorm warning, a minor flood warning over the weekend even as Cyclone Jasper loomed.
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- December 8 2023
Howden names Wallace McLean’s Nigel Wallace as New Zealand CEO as brokers complete merger
The broker's current CEO René Hattingh will become head of technical delivery, initially concentrating on servicing clients in the scheme and affinity space and reporting directly to Wallace.
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- December 8 2023
North Australian home insurance rates ‘substantially more’ than rest of country despite cyclone pool: ACCC
Insurance prices in the north, across home, strata and SME covers, remain high but the rate increase in 2022–23 is less than in the rest of Australia, the competition regulator said.
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- December 7 2023
Australia’s financial advice reform package to facilitate access to insurance: ICA
The recent changes, among them modernised best interests duty, will allow insurance customers receive advice directly from the carriers and be better informed which ICA sees as an important matter in the context of the growing protection gap.
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- December 6 2023
IAG general counsel Peter Horton leaves over ‘misconduct’
"Horton’s behaviour has fallen short of the expectations in IAG’s employee code of ethics and conduct", IAG chief executive Nick Hawkins said.
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- December 5 2023
Pop Holdings adds Nicole Coleby as managing partner in Melbourne
In this newly created role, Coleby will be in charge of operations and managing teams at Fusion Specialty and io.insure, reporting to Pop's co-founders Killian McDermott and David Rogers.
