Country: Australia Page 23 / 87
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- November 30 2023
RACQ hit with US$6.6m penalty for pricing misconduct
Tthe Australian Federal Court found that the mutual insurer misled customers about discounts available for motor, home, caravan and trailer and unique vehicle insurance policies.
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- November 30 2023
Surge in claims volume testing APAC service capabilities
Increasing nat cat losses, rising cyber claims and inflation leave regional response infrastructure in danger of being overwhelmed, lengthening lead times significantly and driving up costs.
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- November 29 2023
Siddhartha Medappa returns to Zurich as APAC head of risk
Sydney-based Medappa joins from Tokio Marine, where he was chief underwriting and reinsurance officer.
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- November 29 2023
Wild weather hits eastern Australia; further storms, hail and heavy rainfall expected
The Bureau of Meteorology said the downpour expected this week is going to be well in excess of a month's worth of rainfall.
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- November 28 2023
Parametrics primed for APAC’s insurance mainstream: Descartes
As the search for nat cat capacity grows in the region, the MGA is looking at 'solid double-digit' premium growth this year on more demand from Australia, New Zealand, the Pacific islands and the Philippines.
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- November 28 2023
IAG blames Credit Suisse’s due diligence failures for Greensill losses: reports
The insurer, in an Australian court filing, said that the Swiss bank should have known that the Bond and Credit company did not have the authority to issue the policies.
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- November 27 2023
Over 85% of Australian carriers on track to achieve net-zero by 2050: ICA
An updated climate change roadmap provides goals and best practice guidelines to reduce greenhouse gas emissions for operations by the end of this decade and across the entire value chain by 2050.
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- November 27 2023
HDI Global onboards marine underwriting manager in Melbourne
Joel Richards joins from Australian specialist transport insurer NTI, where he was most recently national strategic underwriter - marine.
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- November 24 2023
Everest hires Liberty’s Michael McCarthy as senior casualty underwriter in Australia
Sydney-based McCarthy joins the insurer from Liberty Specialty Markets where he was most recently senior underwriter, casualty.
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- November 23 2023
APAC markets need to wake up to changing nat cat exposures
After a bruising 2022 and 2023 nat cat loss experience to date, there can no longer be any argument that Asia faces a new flood risk reality.
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- November 23 2023
Australia commits US$385m for 2030 cybersecurity strategy
"We are rallying our international network of cyber guns to help break the business model of ransomware and cybercrime," says home affairs minister Clare O’Neil.
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- November 22 2023
IAG Australia hires Liberty’s Ashley Leszczuk as lead liability underwriter
Sydney-based Leszczuk will start his new role on November 27.
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- November 22 2023
Markel set to build out marine cargo, general casualty lines in Asia
The specialty (re)insurer's underwriting leaders discuss the carrier's regional growth plans, Australian ambitions and India outlook.
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- November 22 2023
Chubb Australia names Andrew Whitlock as senior casualty underwriter for major accounts
Whitlock, who was most recently senior casualty underwriter for corporate and construction at Chubb's London office, will relocate to Sydney to assume his new role.
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- November 22 2023
El Niño likely to continue till March 2024, says Australian weather bureau
The sea surface temperatures are hovering above El Niño thresholds into the early Southern Hemisphere autumn of 2024 while the event is gaining moderate strength.
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- November 20 2023
IAG names Jacqueline Rush as executive manager to transform complaints system
Melbourne-based Rush will report to the Australian carrier's chief customer and marketing officer Michelle Klein.
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- November 17 2023
Fitch affirms QBE’s rating as underwriting performance improves
The Australian carrier improved its COR to 86% and posted insurance services result of US$337m in H1 2023.
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- November 17 2023
Claims inflation, nat cat losses, reinsurance costs weigh on Suncorp’s profitability: Fitch
The rating agency maintained the Australian carrier's rating but underwriting profitability is expected to deteriorate in the next 12 to 24 months.
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- November 17 2023
Cover-More global CEO Cara Morton to run Zurich Global Ventures
Sydney-based Morton will relocate to Zurich and start in her new role on February 1, 2024 and will report directly to Zurich Insurance Group CEO Mario Greco.
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- November 16 2023
Steadfast buys 70% stake in Australian MGA Sure
The acquisition will include a US$96.3m upfront cash payment and potential earn-out payments through FY 2025.
