The Insurance Council of Australia (ICA) has established a new counter-fraud and scams function to provide an industry-wide capability focused on detecting organised fraud networks and identifying emerging fraud-related trends or criminal scams.
Australia's peak motoring body, the Australian Automobile Association (AAA), says new figures revealing an 11.2% annual increase in road deaths send an unambiguous message that state governments must agree to Federal demands to share critical data about the causes of road trauma.
Strengthening protections around AI must start with sharpening or otherwise adjusting existing regulatory frameworks, says the Insurance Council of Australia (ICA).
The Actuaries Institute says that it welcomes the cost-of-living relief and equity measures announced in the Federal Budget which was announced on 14 May.
New York-listed and Bermuda-headquartered reinsurer, Everest, has launched officially its Australian Insurance operations after receiving approval from the Australian Prudential Regulation Authority. The business will operate under the name Everest Insurance Australia with offices established in Sydney and Melbourne.
Super Consumers Australia, an independent superannuation consumer advocacy organisation, urges financial advisers and superannuation funds to urgently lift their game to protect Australians' retirement savings from dodgy advice.
Over the medium to long term, substantial growth in the property and casualty reinsurance in the APAC region continues to be anticipated, says Hannover Re in its outlook on the sector.
The Ardonagh Group, one of the world's largest independent insurance broking platforms, has entered into a Scheme Implementation Deed (SID) to acquire all of the issued ordinary shares in PSC Insurance Group.
Insurers need to "think bigger" to develop a system-wide understanding of the challenges and cooperate on solutions, not just within the insurance industry but also by engaging the wider ecosystem, APRA executive board member Suzanne Smith has said.
Arch Insurance has appointed Mr Michael Faulkner as distribution and engagement lead. In this newly created role, he will be responsible for managing and developing strategic relationships with brokers in Australia and the Pacific region, creating business development opportunities for all product lines and driving distribution growth.