The number of insurance claims for wild-weather related damage received by NRMA Insurance between January and May this year has surpassed the total number of wild-weather claims received by it in the full year 2024. New data released by NRMA Insurance said it received more than 32,000 claims for wild weather-related damage between January and May this year.
Australia's Cyclone Reinsurance Pool (cyclone pool) has released an updated summary following cyclone Alfred, which brought rainfall and destructive winds to communities in southeast Queensland and northern New South Wales.
The Australian Prudential Regulation Authority (APRA) has proposed to allow reduced capital requirements for annuity products in return for enhanced risk management by life insurers, including closer matching of assets and liabilities.
The Motor Trades Association of Australia (MTAA) has expressed deep disappointment at the decision by the Australian Competition and Consumer Commission (ACCC) to approve Insurance Australia Group's (IAG) acquisition of RACQ's insurance operations.
HDI Global has announced Mr Haris Michaels will take on an expanded role in Southeast Asia, and Mr Stevan Bonic has been promoted to underwriting manager engineering, Australasia.
There are significant barriers that impact both the resilient construction of new housing, and the adaptation of existing properties, says the Actuaries Institute in a submission to the Productivity Commission.
Global claims services provider McLarens has appointed Mr Torben Bell as managing director of its operations in Australia.
The latest review of insurers' claims handling practices by the Australian Securities and Investments Commission (ASIC) has found that while insurers implemented programmes to improve claims handling functions in recent years, and some progress has been made, there is still significant room for further improvement.
Millions of Australians would face financial ruin if their home was impacted by a natural disaster, while floods, fires and storms are growing in severity and frequency according to a new research by The Australia Institute.
International specialty (re)insurance MGA Rokstone has appointed Mr Rama Chandran as leader of its operations in APAC, following the completion of his notice period at QBE International. In his new role, he will lead Rokstone's its expansion across the market.