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  • New Zealand: Quakes drain disaster fund totally

    New Zealand’s emergency cash stashed away for major natural disasters is forecast to be “fully exhausted” once all of the Canterbury and Kaikoura earthquake claims are settled, according to internal government documents.
     

    Source : AIR | 01 Jan 2018
  • New Zealand: Insurers battle "white lies" in claims

    Dishonesty is a serious problem for insurers, with some consumers believing that they have a “right” to lie on their insurance claims.
     

    Source : AIR | 01 Oct 2017
  • New Zealand: Rising seas could render coastal communities uninsurable

    Whole communities on New Zealand’s coasts could become uninsurable no-go zones as rising sea levels cause more frequent coastal flooding and tidal surges.
     

    Source : AIR | 01 Dec 2017
  • Asia: InsurTech investments surging strong

    InsurTech funding in 2017 rose 36% from the year before to reach US$2.3 billion, according to the latest data published by Willis Towers Watson.
     

    Source : AIR | 01 Mar 2018
  • Australia: Some health insurers should consider mergers - APRA

    Mergers should be at least under active consideration by health insurers with low or negative member growth, and which only have small membership bases to begin with, Mr Geoff Summerhayes, APRA Executive Board Member, has said.
     

    Source : AIR | 01 Mar 2018
  • Look out for these what-if scenarios - WEF's 10 potential future shocks

    The growing complexity and interconnectedness of our global systems can lead to feedback loops, threshold effects and cascading disruptions. Sudden and dramatic breakdowns – future shocks – become more likely, according to the Global Risks Report 2018 published by the World Economic Forum.
     

    Source : AIR | 01 Mar 2018
  • New Zealand:New insurance statistics made available by Central Bank

    The central bank, the Reserve Bank of New Zealand, has begun publishing new quarterly statistics that will provide insights into the structure and activities of the insurance industry.
     

    Source : AIR | 01 Apr 2018
  • New Zealand: Blockchain solution being developed for insurers

    New Zealand’s largest bank, ANZ, and IBM are working with Suncorp New Zealand to develop a blockchain solution for the insurance industry that will help make the data transfer and payment reconciliation process faster and more transparent between brokers and insurers.
     

    Source : AIR | 01 Jun 2018
  • New Zealand: IAG wants foreign insurers to hold assets locally

    New Zealand’s largest general insurer, IAG, wants overseas insurers with local business to be required to hold a certain amount of assets in the country.
     

    Source : AIR | 01 Jul 2017
  • ANZIIF raises money for charity

    Hosted by ANZIIF, the South Australia Charity luncheon saw insurance professionals from over 30 Insurance companies from across the state, as well as from Victoria, New South Wales, Western Australia and Queensland, come together to raise much needed funds for SIDS & KIDS South Australia for the second year in a row. 
     

    Source : AIR | 01 Jul 2017
  • New Zealand: Lloyd's says man-made threats pose biggest risk to largest cities

    Man-made threats account for over half (53%) of the risk to the annual economic output (GDP@Risk) of New Zealand’s largest cities, according to Lloyd’s.
     

    Source : AIR | 01 Jul 2018
  • New Zealand: Competition regulator wary of coordinated effects in proposed Vero-Tower merger

    The Commerce Commission has expressed concern over the proposed merger of Vero and Tower, saying that if it succeeded, it would result in an enduring structural change to home, contents and motor vehicle (HCMV) markets with a shift from three main competitors to two, and that the competitive effects of the merger would play out over a longer timeframe. 
     

    Source : AIR | 01 Sep 2017
  • New Zealand: Health insurer in telemedicine trial for employees

    Listed health insurer, nib, has carried out a trial on a teleconference-style health programme aimed at improving corporate workers’ health without their having to leave work.
     

    Source : AIR | 01 Sep 2018