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Australia tag returned 652 results

  • Australia: APRA urges insurers to develop plans to tackle financial sustainability

    The Australian Prudential Regulatory Authority (APRA) has warned private health insurers (PHIs) to urgently address rising challenges that threaten the sector's financial sustainability. Insurers that continue to take a passive approach can expect more assertive action from APRA, the regulator says.

    Asia | 19 Jun 2019
  • Australia: ASIC encourages retirement calculations that allow for maintaining living standards

    The Australian Securities and Investment Commission (ASIC) has amended the relief conditions for superannuation and retirement calculators. Specifically, ASIC has removed the requirement that superannuation and retirement calculators discount at a fixed rate of CPI - 2.5% - and instead encourages providers of these tools to use a higher rate that allows for rising community living standards beyond keeping up with inflation.

    Asia | 18 Jun 2019
  • Australia: Travel insurers work to extend coverage for mental health

    The Insurance Council of Australia (ICA) is leading an industry-wide approach to further extend coverage in travel insurance policies for mental health conditions.

    Asia | 17 Jun 2019
  • Australia: Drivers can now get full kangaroo crash cover

    Huddle Insurance, which calls itself a technology company that uses AI to improve insurance services, has launched Australia's first product to cover fully drivers in the event of a collision with a kangaroo or other animals.

    Asia | 14 Jun 2019
  • Australian insurer divests subsidiary after it fails to comply

    Australia's Freedom Insurance Group (FIG) has decided to close down the business carried on by its 100% owned subsidiary, Spectrum Wealth Advisers with immediate effect. FIG comprises the Freedom Insurance and Spectrum Wealth Management brands.

    Asia | 07 Jun 2019
  • Australia: Financial regulators hailed for leading in climate risk action

    Australia's financial regulators are taking the lead in a global push to put climate risk at the centre of financial supervision, Mr Jonathan Dixon, secretary general of the International Association of Insurance Supervisors, has said.

    Asia | 07 Jun 2019
  • Australia sees first insurer offering Google Assistant-integrated service

    As part of its customer service offering, Real Insurance Australia has introduced a Google Assistant app which specifically answers important questions on life insurance from customers through their Android mobile device or Google smart speaker at any place and time. Real Insurance is said to be the first life insurer in the country to execute a Google Assistant integration.

    Asia | 06 Jun 2019
  • Australia: Proposals forwarded over costly premiums in the north

    The National Insurance Brokers Association (NIBA) has called for a fresh review of government intervention to address high premiums in northern Australia.

    Asia | 06 Jun 2019
  • Rising seas threaten Australia's major airports

    Most of the major airports in Australia are located on reclaimed swamps. This makes them only a few metres above the present-day sea level. And the risk of sea level rise from climate change poses a greater threat to these airports than Australia is prepared for.

    Asia Risk | 05 Jun 2019
  • Australia: Insurance body develops weather risk app

    The Insurance Council of Australia (ICA), which represents general insurers in the country, has developed a breakthrough mobile phone and tablet app, called MyHazards, that summarises the severe weather-related and natural disaster risks that could potentially affect homes and businesses.

    Asia | 05 Jun 2019

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