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Australia tag returned 633 results

  • Australia: Insurance Council calls on new govt to look at tax reforms on insurance products

    Following the re-election of Australian Prime Minister Scott Morrison, the Insurance Council of Australia (ICA) CEO and executive director Rob Whelan has reiterated the council's commitment towards working with the Morrison government on implementing reforms from the Hayne Royal Commission. In a statement congratulating Mr Morrison and the coalition on the election victory, Mr Whelan has called upon the new government to renew the tax reform agenda, with a focus on encouraging the removal of inefficient and unfair state taxes and levies on insurance products.

    Latest News | 21 May 2019
  • Australia: Farmers have to be better informed of insurance & weather products

    Insurance and weather derivative products can provide effective and cost-efficient methods for practically eliminating risk for certain events for farmers. In many cases though, where these products are available, they remain underutilised or in market failure, states the Australian Farm Institute (AFI), an agricultural policy research organisation.

    Asia | 21 May 2019
  • Aon grows Australian offer with launch of new cyber solution group

    Aon has appointed trusted cyber advisor Mr Chris McLaughlin to lead its newly established cyber solutions group.

    People | 17 May 2019
  • Australians: More intend to retire despite inadequate savings levels

    The number of people planning to retire in the next 12 months is estimated at 439,000, a 6% increase on the 2018 level of 414,000 and 11% above the 2017 figure of 395,000. This increase is despite the savings levels of these retirees-to-be being well below the recommended level to be self- funded, according to survey findings by market research firm Roy Morgan.

    Asia | 17 May 2019
  • Australia: Insurance costs to rise due to climate change

    The annual average risk costs of extreme weather and climate change to properties is projected to rise to A$91bn ($63.48bn) per year in 2050 and A$117bn per year in 2100, revealed findings from the Climate Council of Australia's report on the domestic costs of climate change. These costs will be reflected through higher insurance premiums and will primarily impact the same households that will experience the steepest losses in property values due to events caused by climate change.

    Asia | 14 May 2019
  • Australia: Risk readiness at all time low as businesses face increasing market volatility

    Economic slowdown and volatile market conditions have led to the lowest levels of global risk readiness in 12 years, impacting the C-suite's ability to manage volatility and maximise performance, according to findings from Aon's 2019 Global Risk Management Survey.

    Agents | 13 May 2019
  • Australia: Rising maturity of InsurTechs spells greater industry collaboration

    Australia saw a 53% growth in the number of InsurTechs operating in the country as well as a 75% increase in 'active partnerships' between incumbents and InsurTechs, revealed findings from a recent Australian InsurTech ecosystem report by EY and Insurtech Australia. In the report's foreword, EY partner Jamie Smith and Insurtech Australia CEO & co-founder Simon O'Dell said that Australia's InsurTechs are maturing and playing an increasingly important role in the future of incumbents, especially in the health and life insurance markets.

    Asia | 13 May 2019
  • ARPC executive team update

    Dr Christopher Wallace, chief executive of Australian Reinsurance Pool Corporation, has announced changes to the ARPC senior executive team.

    People | 10 May 2019
  • Australia:Life insurance distributor transfers its policy administration business to reinsurer

    Freedom Insurance Group (FIG) has executed a transition agreement to transfer its policy administration business to Swiss Re Life & Health Australia for a net settlement consideration of A$5m ($3.5m), according to an Australian Securities Exchange (ASX) statement.

    Agents | 08 May 2019
  • Australia: Insurers prize customer experience and innovation, says new report

    Australian insurers made significant progress in embracing digitalisation by focusing more on the customer and by building an underlying innovation framework, said a recent industry report by TAS, an Australian technology services provider for the financial services industry.

    Asia | 08 May 2019

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