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Australia tag returned 1015 results

  • Pacific: Overall commercial insurance pricing in region rises by 31% in 2Q

    Overall insurance pricing in the second quarter of 2020 in the Pacific region-made up largely by Australia--increased 31%, continuing an upward trend that began in 2015, according to Marsh's quarterly Global Insurance Market Index, a proprietary measure of global commercial insurance premium pricing change at renewal, representing the world's major insurance markets and comprising nearly 90% of Marsh's premiums.

    Asia | 14 Aug 2020
  • Australia: Superannuation funds stop classifying by default new members as 'smokers'

    Superannuation trustees had been classifying new members as 'smokers' by default and charging them higher life insurance premiums. However, the funds have since ceased this practice, and some trustees have remediated members for the extra premiums paid, according to the Australian Securities and Investments Commission (ASIC).

    Asia | 13 Aug 2020
  • Australia: Regulator partially recommences activities

    The Australian Prudential Regulation Authority (APRA) has recommenced public consultations on select policy reforms and begun a phased resumption of the issuing of new licenses.

    Asia | 12 Aug 2020
  • Australia: Insurer sees 'modest negative' COVID-19 effect on results

    In an official announcement on FY20 results, Insurance Australia Group (IAG) noted that its top-line gross written premium (GWP) growth was in line with its guidance despite incurring a slightly negative effect from COVID-19 in the second half from lower new business volumes.

    Asia | 11 Aug 2020
  • Australia: Reform makes it harder to obtain life insurance

    New research released by industry campaign Choice & Access to Life Insurance (CALI) warns that if governments and regulators fail to act, then underinsurance will continue to increase across parts of the community as access to advised life insurance becomes further limited.

    Agents | 11 Aug 2020
  • Australia: Insurance Council and AFCA agree to BI test case

    The Insurance Council of Australia (ICA) and the Australian Financial Complaints Authority (AFCA) have agreed to file a test case considering the application of infectious diseases cover in business interruption policies.

    Asia | 10 Aug 2020
  • Australia: Life claims data analysis shows gender differences

    New claims statistics provide insights into the differences between men and women across all three life insurance product lines, according to data released by the Financial Services Council (FSC) in conjunction with Life Insurance Awareness Week last week.

    Asia | 07 Aug 2020
  • Australia: Industry survey to examine COVID-19 working from home impacts

    ANZIIF, a professional insurance and financial services association, will be collaborating with SURA, Wotton + Kearney and Liberty Specialty Markets to investigate how experiences of workplace inclusion are affecting the Australian insurance industry especially amidst the COVID-19 pandemic.

    Asia | 06 Aug 2020
  • Australia: Income protection accounts for more than 1/3 of total claims on life insurers in 2019

    The life insurance industry in Australia paid out more than A$12bn ($8.7bn) to 101,821 Aussies and their families during 2019, according to data released by the Financial Services Council (FSC) as part of activities during Life Insurance Awareness Week last week. Income Protection/Disability Income insurance payouts accounted for more than a third of the total sum paid.

    Asia | 06 Aug 2020
  • Australia: Around half of insurers worry about COVID-19 impact on their employees

    A recent survey by global law firm Clyde & Co found that over 52% of insurance industry participants expressed concern about the impact that COVID-19 is likely to have on their employees.

    Asia | 03 Aug 2020

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