Ivory Insurance to offer underwriting capacity and specialised expertise to MGAs, targeting professional indemnity, IT liability, and general liability cover for SMEs.
In the past five years, nearly 54% of losses from declared insurance events were due to floods, representing the disproportional nature of the 4.4% of properties at high risk.
The acquisition of the Melbourne-headquartered broker will strengthens Marsh's corporate, real estate, and strata presence in Australia and New Zealand.
Renato De Maria, former insurance broker and director of AIBS, receives permanent ban from the financial services industry following allegations of misappropriating AU$35m (US$29.97m) of client funds.
Insurance Council of Australia's Andrew Hall delivered an impassioned speech on the country's protection gap — urging short-term tax reform alongside other medium and long-term recommendations.
AU$587m (US$384m) is being invested in the nation's cyber security, with Australia's insurance industry set to benefit thanks to increased awareness and knowledge sharing.
