Australia

Crawford Australia promotes Matt Donnelly

May 13 2024

Donnelly takes on new role as Head of Global Technical Services (GTS), Australia, having rejoined the loss adjuster in September.

NSW takes step toward lower property insurance premiums with introduction of Insurance Monitor Bill

May 10 2024

Bill looks to reduce premiums by replacing emergency services levy, with an independent body also appointed to ensure savings are passed on to insureds.

senate-inquiry-calls-for-government-support-to-address-australias-live-music-insurance-crisis

Senate inquiry calls for government support to help address Australia's live music and festival insurance crisis

May 10 2024

Changing risk appetite have seen insurance premiums rise as much as ten times.

Australia's Guild Insurance has ratings affirmed as business shows improvement in expense ratio

May 10 2024

Insurer has seen fluctuations in operating performance in recent years.

carbon-credit-insurer-oka-enters-australian-market-through-clima-and-psc-partnerships

Carbon credit insurer Oka enters Australian Market with Clima and PSC partnerships

May 10 2024

Oka announces international debut through partnership with carbon solutions platform Clima, with PSC Paragon helping to distribute the solutions.

australian-regulator-releases-observations-on-review-of-phi-capital-framework

Australian regulator releases observations on review of Private Health Insurance capital framework

May 9 2024

Enhanced data quality and accuracy one of the areas of improvement identified by APRA in its review of the PHI capital framework.

australias-cyclone-reinsurance-pool-achieves-significant-coverage-but-still-faces-challenges-in-lowering-premiums

Cyclone Pool achieves broad coverage but some questions remain over premium reductions

May 9 2024

Pool reaches 95% coverage of eligible risks; however, data quoted by ARPC on premium reductions appears to conflict with findings from the ACCC and ACIL.

ardonagh-set-to-acquire-australias-psc-insurance-in-deal-valued-at-au2-26bn

Ardonagh to acquire Australia's PSC Insurance for AU$2.26bn

May 8 2024

Anticipated acquisition confirmed in an ASX announcement, with AU$2.26bn (US$1.48bn) deal expected to be completed in late September.

arpc-warns-about-australias-cyber-terrorism-insurance-coverage-gap

ARPC warns about Australia's cyber terrorism insurance gap

May 8 2024

Exclusion of physical damage from cyber terrorism exposes businesses and has potential for (re)insurance industry backlash.

arch-insurance-australia-hires-michael-faulkner-in-newly-created-role-of-distribution-amp-engagement-lead

Arch Insurance Australia hires Michael Faulkner in newly created Distribution & Engagement Lead role

May 7 2024

Faulkner brings over two decades of Australian insurance industry experience to his new role.

gallagher-continues-australian-shopping-spree-with-the-aquisition-of-hica

Gallagher continues Australian shopping spree with the acquisition of HICA

May 7 2024

Arthur J. Gallagher continues to strengthen Australian presence with acquisition of Health Insurance Consultants Australia.

launch-of-australias-ev-centre-of-excellence-set-to-ease-pressure-on-combined-ratios-and-premiums

Australia's EV Centre of Excellence poised to help ease pressure on combined ratios and premiums

May 7 2024

New EV-learning facility will mitigate risk of minor accident write-offs, with Australia's government initiatives offering a blueprint for APAC.

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