HOW TO MAKE CUSTOMERS FEEL LIKE YOU’RE ON THE SAME TEAM
October 13, 2016Share this article Attracting customers and keeping them requires continual effort. Often, that means investing time and energy into promotions, networking events, client meetings and sales negotiations. Getting…
NEW INDUSTRY RANKS CYBER ITS BIGGEST THREAT
A global survey has found that cyber risk is the biggest concern for transportation companies, a revelation that could open up new markets for brokers. The Transportation Risk Index 2016, conducted by Willis Towers Watson,…
FOREIGN INTELLIGENCE SERVICE RESPONSIBLE FOR AUSSIE GOVT HACK
A foreign intelligence service has been blamed for a cyber attack levelled at the Bureau of Meteorology, according to reports. Whilst the foreign power was not named, The Australian Cyber Security Centre (ACSC) said in a new…
AON ANNOUNCES CYBER ACQUISITION
Aon has announced the acquisition of Stroz Friedberg, a global cyber risk management firm. The brokerage giant acquired the global firm through its risk management business, Aon Risk Solutions. Financial…
LEMONADE ANNOUNCES MAJOR APPOINTMENT
Lemonade, a newly licensed insurance company for homeowners and renters, has announced the latest addition to its all-star insurance team in its New York office. John Peters, whose ‘accomplishments are exceptional in the…
BREAKING NEWS: FOREIGN INTELLIGENCE SERVICE RESPONSIBLE FOR AUSSIE GOVT HACK
A foreign intelligence service has been blamed for a cyber attack levelled at the Bureau of…
REVIEW: GENERAL INSURANCE SECTOR THROUGHOUT 2016
The insurance industry’s profits rose 18 percent in 2016, recovering from a low point in…
NEW LIFE INSURANCE CODE RIDDLED WITH LOOPHOLES
Life insurance has stood out as an industry without a code of practice when others such as general…
FINANCIAL SECTOR INCLUDING INSURANCE INDUSTRY PRIME TARGET FOR CYBER ATTACKS
Cyber attacks1 are increasing in frequency, sophistication and impact, with perpetrators…
HOW TO TALK TO YOUR CLIENTS ABOUT MITIGATING BRAND DAMAGE DURING A CRISIS?
Increasingly brokers are expert risk advisers for individuals and businesses who need to sometimes…
TRANSPORTATION INDUSTRY RANKS CYBER ITS BIGGEST THREAT
A global survey has found that cyber risk is the biggest concern for transportation companies, a…
SOUTH AFRICAN INSURER REPORTS MISCONDUCT BACK HOME TOO
After pleading guilty to more than a dozen major misconduct charges and getting fined $100,000 in…
CBL ACQUIRES REGULATORY APPROVAL FOR $150M ACQUISITION
CBL Corporation Limited has been given the regulatory approval to proceed with its $150 million…
CBL ANNOUNCES UPDATE ON $150M ACQUISITION
CBL Corporation Limited has been given the regulatory approval to proceed with its $150 million…
LEMONADE REVEALS EARLY STATS
Lemonade, the industry disruptor which is taking aim at the traditional insurance industry, has…
INSURANCE BUSINESS’ ELITE BROKERS: TWO DAYS LEFT TO ENTER
Entries for Insurance Business’ inaugural Elite Brokers ranking will close in just two days…
FMA NOW A FULLY-FLEDGED CONDUCT REGULATOR
The Financial Markets Authority (FMA) has finally evolved into a fully-fledged conduct regulator,…
HEALTH AND SAFETY WINNERS NAMED IN PRESTIGIOUS 2016 AWARDS
An injured worker who underwent multiple surgeries in his determination to get back to work, a Victoria Police employee who fought for a healthier office for colleagues, and a robotics company that invented a safer system for…
HOW MATHEMATICS CAN FIGHT THE ABUSE OF BIG DATA ALGORITHMS
“Is maths creating an unfair society?” That seems to be the question on many people’s lips. The rise of big data and the use of algorithms by organisations has left many blaming mathematics for modern…
APRA REVEALS INDUSTRIES THAT FACE MOST CYBER RISK
Cybercriminals are disproportionately targeting Australia’s $2.1 trillion pool of retirement savings, it has been reported. A survey released by the Australian Prudential Regulation Authority (APRA) last week showed that…
AUSTRALIA BRACES FOR ‘ABOVE-AVERAGE’ CYCLONE SEASON
Northern Australia should brace for an average to above-average tropical cyclone season, the Bureau of Meteorology (BoM) said in its Tropical Cyclone Season Outlook for 2016-17. In a statement, Dr. Andrew Watkins, climate…
THE MOST SCENIC CARAVAN ROUTES FOR AUSSIE WANDERERS WITH TIME
October 11, 2016Share this article Do you love the freedom of jumping into your caravan and driving across our beautiful country? Wondering where you should go next? With the weather perking up for summer, now is the perfect….
BROKERS DON’T UNDERSTAND TERROR POOL: BOOTH
10 October 2016 Insurance brokers “have no idea” how the Australian Reinsurance Pool Corporation (ARPC) works, a major conference in Canberra was told last week. Speaking at the ARPC-OECD Global Terrorism Risk…
EX-RELIANCE CHIEF FAILS TO OVERTURN COURT ORDER
10 October 2016 Former CEO and founder of Australian Reliance Andrew Donnelly has failed to overturn a court order freezing his assets. Mr Donnelly and former Reliance CFO Kim Hanson are being sued by parent company Vantage…
COMMISSIONS MUST FALL, QBE CHIEF WARNS BROKERS
10 October 2016 Reductions in broker commissions or disintermediation in some insurance classes may have to occur as insurers strive to run their businesses more efficiently, QBE Group CEO John Neal says. He says brokers have an…
IAG EXTENDS MUNICH RE CTP AGREEMENT
10 October 2016 IAG has extended a quota share agreement with Munich Re that covers 30% of the company’s compulsory third party (CTP) business. The agreement is for a minimum of four years from July 1 this year, with an…
SIGNIFICANT CODE BREACHES BY BROKERS DOUBLE
10 October 2016 The number of significant breaches of the Insurance Brokers Code of Practice more than doubled last financial year, an annual review has found. There were 11 significant cases, compared with five in both 2013/14…
XL CATLIN FINALISES BROOKLYN ACQUISITION
10 October 2016 XL Catlin has completed its purchase of award-winning underwriting agency and Lloyd’s coverholder Brooklyn. As previously reported by insuranceNEWS.com.au, the agency will continue to operate under the…
ICA ONLINE HAZARD TOOL SCORES HITS
10 October 2016 The Insurance Council of Australia’s (ICA) updated natural hazards assessment tool is generating high demand online, with enhancements making it more user-friendly and improving data quality. GM Risk and…
SOARING TERRORISM THREAT REVEALS ‘NON-PROPERTY PROTECTION GAP’
10 October 2016 Australia is experiencing more terror attacks than ever, and insurers and governments are not adequately prepared for non-property-related damage, a conference has heard. Research commissioned by the Australian…
DIGITAL TECHNOLOGY CHIEF LEAVES IAG
10 October 2016 IAG Group Executive Digital and Technology Claire Rawlins has left the insurer after 18 months. In a brief statement issued last week, MD Peter Harmer gave no reason for her departure. Head of Disruptive…
TRAVEL RISK MANAGEMENT STANDARD A ‘HUGE STEP FORWARD’
10 October 2016 Australian organisations can reap significant rewards from a new travel risk management standard, an industry leader says. The standard was developed in the UK, but Australian businesses would be wise to adopt…
QBE APPOINTS HUMAN RESOURCES CHIEF
10 October 2016 QBE has named Margaret Murphy as Group Chief Human Resources Officer. “Developing world-class talent is one of the central themes of QBE’s focused strategic agenda, and [Ms Murphy] has the energy and…
COMMINSURE FACES FURTHER PARLIAMENTARY SCRUTINY
10 October 2016 CommInsure must give documents supporting its life cover claims decisions to the House of Representatives Economics Committee. “The committee will be seeking documents from the bank in relation to…
MLC REPLACES LEGACY SYSTEMS IN NIPPON MOVE
10 October 2016 MLC Life Insurance will replace its legacy back-office systems under its takeover by Nippon Life. CEO David Hackett told insuranceNEWS.com.au the business will be transferred from NAB computer systems to a new…
FINDEX FINED OVER ‘INDEPENDENT’ CLAIM
10 October 2016 The Findex Group has been fined $10,800 for describing itself as independent. Between August and December last year it published several representations on its website referring to its advice services as…
AMP DEALER GROUP UTILISES LIFE-GOAL TECHNOLOGY
10 October 2016 AMP says its new financial advice business, AMP Advice, will use Goals Explorer interactive technology. Clients can choose from 29 popular life goals identified by AMP research, or create ones specific to their…
INDUSTRY BODIES UNITE TO HAIL GROUP LIFE
10 October 2016 In a rare display of mutual support, five industry associations involved in the superannuation sector have presented a united front on group life cover. The Association of Superannuation Funds Australia (ASFA),…
FSCNZ HOLDS ONTO DISGRUNTLED INSURANCE MEMBERS
10 October 2016 The Financial Services Council of New Zealand (FSCNZ) has retained all major insurer and bank members after a number resigned last year when the council commissioned a controversial report into life insurance…
DEALING WITH THE DISRUPTORS
10 October 2016 While the dark cloud of disruption looming over insurers is nothing new, what has changed is the urgent need to respond. In the good old days insurers had 3-5 years to adapt, but now it’s more like 1-2…