Australia
AIR Worldwide : Tropical Cyclone Rusty to deliver high winds, ehavy precipitation and flooding to oast of Western Australia
According to catastrophe modeling firm AIR Worldwide, Tropical Cyclone Rusty formed only on Saturday, February 23, but grew rapidly and intensified due to low...
AIR Worldwide : floods associated with ex-tropical cyclone strike Eastern Australia
According to catastrophe modeling firm AIR Worldwide, flooding has hit parts of eastern Australia, forcing thousands of residents to evacuate their homes. The heavy...
Rescued French sailor was uninsured
The partner of a French sailor who was rescued off the coast of Australia after spending three days adrift on a life-raft on Monday...
AIR Worldwide : moderate earthquake hits Victoria State in Australia
According to catastrophe modeling firm AIR Worldwide, at 10:53 UTC this morning, the biggest earthquake to hit Victoria, Australia, in more than a century...
Australia : heavy rain and flooding still affects states of Victoria and New South Wales
Heavy rain and flash flooding continues to affect the Australian states of Victoria and New South Wales.
Sydney was affected by severe rainfall over 7/8...
Fitch affirms QBE credit ratings
QBE had its Issuer Default Rating (IDR) and its Insurer Financial Strength (IFS) ratings affirmed at 'A' and 'A+' respectively, Fitch Ratings announced today....
Mike Wilkins / IAG : adapting to changing risk
The enormous scale of destruction and human loss arising from recent catastrophes has horrified us all and highlighted the vulnerability of our towns, regions...
Survey : Australian mothers and life insurance
A survey has found that Australian mothers prefer not to face the reality of getting life insurance. Even though 83 per cent say their...
Australia / lawyers : insurance companies may have to pay flood claims
The Australian Lawyers Alliance (ALA) said insurance contracts with homeowners are required to provide prescribed coverage under the Insurance Contracts Act.
"Prescribed coverage includes flood,"...
Australia : Brisbane’s flood insurance criticised by opposition
It is expected the State and Federal governments will cover most of the AUD440 million damage bill. But Brisbane Labor leader Shayne Sutton told...
Cyclone Yasi may cost Australia $5 billion
Cyclone Yasi may have cost Australia up to $5 billion in damages after ripping through the country's northeast, destroying towns and key crops, catastrophe...
QBE acquires Balboa insurance portfolio from Bank of America
Bank of America agreed to offload its Balboa insurance portfolio to Australia's QBE Insurance for more than $700 million, the latest in a string...
Australia reels at multi-billion dollar economic loss following record floods
Aon Benfield, the global reinsurance intermediary and capital advisor of Aon Corporation, releases the latest edition of its Monthly Cat Recap report, which reviews...
TSR comment on Cyclone Yasi
Intense Cyclone Yasi has strengthened and looks certain to be the most damaging Australian cyclone since cyclone Larry in March 2006, according to Tropical...
Warning / Australia : tropical cyclone Yasi on the heels of the floods
On the heels of widespread flooding in eastern Australia, the state of Queensland today is evacuating residents as a giant typhoon barrels across the...
Australia : insurance flood premiums should triple
Customers are warned that insurance premiums will be increased this year after the flooding in Queensland New South Wales and Victoria.
JP Morgan and Deloitte...
Australia : insurers blamed for flood and storm definition
Insurance companies are blamed for consumer confusion over what constitutes storm and flood cover, according to Australia's competition watchdog.
Floods in Victoria, NSW and...
XL Insurance launches Insurance Solutions for Middle Market Companies in Australia
XL Insurance, the global insurance operations of XL Group, today announced the extension of its business in Australia offering insurance solutions to Middle Market...
Federal Treasurer Wayne Swan has flagged changes to the insurance industry
Federal Treasurer Wayne Swan has flagged changes to the insurance industry in the wake of Queensland's devastating floods.
Mr Swan says there appear to be...
