All Claims articles
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NewsAustralian court to hear second BI case
It follows an initial test case heard in the NSW Court of Appeal last year regarding the application of the Quarantine Act exclusion to business interruption policies
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NDBI: Exposed and unprotected
Caroline Woolley explains why it’s much better to play ‘let’s pretend you have a loss’, than trying to deal with expectation gaps after an event
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Australian insurers to examine coverage gaps
Review comes amid concern about the availability and affordability of some categories of insurance cover
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Lloyd’s launches systemic risk initiative
The COVID-19 pandemic has highlighted gaps in the knowledge, understanding, and mitigation of systemic and black swan risks
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D&O protection gap grows as rates soar
Escalating premiums and lack of capacity could see firms refusing to purchase or reducing cover, leaving senior professionals on the hook for claims
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Perth Hills bushfires declared a catastrophe
Bushfires in the north-east Perth Hills region have so far destroyed 81 homes, with insurers receiving over 270 claims worth $40m
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2020 nat cat tally hits $78 billion
Hurricane Laura caused an insured loss of $8 billion to 9 billion, the largest weather-related loss event - Willis Re
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Commercial insurance rates rise 22% in Q4 2020
Nearly all regions reported double-digit price increases, led by the UK (44%), Pacific (35%), and the US (17%)
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PPPs needed to insure systemic risk
Future climate and systemic risks remain a key challenge - Insurance Development Forum
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Insurers complicit in ransomware rise - warning
Insurers are inadvertently funding organised crime by covering ransom payments, says former NCSC chief
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Nat cat losses cost $268 billion in 2020
Just 36% of the losses were covered by insurance, creating a protection gap of 64%, according to Aon
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US braces for Inauguration Day violence
The FBI warns of violence ahead of Joe Biden’s Presidential inauguration, but heightened security may defer the risk
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Service to measure cyber ‘human error’ risk
The Workforce Cyber Culture Assessment assesses people risk and the impact of business culture in a cyber context
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‘Black summer’ bushfires cost insurers $2 billion
Insurance losses during the New Year peak period were most severe in New South Wales, which accounted for 71% of the industry loss
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Willis Towers Watson to leverage AI for emerging risk solutions
Airmic welcomes broker’s partnership with analytics firm Polecat, which ”signals a new generation of innovative risk management solutions”
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Insurance hikes could be “nail in the coffin”
Mactavish expects rates to continue to rise in 2021 and says that some companies will be unable to pay for their cover
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Is cladding ever safe to use?
When fire strikes in buildings using foam plastic materials, the results can be catastrophic and tragic
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Insurance Council of Australia to appeal BI ruling
Pandemics were not contemplated for coverage under most business interruption policies, insists ICA
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Australia BI test case “raises more questions than answers”
The question of pandemic business interruption coverage will remain a significant source of uncertainty for Australian insurers - AM Best
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NSW Court of Appeal rules against insurers
The Insurance Council of Australia is considering whether to appeal the pandemic business interruption test case decision
