The Australian Government's cyclone reinsurance pool has begun delivering lower premiums for some consumers in some regions facing higher risk of cyclones, according to a report released yesterday by the Australian Competition and Consumer Commission (ACCC).
The board of the Insurance Council of Australia (ICA Board) has appointed Mr Steve Johnston as chair. He will succeed Mr Nick Hawkins and begin his term on 1 January 2025.
US-headquartered BAM Mutual, the mutual bond insurer focused on reducing the cost of debt sold for essential infrastructure, is opening a Melbourne office and will begin insuring bonds and loans sold to finance projects in Australia and New Zealand.
WTW, a leading global advisory, broking, and solutions company, has formed a dedicated technology industry practice within its Corporate Risk & Broking (CRB) business in Australia and New Zealand.
With Australia's premium funding market now exceeding A$9bn ($6bn), there are opportunities to provide additional finance options and greater broker support, according to Oz Premium Finance founder and director Karl Kirsten. Oz Premium Finance is an insurance premium funding start-up.
A new survey of motorists in Western Australia (WA) has revealed some of the worst habits on the road, with tailgating and poor merging topping the list, according to the Royal Automobile Club of Western Australia (RAC WA).
The Council of Australian Life Insurers (CALI) has said that it welcomes a Federal Government ban on the use of genetic test results in insurance underwriting.
Tokio Marine Kiln (TMK) has appointed Ms Stephanie Hong as marine underwriter in APAC. In her new role, she will primarily be focused on deepening TMK's presence in target markets across Asia.
Forvis Mazars has appointed Mr Aidan Khoo as director, management consulting and Ms Kirsty McMillan as partner, tax.
WTW has appointed Mr Ben Di Marco as leader of its new dedicated technology industry practice. He is a cyber and technology risk specialist.