The Chinese property insurance industry is forecast to grow at a compound annual growth rate (CAGR) of 12...
Australia: Fall in group insurance coverage attributed to legislative changes
There has been a sharp decline in the number of Australians covered by group insurance through superannuation, according to a research report...
There has been a sharp decline in the number of Australians covered by group insurance through superannuation, according to a research report...
Article / 11 days ago
Australia: Govt aims to standardise more Nat CAT definitions
The Treasury has started a consultation exercise on standardising natural hazard definitions and reviewing standard cover for insurance contracts, says assistant treasurer and minister for financial services Stephen Jones
The Treasury has started a consultation exercise on standardising natural hazard definitions and reviewing standard cover for insurance contracts, says assistant treasurer and minister for financial services Stephen Jones
Article / 18 days ago
Pacific: Property rates stay flat in 4Q2023, for first time in 26 quarters
Composite insurance rates in the Pacific region (of which Australia is the biggest market) were flat in the fourth quarter of 2023, according to Marsh's 4Q2023...
Composite insurance rates in the Pacific region (of which Australia is the biggest market) were flat in the fourth quarter of 2023, according to Marsh's 4Q2023...
Article / 2 months ago
China accounts for around 50% of flood-related economic losses in Asia Pacific
China accounted for about half of the economic losses in the Asia Pacific related to flooding in 2023, with economic losses of more than $32bn and insured losses of $1.4bn.
China accounted for about half of the economic losses in the Asia Pacific related to flooding in 2023, with economic losses of more than $32bn and insured losses of $1.4bn.
Article / 2 months ago
Hong Kong: Nat CAT overtakes pandemic as territory's top risk
With the COVID-19 pandemic-related restrictions lifted a year ago, 'pandemic outbreak' has been removed as the top risk in Hong Kong in 2024, according to...
With the COVID-19 pandemic-related restrictions lifted a year ago, 'pandemic outbreak' has been removed as the top risk in Hong Kong in 2024, according to...
Article / 2 months ago
Typhoon Doksuri is costliest disaster
According to Munich Re's Nat CAT 2023 report, overall losses in APAC in 2023 were $50bn, of which $7bn was insured. There were 11,900 fatalities....
According to Munich Re's Nat CAT 2023 report, overall losses in APAC in 2023 were $50bn, of which $7bn was insured. There were 11,900 fatalities....
Article / 2 months ago
Australia: Insurance crisis brews amid extreme weather
Australia faces an emerging insurance crisis as extreme weather drives premiums higher and makes an increasing number of properties uninsurable, according...
Australia faces an emerging insurance crisis as extreme weather drives premiums higher and makes an increasing number of properties uninsurable, according...
Article / 3 months ago
Australia: Suncorp expects to be within natural-CAT allowance in 2H2023 for weather events
Brisbane-headquartered Suncorp has provided an update on the ongoing weather events that have impacted Queensland, New South Wales, Victoria and...
Brisbane-headquartered Suncorp has provided an update on the ongoing weather events that have impacted Queensland, New South Wales, Victoria and...
Article / 3 months ago
Australia: Insurance CAT declaration extended for Christmas-New Year storms
The Insurance Council of Australia (ICA) yesterday extended its Insurance Catastrophe declaration for the recent storms, rain and flooding to 3...
The Insurance Council of Australia (ICA) yesterday extended its Insurance Catastrophe declaration for the recent storms, rain and flooding to 3...
Article / 3 months ago
Australia: Watchdog says cyclone reinsurance pool yet to lead to lower home insurance premiums
The Australian Competition and Consumer Commission (ACCC) has said that home, strata and small business insurance...
The Australian Competition and Consumer Commission (ACCC) has said that home, strata and small business insurance...
Article / 3 months ago