March
Cyclone Alfred’s insurance storm batters sturdy $1.925m sale
Four hours before the scheduled auction of this Brisbane property, companies refused to extend home cover. But that didn’t put buyers off.
Alfred’s a reminder that red tape is pushing up premiums
The problem is not only extreme weather. Australia’s fragmented insurance regulatory structure which requires separate licences for each to operate is also driving up costs.
February
Insurers argue returns are falling as Coalition seesaws on divestment
Peter Dutton threatens to force insurers to divest assets if they were found to be abusing their market power. He made similar remarks about supermarkets.
Dutton’s ‘big stick’ plan could make your insurance more expensive
Rather than focusing on re-regulating the sector, the Coalition leader should take the advice of his own backbench and ease the regulatory burden.
January
LA fires: US insurers brace for losses of up to $32b
JPMorgan analysts on Friday doubled their expectations for insured losses from a day earlier, citing limited progress on containment and the spread to neighbouring areas.
California fires expose a $1 trillion hole in US home insurance
The glut of homes in increasingly fire-prone places has created an insurance crisis in California, with many big insurers pulling out of the state to avoid more losses.
November 2024
How IAG boss Nick Hawkins weathered the perfect storm
In the past four years, the CEO of the $20b insurance giant has battled both cyclonic conditions and swirling regulators and politicians.
Hello sunshine! IAG can’t resist pull up north
Strategically, the RACQ Insurance acquisition is a sound deal. Its success (or otherwise) comes down to price.
Chinese real estate giant claims it is owed $1.4b in Dyldam collapse
Recriminations have already begun over Beijing Capital Land’s financing of the developer, which collapsed in 2020 leaving a trail of debt and unlivable homes.
Household sensors help keep insurance premiums down
Up-and-coming insurance tech firm Honey Insurance uses technology in novel ways to help its customers.
October 2024
How insurers failed when flooded customers needed them the most
A parliamentary report has made 86 recommendations to improve claims handling, calling for government intervention to stop new developments on flood plains.
June 2024
Insurance for new Victorian home builds to jump by 65pc
The Greens-controlled council is one step closer to imposing different rates for landlords and owner-occupiers after passing a motion on Wednesday night.
April 2024
How to get a better deal on home insurance
Shopping around, increasing your excess and improved home security can help you get a better deal on home insurance.
Strata reforms send bills soaring from just $5000 to $60,000
The NSW government made sweeping changes to prevent horrific development failures. Did it go too far?
Insurers told to slash prices for households that reduce risks
Steps could include roof replacement, upgrading garage doors, boosting window protection, tying down sheds, and replacing flimsy hollow doors.
Sydney start-up Honey Insurance lands blockbuster $108m US investment
After 305 meetings Honey has closed a huge series A funding round, but it had to head offshore to find the right investors.
February 2024
Inside the bizarre plot to bring down home builder Simonds
Being publicly listed probably saved Simonds from potential ruin, after a social media post subjected the company to a savage and bizarre smear campaign.
January 2024
Insurance industry faces ‘emerging crisis’, says ASIC boss
Insurance prices rose a colossal 16.3 per cent in the year to November, the fastest rate of any consumer spending category.
November 2023
Fintechs among the fastest, but rising rates to dampen the party
The era of fast growth at all costs is over, with rising rates drying up the abundant liquidity that helped spur phase one of these companies’ successes.
September 2023
Why the world’s giant insurers care about tiny Roma
One change in the Queensland town has effectively reduced insurance risk for the region. It’s a lesson for the rest of Australia battling sky-high premiums.