Bruce Educates Supermarkets On The Importance Of Cladding London’s Grenfell Tower disaster, which has so far claimed 79 lives, looks to have kicked Australian authorities into action on flammable cladding. Other states have now joined Victoria in probing the true scale of the problem, and politicians are talking tough. The Insurance Council of Australia has […]

Permi States What The 10 Biggest Risks May Be In 2018 New research from Allianz has identified business interruption as the biggest risk facing Australian businesses as cyber insurance continues its rise to prominence. The Allianz Risk Barometer 2017 revealed the 10 biggest risks Australia and the rest of the world face in 2017. Market developments and cyber incidents […]

NSW has been pummelled by two natural catastrophes over the past week, with bushfires devastating several regional areas and Sydney and Wollongong being battered by a hailstorm on Saturday. The combined insured losses from the two catastrophes are now more than $70 million. Insured losses from the bushfires have climbed to about $28.5 million from […]

Cybercrime is on the rise. Doing nothing may be the biggest risk of all. As people, business and governments all become more reliant on interconnected computer networks, more economic value is digitised and stored online, making the rewards of cybercrime ever more attractive. From financial crime to theft of personal or confidential business information, cybercriminals […]

The increasing prevalence of leaky, toxic and downright dangerous buildings has put defective building products in the spotlight in Australia and New Zealand recently. Below-standard plasterboard, inflammable exterior cladding material, and problems with structural steel prone to failure are all creating liability concerns across the region. In Australia’s regions of warmer and more humid climates, […]

Technology industry groups have welcomed the passing of long-awaited mandatory data breach notification laws through the House of Representatives, but fears remain in business circles about unintended consequences. The bill passed through the lower house with bipartisan support on Tuesday, having been on the government’s agenda since early 2015, meaning organisations will have to reveal if their […]

Chatbots running on artificial intelligence (AI) could be the ones selling insurance policies by 2022, supplanting human agents, according to an industry report from South Korea. Kim Seog-young, financial policy department director at the Korea Insurance Research Institute, said that insurance companies will soon employ AI-based marketing that will “gradually replace the current channel of […]

Austar, a trans-national corporation whose main areas of business are in migration, student recruiting and overseas property sales in China, recently requested a presentation from CIA on the differences between insurance in China and insurance in Australia, and the crucial importance of insurance to protect business enterprises in these modern times. The presentation, conducted by […]

$1 BILLION PAID IN DEBBIE CLAIMS Cyclone Debbie now ranks as the second-most expensive cyclone in Australian history. Insurers have paid $1 billion. Insurers have paid $1 billion in Cyclone Debbie insurance claims, with more than 85 per cent of claims now closed. Insurance Council of Australia (ICA) data shows insurance losses have reached $1.565 […]

The Insurance Intelligence Center’s recently published report on ‘The Rise of Big Data in Insurance‘ chronicles the increasing use and influence of Big Data in the global insurance industry. Drawing on primary insights from industry leading experts, the report breaks down the potential impact of Big Data between segments such as motor, life and health […]

Cladding crisis prompts NSW building product laws 20 November 2017 Cladding crisis prompts NSW building product laws New legislation in NSW will allow the Commissioner of Fair Trading to stop unsafe building products such as flammable cladding being used. Better Regulation Minister Matt Kean says breaches could result in fines of more than $1 million […]

Uber paid hackers to delete stolen data after 57 million accounts were breached UBER covered up a huge data hack that saw the names, email addresses and mobile phone numbers of 57 million customers and drivers stolen. HACKERS plundered the personal data of 57 million Uber customers and drivers — but the app-based cab company […]