The Broker
Cyber market faces ‘discipline test’ as rates ease: Aon
31 August 2023
Broker Aon has flagged underwriting discipline as an emerging concern in the Australian cyber market as the pace of rate increases continues to slow significantly after two years of hardening conditions...
Weather disasters driving flood definition, limit changes
31 August 2023
Insurers are scrutinising limits, seeking to impose annual aggregates and expanding flood definitions to include fluvial and pluvial inundations in response to the increasing claims from wild weather events, Marsh says in its Australian market update...
NZUAC announces first broker expo
31 August 2023
The New Zealand Underwriting Agencies Council will hold its inaugural expo in October, aiming to connect brokers, underwriting agencies and insurance industry suppliers...
‘Aiming for $1 billion GWP’: McLardy McShane conference takes off
31 August 2023
Fast-growing brokerage and authorised representative network McLardy McShane says it is targeting $1 billion in gross written premium, after holding its “infinity and beyond” conference last week...
New engineers standard ‘could impact PI’: broker
31 August 2023
The NSW Government is considering a new “fit for purpose” design standard for registered professional engineers as part of ongoing efforts to improve standards in the building and construction industry...
NZ price sensitivity heightened as costs rise: Vero SME Index
31 August 2023
More New Zealand businesses are identifying price as the most important concern when it comes to making insurance decisions as the economic downturn affects trading conditions, potentially leading to changes that may increase their risk exposure, a Vero survey says...
Brokers ‘should rethink sales strategy’ to bridge cyber gap
31 August 2023
Cybersecurity specialist Arctic Wolf says brokers who work to improve their knowledge of the cyber risk landscape will help secure necessary protections for uninsured clients wary of rising premiums...
CBN goes the distance to raise $42,000 for Foodbank
31 August 2023
Community Broker Network has raised $42,000 for food relief organisation Foodbank, through its inaugural charity challenge...
General outlook more positive for buyers after recent rate rises: Marsh
24 August 2023
Insurance buyers are generally facing a positive outlook for the second half of the year following a moderation of rate increases in most classes during the first half, Marsh says in a Mid-Year Market Update for Australia...
IAG intermediated business stems losses as ‘price discipline’ pays off
24 August 2023
IAG’s intermediated division has stemmed its losses, posting an insurance profit of $209 million for the year to June 30 after racking up a $103 million deficit in the prior 12-month period...
‘Biggest buys the best’: Honan chairman hails Marsh deal
24 August 2023
Honan Insurance Group Executive Chairman Damien Honan has welcomed the $700 million sale of the business his father founded in 1964...
AUB outlines plans for three key appointments
24 August 2023
AUB Group plans to appoint leaders to three new key positions in a reorganisation of its operating model following the landmark Tysers acquisition...
APEX platform about independence: PSC
24 August 2023
PSC Insurance Group has given more details about its new APEX insurance trading system, an online bot-supported platform it launched after leaving the Steadfast network at the end of May...
Tysers Live to boost AUB entertainment business
24 August 2023
AUB’s recently acquired UK-based Tysers business has launched a business unit dedicated to servicing the global entertainment industry...
NZ broker flags flood challenges as insurers consider standard definition
24 August 2023
New Zealand broker Crombie Lockwood says securing flood insurance coverage has become increasingly difficult after many insurers adopted a tougher underwriting approach following the Auckland catastrophe in January...
Bushfire liability market ‘continues to challenge’
24 August 2023
The global liability market for bushfire and wildfire related losses continues to provide challenging conditions as natural catastrophes increase, a new report says...
Elliott Insurance starts new journey as ‘green broker’
24 August 2023
Elliott Insurance has unveiled new branding as “The Green Broker” as it commits to climate-sustainable operations...
Steadfast earnings jump on rising prices, acquisitions
17 August 2023
Steadfast full-year underlying net profit rose 22.5% to $207 million driven by pricing and volume increases in the broking and underwriting agencies as well as contributions from acquisitions in the past two financial years...
Communication, greater oversight in focus in ASIC claims review
17 August 2023
An Australian Securities and Investments Commission review of home cover claims handling has called on insurers to improve their communications and to ensure they have better project management and oversight of parties involved in repairs throughout the process...
PSC shares thinking behind new APEX platform
17 August 2023
PSC Insurance Group has developed a new online platform called APEX for its brokers and network partners to source product pricing quotes from insurers and underwriting agencies...