Latest Australia Headlines
All the headlines from our Australia Topic Page, ordered by recency.
AIR Worldwide Releases Updated Earthquake Model for Australia
Jul 27 2020 // Catastrophe risk modeling firm AIR Worldwide (AIR) announced the release of its updated Earthquake Model for Australia. These updates were prompted by findings in the National Seismic Hazard Model from Geoscience Australia...
January’s Hailstorms in Australia Cost Insurers an Estimated A$1.8B (US$1.3B): PERILS
Jul 21 2020 // The industry loss footprint for the January 2020 Australian hailstorms, which occurred Jan. 19-21, 2020, are estimated at A$1.8 billion (US$1.3 billion), according to PERILS, the independent Zurich-based organization that...
Anglo-Australian Miner BHP Faces $6.3B Lawsuit in UK over 2015 Brazil Dam Disaster
Jul 15 2020 // More than 200,000 Brazilian people and groups will next week kick off a 5 billion-pound ($6.3 billion) lawsuit against Anglo-Australian miner BHP in Britain over a 2015 dam failure that led to Brazil’s worst...
Insured Losses for 2019/2020 Australia Bushfires Estimated at A$1.9B (US$1.3B): PERILS
Jul 7 2020 // The insurance industry’s loss footprint for the Australian bushfires of 2019/2020 is estimated at A$1.9 billion (US$1.3 billion), according to PERILS, the independent Zurich-based organization providing industry-wide...
Australia to Spend Nearly $1 Billion on Cyber Security During Next Decade
Jun 30 2020 // SYDNEY – Australia will spend A$1.35 billion ($926.1 million) over the next 10 years to boost its cyber security defenses, Prime Minister Scott Morrison said on Tuesday, as Canberra seeks to combat a wave of attacks. The...
State-Based Hackers Target Australia Government, Critical Infrastructure: Prime Minister
Jun 19 2020 // Australia’s government, health and education services and various industries are being targeted by sophisticated state-based cyber attacks, Prime Minister Scott Morrison said Friday. Morrison said that while the...
Sustainable Recovery Plan Pitching Pandemic as Opportunity to Grow Greener
Jun 18 2020 // Economic growth can be boosted, jobs can be saved or even created and greenhouse gas emissions can be cut if we take advantage of the worldwide changes that have occurred as we hunkered down in response to the COVID-19...
Insurers Distance Themselves from Disputed Australia Coal Project as Backlash Grows
Jun 12 2020 // Global insurance companies linked to Adani’s Carmichael coal mine in Australia are distancing themselves from the controversial development, as pressure mounts on financial institutions to cut their ties to the...
Arthur J. Gallagher & Co. Acquires Australia’s CA Insurance Brokers
Jun 9 2020 // Arthur J. Gallagher & Co., the Rolling Meadows, Ill.-based broker, announced the acquisition of CA Insurance Brokers in Australia. Terms of the transaction were not disclosed. Founded in 2002 by Andrew Howard, CA...
Australia’s 4 Summer Natural Disasters Cost Insurers More Than US$3.44 Billion
May 28 2020 // The cost of insurance claims from four natural catastrophes during Australia’s 2019-2020 summer has passed A$5.19 billion (US$3.44 billion), said the Insurance Council of Australia (ICA). Thousands of new claims and...
Coronavirus Cluster Found in Crew of Freight Cargo Ship in Australia
May 27 2020 // A coronavirus cluster was detected Tuesday on a freight ship berthed in the Australian west coast port of Fremantle, raising questions about why local authorities weren’t alerted to the danger. Six of 48 crew members...
Severe Storm Batters Coast of West Australia
May 27 2020 // Tens of thousands of homes and businesses lost power, buildings were battered and trees were uprooted as a vast stretch of the west Australian coast was whipped by a severe storm on Monday for the second straight day. No...
Canopius Appoints AXA XL’s Elliott as APAC Casualty Underwriter
May 26 2020 // Canopius announced the appointment of Craig Elliott as casualty underwriter for the region, effective May 4, 2020. He reports to Claudio Saita, head of Australia & Pacific, and is based in the company’s Sydney...
Australia Clamps Down on Litigation Funders Following Surge in Class Action Lawsuits
May 22 2020 // The Australian government is tightening regulatory scrutiny of wealthy litigation funders, clamping down on the industry following a surge in costly class action lawsuits. Treasurer Josh Frydenberg said on Friday that...
Explosion at Anglo American Coal Mine in Australia Injures 5, Halts Production
May 6 2020 // An explosion halted production on Wednesday at a coal mine run by Anglo American in Australia’s northeastern state of Queensland, injuring five people just months after a review of the industry called for better...
PERILS Releases Industry Exposure Database 2020, Now Including Australia Motor
Apr 28 2020 // PERILS AG, the independent Zurich-based company that provides industry-wide catastrophe insurance data, has released its Industry Exposure Database 2020. The database contains up-to-date information about property sums...
Insurance Australia Group, AMMB Seek to Sell Their Malaysian Auto Insurer: Sources
Apr 15 2020 // The owners of AmGeneral Insurance Bhd., Malaysia’s second-biggest auto insurer, have restarted a sale process and are seeking as much as $1 billion for the company, people with knowledge of the matter said. Kuala...
Australia’s Westpac Expects $578M Fine for Money Laundering Linked to Child Abuse
Apr 14 2020 // Australia’s Westpac Banking Corp said it expects a A$900 million ($578 million) fine over accusations it enabled millions of illegal payments including between known child sex offenders, the first time it has put a...
Australia Insurer IAG Announces CEO Harmer to Retire; Hawkins Named Deputy CEO
Apr 8 2020 // Australian insurer IAG announced that Peter Harmer, managing director and chief executive officer, plans to retire by the end of 2020. A flexible nine-month period of transition has been agreed with Harmer to ensure a...
Australia Regulator Urges Insurers, Banks to Defer Dividends Amid Coronavirus Crisis
Apr 7 2020 // Australia’s prudential regulator on Tuesday asked banks and insurers to consider deferring dividend payouts or use buffers like dividend reinvestment plans until the impact of the coronavirus pandemic is better...
