Latest Australia Headlines
All the headlines from our Australia Topic Page, ordered by recency.
Hartford InsurTech Hub Holds Demo Day, Completes Second Accelerator Program
Apr 30 2019 // Hartford InsurTech Hub, powered by Startupbootcamp, hosted its second Demo Day at the Bushnell Performing Arts Center in Hartford, Conn., on April 26. The InsurTech Accelerator is the first component of Hartford InsurTech...
Canopius Opens Office in Sydney, Australia
Apr 30 2019 // Canopius, the London-based global specialty re/insurer announced it is opening an office in Sydney, Australia, as part of its commitment to expand in the Asia-Pacific region. Subject to regulatory approval, the local...
Tech Firms Face Fines and Jail for Failure to Remove Violent Content in Australia
Apr 4 2019 // Australia will fine social media and web hosting companies up to 10 percent of their annual global turnover and imprison executives for up to three years if violent content is not removed “expeditiously” under...
HDI Global Specialty to Launch Australia General Aviation Team, Led by QBE’s Bowes
Mar 28 2019 // HDI Global Specialty SE – Australia, the new specialty lines insurer, has recruited Jamie Bowes as head of Aviation as a first step to developing a general aviation footprint in the Asia Pacific markets. Bowes, a...
Australia Mining Firms Report Some Impact from Cyclones as Clean Up Begins
Mar 25 2019 // Mining giants Rio Tinto, BHP Group and Fortescue Metals said their Australian operations had suffered some impact after two cyclones hit the country over the weekend, with clean up starting on Monday in the wake of the...
Northern Australia Braces for 2 Cyclones, Disrupting Mining, Shipping Operations
Mar 22 2019 // Commodity giant Glencore on Friday said it had suspended operations at its McArthur River zinc mine in northern Australia as a cyclone approaches. Authorities have declared a state of emergency in the region as Tropical...
Insured Property Loss for Northern Australia Floods Estimated at A$957M: PERILS
Mar 18 2019 // Initial insured property losses for floods that recently affected northern Queensland, Australia, and in particular the city of Townsville, are estimated at A$957 million, according to PERILS, the independent Zurich-based...
Australia Floods Cost Insurers US$635M in February: Aon’s Catastrophe Recap
Mar 8 2019 // Australia’s Northern Queensland experienced widespread flooding from Jan. 26 to Feb. 7, which cost insurers more than A$893 million (US$635 million) with total economic losses of at least A$1.7 billion (US$1.2...
Wildfires Threaten Towns in Rural Southeast Australia
Mar 7 2019 // More homes were being threatened Tuesday [March 5] by wildfires that have burned dozens of homes and buildings in rural southeast Australia. Victoria state Emergency Management Commissioner Andrew Crisp said emergency...
Environmental Disaster Unfolds in Pacific, Near Solomon Islands, as Ship Leaks Oil
Mar 4 2019 // An environmental disaster is unfolding in the Pacific after a large ship ran aground and began leaking oil next to a UNESCO World Heritage site in the Solomon Islands, Australian officials said Friday [March 1]. Footage...
QBE Takes Another Step to Reporting Strong Results, Consistently, with 2018 Profit
Feb 27 2019 // QBE Insurance Group took another step in its quest to achieve strong results, consistently, by reporting a cash profit after tax of US$715 million during 2018, a significant improvement on the cash loss of US$262 million...
Asia-Pacific SMEs Are Over-Confident About Their Cyber Preparedness: Chubb
Feb 15 2019 // A significant perception gap exists between the cyber awareness and cyber preparedness at small and medium enterprises in some Asia-Pacific countries, according to a Chubb survey titled “Too Small to Fail?” The...
Insurtech-Driven MGA, Agile, Appointed as StarStone Partner in Australasia
Feb 15 2019 // Agile Underwriting Services Pty Ltd., the insurtech-driven managing general agency (MGA) and Lloyd’s coverholder, announced it has been appointed as a representative agent for global specialty insurer, StarStone, in...
January’s U.S. Storms, Australia Floods Bring Economic Damages Near $2B: Aon
Feb 11 2019 // Multiple winter storms and extreme cold led to 45 deaths and cost the U.S. economy $1 billion during January, according to Aon’s Global Catastrophe Recap – January 2019. The report listed the winter storm events in...
Australia Inquiry into Financial Sector Scandals Seen to Give Reprieve to Banks
Feb 5 2019 // Australia financial shares surged the most in a decade after an inquiry into decades of wrongdoing stopped short of demanding a structural overhaul of the scandal-plagued industry or tighter lending rules that threatened...
Insurance Council of Australia Declares Catastrophe for Queensland Floods
Feb 4 2019 // The Insurance Council of Australia (ICA) declared a catastrophe for insurance policyholders who have been affected by torrential rain and flooding in the northeastern Australian state of Queensland. “The Queensland...
Australia Sweltered in January Through Hottest Month on Record
Feb 4 2019 // Australia sweltered through its hottest month on record in January and the summer of extremes continued with wildfires razing the drought-parched south and flooding in expanses of the tropical north. Australia’s...
Japan Insurers Eye China Acquisitions in Continuation of Overseas Deal Spree
Feb 4 2019 // Japanese insurance companies have spent more than $50 billion on acquisitions over the past five years to become the world’s second-largest buyer of insurance assets, and the deals spree won’t be slowing down...
Australia to Shake Up Financial Sector After Inquiry Shows Widespread Wrongdoing
Feb 4 2019 // Australia’s corporate regulators will be subjected to a new oversight body in a shake-up of the banking sector recommended by a high-powered independent inquiry into financial sector greed and malpractice. The...
Insured Losses from Sydney Hailstorms Estimated at A$635M (US$457.5M): PERILS
Jan 31 2019 // Initial insured property losses for December’s hailstorms in Sydney are estimated at A$635 million (US$457.5 million), according to PERILS, the independent Zurich-based organization that provides industry-wide...
