Latest Australia Headlines
All the headlines from our Australia Topic Page, ordered by recency.
Insurers to Pay an Estimated $1.3B for Cyclone Debbie: Swiss Re
Apr 13 2017 // Cyclone Debbie cost Swiss Re an estimated $350 million and the insurance industry roughly $1.3 billion, the world’s second-biggest reinsurer said on Thursday, an unusually high loss that could see reinsurance prices...
U.S. Weather in March to Cost Insurers More than $2 Billion: Aon
Apr 7 2017 // Four severe weather outbreaks in the U.S. throughout March led to extensive damage in the central and eastern parts of the country, costing the insurance industry in excess of US$2.0 billion, according to a report...
Australia Floods in Wake of Cyclone Debbie Kill 4, Disrupt Mining
Apr 3 2017 // Damage to rail lines in cyclone-hit northeast Australia is set to disrupt exports of the steel-making material from the world’s largest coking coal region, underpinning prices and raising the prospect of major...
Cyclone Debbie Rips Across Australian State, Leaving ‘War Zone’; AIR Comments
Mar 29 2017 // A huge clean-up operation is under way in the Australian state of Queensland after a powerful cyclone swept through the region, tearing roofs off buildings, downing trees and forcing tourists to bunker down at luxury...
Cat 4 Cyclone Debbie Pounds Australia; Insurance Council Declares Catastrophe
Mar 28 2017 // A powerful cyclone tore into Australia’s northeastern coast on Tuesday, forcing thousands of people to flee, shuttering coal to gold mines and prompting insurers to declare a catastrophe. Cyclone Debbie made landfall...
Worst Cyclone in 6 Years Set to Pummel Coast of Queensland, Australia
Mar 27 2017 // The worst cyclone in six years is set to smash into the coast of Queensland on Tuesday morning, forcing thousands of Australians to evacuate or seek emergency shelter and prompting some of the world’s biggest miners...
Rising Sea Temperatures Could Kill 90% of Coral Reefs by 2050: Scientists
Mar 14 2017 // There were startling colors here just a year ago, a dazzling array of life beneath the waves. Now this Maldivian reef is dead, killed by the stress of rising ocean temperatures. What’s left is a haunting expanse of...
Weather Events in U.S., Australia Cost Insurers $1B+ in February: Aon
Mar 9 2017 // Insurers face claims of more than US$1.0 billion as a result of severe weather events in the U.S. and Australia during February, according to a report published by Impact Forecasting, Aon Benfield’s catastrophe model...
Australia Consumer Watchdog Sues VW’s Audi Unit over Emissions Scandal
Mar 8 2017 // The Australian consumer watchdog said on Wednesday it was suing the local Audi unit of Volkswagen AG for intentionally selling more than 12,000 vehicles with software which lied about levels of toxic emissions. This...
Allied World Launches 3 Professional Liability Products in Australia
Mar 8 2017 // Allied World Assurance Co. Holdings AG announced it has launched three new professional liability products in Australia: Directors and Officers Liability Insurance, Architects and Engineers Professional Indemnity...
Australia to Offer ‘World’s First’ University Course to Fight Cyber Crime
Mar 3 2017 // Australia said on Friday it will offer the world’s first university course to train intelligence analysts to fight cyber crime, prompted by innovative methods of money transfer among organized crime and militant...
Gallagher Buys Australia’s Ace IRM Insurance Broking Group
Mar 1 2017 // Itasca, Ill.-based Arthur J. Gallagher & Co. announced the acquisition of Ace IRM Insurance Broking Group, located in Beenleigh, Queensland, Australia. The terms of the transaction were not disclosed. Founded in 1981,...
Allianz Has $3.2B to Spend on M&A, but ‘Disciplined’ Approach Is Needed
Feb 3 2017 // Allianz SE Chief Executive Officer Oliver Baete has 3 billion euros ($3.2 billion) to spend on acquisitions and is scouting for targets from Australia to Italy. Rushing into a deal would be a mistake, according to some...
Allianz Weighs Acquisition of Australia’s QBE: Sources
Jan 30 2017 // Germany’s Allianz has made an informal takeover approach to QBE Insurance, Australia’s biggest insurer, but has not named a price, sources told Reuters on Monday. Shares in QBE closed flat after rising by up to...
Allied World Taps Zurich’s Beazleigh as VP, Professional Liability, Australia
Jan 18 2017 // Allied World Assurance Co. Holdings AG announced that Kym Beazleigh has been appointed vice president, Professional Liability, Australia, based in Sydney. He will report to Ed Moresco, senior vice president, Professional...
Newest Big Thing in Drones Is Technology to Block Them
Jan 3 2017 // A boom in consumer drone sales has spawned a counter-industry of start-ups aiming to stop drones flying where they shouldn’t by disabling them or knocking them out of the sky. Dozens of start-up firms are developing...
2017 Predictions for Insurtech, Australia D&O & India Cyber Insurance, Part 2
Dec 20 2016 // Insurtech was an insurance buzzword in 2016 and that’s likely to continue next year when it will permeate almost every aspect of U.S. industry, according to a prediction from international law firm Clyde &...
QBE Insurance Group Names Regan CEO, Australia & New Zealand Operations
Dec 19 2016 // QBE Insurance Group Ltd. announced the appointment of Pat Regan as CEO, Australian & New Zealand Operations, effective March 1, 2017. Regan has been acting in this role since August 2016, in addition to his...
Zurich Insurance Agrees to Acquire Australia’s Biggest Travel Insurer for $551M
Dec 12 2016 // Switzerland’s Zurich Insurance Group has agreed to buy Australia’s biggest travel insurance provider, Cover-More Group, for A$741 million ($551 million), stepping up its investment in the Australian...
TPA Gallagher Bassett Names McNamara as Managing Director, Australia
Dec 7 2016 // Third party administrator Gallagher Bassett (GB)* has appointed John McNamara to the position of managing director – Australia, effective Jan. 1, 2017. McNamara succeeds Jon Winsbury who is moving into the role of...
