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The national economy would be boosted by more than half a billion dollars annually - over five years - if state and territory governments replaced stamp duties on insurance policies, new research by Deloitte Access Economics shows.The research, which was done for the Insurance Council of … [Read more...] about Get rid of stamp duty on car, home insurance, increase land tax, save $575m

Tropical cyclones are the largest damage producing weather system across tropical Australia. Hence it is very important that all businesses and private property and activities are correctly insured from the damage and disruption these intense storms periodically produce.The release of the … [Read more...] about Tropical Cyclones – What the 2015-2016 Tropical Cyclone Outlook Means

THE devastating April storms saw more than 50,000 claims lodged with NRMA Insurance — more than would typically be seen in a whole year — new data reveals.More than three quarters or 76 per cent of all home insurance claims last financial year were for storm damage, largely attributed to the … [Read more...] about SES warns residents to prepare homes ahead of storm season after insurance claims rose 30 per cent

While some might find the recent announcement that Google (along with Volvo and Mercedes-Benz ) will accept responsibility for any accidents resulting from a flaw in the design or components of their self-driving cars to be sheer showmanship at this stage in their development, at least one observer … [Read more...] about Could Google Be Auto-Piloting Itself Into The Insurance Business?

Cybercrime is costing the global economy nearly half a trillion dollars a year, according to the insurer Allianz. It's a major threat to businesses, which are looking for ways to protect themselves. One option is cybercrime insurance.Mark Patterson found out the hard way that firewalls and … [Read more...] about As Cybercrime Proliferates, So Does Demand For Insurance Against It

But the head of Volvo warns that without broad federal guidelines, the U.S. is at risk of losing its leadership position in the development of self-driving cars.Two questions loom over automakers and tech companies as they push forward with the development and testing of self-driving cars: “Who is … [Read more...] about Volvo CEO: We will accept all liability when our cars are in autonomous mode

It is shaping up to be one of the most expensive product recalls in history but insurance experts say Volkswagen is unlikely to be covered.Volkswagen has conceded to installing a device into diesel-engine cars that hides true emission levels during testing. The manufacturer says the device was … [Read more...] about Product recall uncertainty for VW

ACE Group has announced that they will become the underwriter of a major Australian product line.The international giant has revealed that it will back Calliden’s residential products across the country from November 1.The deal will see ACE take on the Calliden Home portfolio, which will … [Read more...] about Global player ACE announced as new underwriter