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The Australian Securities and Investments Commission (ASIC) has permanently banned a former NSW director of an insurance broking company, Timothy Charles Pratten, from providing financial services and from engaging in credit activities for "dishonestly obtaining a financial advantage from the … [Read more...] about ASIC permanently bans former insurance company director

An Australian government commissioned report on Tuesday rejected drought insurance for farmers as uneconomical, dashing landowner hopes of a change in government policy which could help boost output to meet Asia's fast-growing food market.Australia is one of the world's largest exporters of wheat, … [Read more...] about Australian farmers left high and dry after report rejects drought insurance

Floods in June hit a number of areas of the Coast. The Insurance Council of Australia will next week hold two insurance forums for Tasmanian claimants affected by flood and storm damage caused by last month’s east coast low.The forums will be attended by the ICA, key insurance companies, … [Read more...] about Insurance forum for flood and storm issues

The growing threat of hacking and a duty to protect data more stringently will accelerate demand for cyber insurance in Europe, insurer Allianz said on Wednesday, as it launched its first product aimed at Germany's small-to-medium-sized manufacturers.Cyber insurance has been slow to take off in … [Read more...] about Allianz sees cyber premiums as fire insurance of 21st century

The long-awaited National Disability Insurance Scheme starts rolling out across Australia from Friday for the next three years.National Disability Insurance Agency chairman Bruce Bonyhady said this would revolutionise disability support and transform the lives of 460,000 disabled Australians, … [Read more...] about NDIS begins to rollout across Australia

If, or more accurately, when your company is hit by a cyber attack, do you have what you need to recover? Do you know what kind of losses you can afford to absorb in your bottom line? How do you manage your risks? Have you thought about whether you need cyber insurance?Back in 2011, Sony’s … [Read more...] about Cyber insurance is changing the way we look at risk

Australian businesses have been warned they need to spread the risk in their cloud computing operations across different regions after the Sydney storms on Sunday knocked out the operations of numerous Amazon Web Services customers.The ferocious storms that hit NSW, left AWS clients including … [Read more...] about The storms took out Amazon customers like Foxtel & Domino’s, highlighting a key risk with the cloud

Credit insurance could play a more important role for businesses throughout the region as risks continue to rise, a new study has found.In a report published by international credit insurance leader Coface, there has been no improvement in corporate payments in Asia Pacific in 2015 with 70% of … [Read more...] about Credit insurance could play a more important role