The number of excess deaths in Australia more than halved in 2023 following a steep decline in the number of people dying from COVID-19, research published by the Actuaries Institute shows.
Increased risk from Nat CAT, as triggered by climate change, is set to complicate "an already intricate business risk landscape", according to WTW's Natural Catastrophe Review: Expert insights, lessons learned and outlook, published earlier in July.
nib has appointed Mr Ed Close as managing director and CEO. He is expected to formally take up his position at nib before the end of calendar year 2024. He will take over from Mr Mark Fitzgibbon, who will retire on 1 September 2024.
Beazley has appointed Ms Jessica Schappell as head of APAC. She takes over from Mr Lucien Mounier, who was recently appointed head of Europe, cyber risks.
Workplace and CTP claims for mental health injuries are rising dramatically, but insurers are finding innovative ways to rehabilitate claimants and help them get back to work and their regular lives as fast as possible, according to the Australia Insurance Law Association (AILA).
As many as one in five Australian drivers have no problem using their mobile device while behind the wheel, despite the risks, a survey conducted by online insurer, Budget Direct Car Insurance.
Composite insurance rates in the Pacific region, comprising mainly the Australian market, declined by 5% in the second quarter of 2024, after falling by 2% in 1Q2024, according to the "Global Insurance Market Index" published by the world's biggest insurance broking group Marsh.
Swiss Re Corporate Solutions has appointed Mr Kevin Bates as country head of Australia and New Zealand, effective 4 November 2024. He will take over from Ms Christine Bell, who has decided to retire.
The failed CrowdStrike update that caused mayhem for the computer systems of many corporates in Asia Pacific could see insurers in the region faced with hefty claims that no one saw coming.
The property insurance market in the Asia-Pacific (APAC) region is projected to grow at a compound annual growth rate (CAGR) of 10.8%. The property insurance portfolio in APAC wrote around $93bn in written premiums and this is expected to touch $152bn in 2028 according to a new report by GlobalData.