New research from the Natural Hazards Commission (NHC) reveals many New Zealand homeowners don't fully understand what their natural hazards insurance would cover after an event.
Two-thirds (65%) of New Zealanders say they want to see more focus and resource put into reducing the impacts of climate-related hazards, according to a report by IAG New Zealand.
Markel has appointed Ms Alvernia Xu as head of operations - APAC; Ms Anna Tan as senior underwriter, fine art and specie; Ms Isabelle Wong as cargo underwriter; Ms Jenny Choi as senior underwriter, casualty and Ms Olga Wong as senior underwriter, professional financial risk.
Resolution Life Australasia's has reported a net loss of A$151m ($98.27m) in 2023 (2022: profit of A$310m) under the new accounting standard, IFRS17, notes Fitch Ratings.
Some 96% of all private insurance claims from the Auckland Anniversary weekend and Cyclone Gabrielle weather events have been fully settled by insurers, 16 months after two of New Zealand's most costly natural disasters, says the Insurance Council of New Zealand (ICNZ).
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.
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.
Property insurance premiums across New Zealand have increased by nearly 30% in just 18 months, with more insurers now pricing down to address level as their risk modelling becomes more sophisticated.
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.