Live Insurance News

Insurance news from Australia shows surprising spending of disaster payouts

January 15, 2013April 30, 2013

Many victims are using their funds to help to pay their vet bills for pet care. A recent insurance news report has shown that the disaster emergency fund payments are being spent in ways that were not expected, as data indicates that thousands of policyholders are spending half of the money they collect on veterinary bills. The statistics were collected through cumulative figures generated by emergency fund debit card use. In order to help disaster victims as quickly as possible, the insurance news reported, insurers have been issuing debit cards…

Insurance news from Australia shows growing fire damage

January 9, 2013January 9, 2013 Julie Campbell

Warnings have been issued as the flames from the wildfires continue to spread in Tasmania. The latest insurance news from Australia is that the insurers in the country are now issuing warnings to businesses and homeowners in order to be vigilant with their coverage as the wildfires continue to rage their way throughout the island state. The heat wave conditions continue to sizzle throughout the region, giving no respite from the fires. Rob Whelan, the chief executive of the Insurance Council of Australia, has stated that the continuing stream of…

NRMA Insurance uses QR code for music-based promotion in bus shelters

February 11, 2012January 10, 2024 H. Cutner

Innovative QR Code Campaign by NRMA Insurance Engages Consumers and Highlights Unique Coverage Benefits NRMA Insurance has launched its latest campaign, which uses QR code technology to help engage mobile device using consumers and encourage them to learn more about the car coverage products available from the insurer. The campaign is running in Australia, with a barcode posted on bus shelter ads, such as the one located in Sydney just outside the Wynyard Station. The shelter itself has been fitted with stereo speakers, which are connected to the use…

Chartis to cancel 3,000 insurance policies for Australian soldiers in Afghanistan

January 30, 2012January 30, 2012 S.Vagus

Chartis Insurance, an international insurance group based in the U.S., has announced that it will be canceling the death and disability insurance policies of some 3,000 Australian soldiers serving in Afghanistan. The move is spurred by a shrinking insurance pool and a high rate of cancellations and payouts on claims. The company, which is a subsidiary of AIG, claims that the cancellations were necessary in order to continue providing benefits for holders of health policies. The problem, however, is that the Australian government is now left to handle the cost…

Australian government may need to take aggressive steps to protect the nation from future natural disasters

December 27, 2011May 6, 2013

This year’s natural disasters have reaped a heavy toll on the Australian insurance industry. A number of floods, cyclones, wildfires and other storms have generated a multitude of claims throughout the country, totaling more than $4.39 billion in insured losses. The Insurance Council of Australia (ICA) calls the disasters the worst in recent history. The impact of natural disasters will only get worse if the government does not take measures to protect communities, according to Rob Whelan, chief executive of the ICA. The majority of homes and businesses in regions…