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
Innovation in Australia’s insurance industry
Insurance has never been the most exciting industry when it comes to technology or innovation. Even if insurers exist to underwrite risk, they are risk averse when it comes to adopting newer technology or, accepting innovation. However unlike before, we are starting to see a significant change in … [Read more...] about Innovation in Australia’s insurance industry
Autonomous cars shift insurance liability toward manufacturers
Hacker attacks or faulty software could shift the burden of legal and regulatory liability toward makers of self-driving cars and away from customers, experts say, forcing regulators and insurers to develop new models.Autonomous cars have the potential to reduce the rate of traffic accidents as … [Read more...] about Autonomous cars shift insurance liability toward manufacturers
AIG, Chubb and Allianz readying for flood of cyber insurance requests
Insurance companies are readying for an influx of demand from businesses for cyber indemnity products when mandatory data-breach reporting laws are come into effect at year's end.Mandatory data-breach reporting has already been legislated in the United States and Europe.Cyber security experts … [Read more...] about AIG, Chubb and Allianz readying for flood of cyber insurance requests