Latest Australia Headlines
All the headlines from our Australia Topic Page, ordered by recency.
Australia Faces Growing Risk of Foot-and-Mouth Disease as Indonesia Outbreak Spreads
Jun 3 2022 // The risk of foot-and-mouth disease reaching Australian shores has escalated as an outbreak sweeps through cattle herds in Indonesia. More than 20,000 animals have been infected by foot-and-mouth disease across 16...
Australia’s AUB Group Agrees to Purchase UK Broker Tysers for US$615.2 Million
May 10 2022 // Australia’s AUB Group has entered into a binding agreement to purchase UK insurance broker Tysers for A$880 million (US$615.2 million) from private equity firm Odyssey Investment Partners. AUB Group recently raised...
Insurance Price Tag for Australia’s Record-Breaking Floods Estimated at A$3.35B: ICA
May 6 2022 // The storms and floods that hit South-East Queensland and coastal New South Wales in February and March are likely to be Australia’s costliest floods on record, according to the Insurance Council of Australia...
Australia’s Westpac Banking Fined A$113M for Multiple Compliance Breaches
Apr 22 2022 // An Australian court ordered Westpac Banking Corp. to pay A$113 million ($82.92 million) in penalties for multiple compliance failures across its businesses, after hearing the last of the six cases filed against it by the...
Insured Losses From Eastern Australia Floods Estimated at A$4B: PERILS
Apr 21 2022 // Initial insurance losses for the Eastern Australia floods are estimated at A$3.99 billion (US$2.97 billion), according to PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance...
Australia Should Force Firms to Report Human Rights Abuses in Anti-Slavery Law: Analyst
Apr 8 2022 // Australia should force companies to report potential human rights abuses as part of a review of its modern slavery disclosure rules, according to an analyst at a A$16 billion ($12 billion) fund manager who helped draft the...
Reinsurers to Bear Brunt of Australia Flood Claims: AM Best
Apr 5 2022 // The majority of gross losses from recent devastating flooding in Australia likely will be borne by reinsurers with limited impact on primary insurers’ balance sheets, according to an AM Best report. The flooding...
Update: Heavy Rains Deluge Australian Towns for 2nd Time in a Month
Mar 30 2022 // Heavy rains deluged Australia’s east coast on Wednesday, submerging entire towns, while thousands of people fled their homes for the second time within weeks after fast-moving flood waters burst river banks and broke...
Greenlight Re Innovations Invests in Australia’s Audit Insurance Startup AuditCover
Mar 25 2022 // Greenlight Re Innovations (GRI), part of Greenlight Capital Re Ltd., announced an investment in AuditCover Australia Pty Ltd., a tax audit insurtech. The amount of the investment was not disclosed. AuditCover is an...
Australian Court Overturns Ruling Requiring Mine Regulator to Weigh Climate Harm to Children
Mar 15 2022 // An Australian court on Tuesday overturned a groundbreaking ruling from last year that required the country’s environment minister to consider harm to children from climate change as part of the approval process for a...
Australia, Netherlands Start Legal Proceedings Against Russia for Crash of Flight MH17
Mar 14 2022 // Australia and the Netherlands started legal proceedings against Russia over the downing of Malaysia Airlines Flight MH17, more than seven years after the deadly crash. The move, at the International Civil Aviation...
Climate Change Is Making Australia a More Difficult Place to Live: Prime Minister
Mar 9 2022 // Australia’s Prime Minister Scott Morrison conceded that a changing climate is making the country a more difficult place to live as he declared recent destructive flooding on the east coast a national...
Property, Motor Vehicle Insurance Claims From Severe Australia Floods at A$900M and Rising
Mar 4 2022 // Property and auto insurers in Australia have received 60,163 claims related to the ongoing disastrous flooding in South-East Queensland and New South Wales. Based on previous flood events, the Insurance Council of...
Record Floods on Australia’s East Coast Have Cost At Least 14 Lives
Mar 3 2022 // Sydney was preparing on Wednesday for dangerous flash flooding as population centers farther north began a massive cleanup operation after record floods that have claimed at least 14 lives along Australia’s east...
HDI Global Restructures Asia-Pacific Operations, Simplifying Reporting Structures
Feb 17 2022 // Industrial insurer HDI Global SE has restructured its Asia Pacific operations in a move designed to simplify reporting structures in the region and strengthen its offering for customers and business partners. The reform of...
Gangs Now Arbitrate Payment Disputes as Ransomware Growth Continues
Feb 14 2022 // Cyber criminal gangs are getting increasingly adept at hacking and becoming more professional, even setting up an arbitration system to resolve payment disputes among themselves, according to a new report by the United...
‘Disturbing’ Culture of Sexual Harassment, Racism, Bullying Found at Rio Tinto: Report
Feb 1 2022 // A report released by Rio Tinto on Tuesday outlined a culture of bullying, harassment and racism at the global mining giant, including 21 complaints of actual or attempted rape or sexual assault over the past five...
First Online M&A Insurance Marketplace Launches in Australia
Jan 31 2022 // io.insure, the world’s first online mergers and acquisitions (M&A) insurance marketplace for small and medium-sized business (SME) transactions, announced it has launched in Australia. The io.insure marketplace...
Australia’s Adani Coal Mine Nears 1st Shipment, Despite Climate Activists’ Campaign
Dec 27 2021 // MELBOURNE – India’s Adani Group is preparing to ship the first coal cargo from Australia’s most controversial mine, after battling a seven-year campaign by climate activists and defying a global push away...
Insurance Losses for October Storms in Southern Australia Estimated at A$1.03B
Dec 13 2021 // The initial industry loss estimates for Southern Australia’s severe storms, which occurred during the period of Oct. 28-30, 2021, are A$1.03 billion (US$739 million), according to PERILS, the independent Zurich-based...
