Australia Weighs Capping Fees for Litigation Funders, Lawyers as Class Actions Surge May 28, 2021 By Paulina Duran SYDNEY – Australia is considering capping fees for litigation funders and lawyers, and guaranteeing a minimum rate of return for...
Australia’s Regulator Weighs Limits on Life Insurers’ Exposure to Offshore Reinsurance April 8, 2021 Australia’s insurance regulator on Thursday proposed to limit the exposure of life insurers to offshore reinsurers, given its lack of...
Allianz to Buy General Insurance Business of Australia’s Westpac for $534M December 2, 2020 Allianz announced it has agreed to purchase the general insurance business of Westpac Banking Corp., the Australian banking group for...
BMS Appoints Massis as Chairman of Australian Affinity Business November 4, 2020 BMS Group, the London-based independent specialist re/insurance broker, announced the appointment of Cris Massis as chairman of BMS’s Australian affinity...
Marsh Promotes Leney to Risk Management Leader for Asia and Pacific Regions August 14, 2020 Marsh, the insurance broker and risk adviser, announced the appointment of Scott Leney as risk management leader for both its...
Australia to Spend $1.2B to Beef Up Private Sector’s Cyber Defenses After Rise in Attacks August 7, 2020 Australia will spend A$1.66 billion ($1.19 billion) over the next 10 years to strengthen the cyber defenses of companies and...
AIR Worldwide Releases Updated Earthquake Model for Australia July 27, 2020 Catastrophe risk modeling firm AIR Worldwide (AIR) announced the release of its updated Earthquake Model for Australia. These updates were...
Australia to Spend Nearly $1 Billion on Cyber Security During Next Decade June 30, 2020 By Colin Packham SYDNEY – Australia will spend A$1.35 billion ($926.1 million) over the next 10 years to boost its cyber security defenses,...
Arthur J. Gallagher & Co. Acquires Australia’s CA Insurance Brokers June 9, 2020 Arthur J. Gallagher & Co., the Rolling Meadows, Ill.-based broker, announced the acquisition of CA Insurance Brokers in Australia. Terms...
Australia’s 4 Summer Natural Disasters Cost Insurers More Than US$3.44 Billion May 28, 2020 The cost of insurance claims from four natural catastrophes during Australia’s 2019-2020 summer has passed A$5.19 billion (US$3.44 billion), said...