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Insurers Must Prepare for climate risk: Hewson

7 September 2016 | walter
The insurance sector must be better prepared for a climate-induced financial crisis hitting the global economy, economist and former politician John Hewson says. “I would suggest to you that one of the biggest challenges for the insurance industry is climate risk and managing that climate risk properly,” he told the Australian Professional Indemnity Group conference in Sydney last week. “I think the industry as a whole is pretty much unprepared for the consequences of what could happen very quickly.”
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Australia faces ‘unprecedented’ cyber threat

11 August 2016 | walter
The Australian Government has announced the launch of a new cyber intelligence unit in a bid to curb financial fraud and terrorism.   The new cyber intelligence unit has been launched by Australia’s primary financial intelligence agency, AUSTRAC, and will be dedicated to identifying online terrorism financing activity, money laundering and financial fraud.   Minister for Justice, Michal Keenan, said that the global and national threat for cyber crime continues to rise.
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CMIB is a supporter of the Daniher Drive

4 August 2016 | walter
CMIB Insurance Services is a financial supporter of the Cure for MND Foundation and the DANIHER DRIVE in particular. The DANIHER DRIVE is a four-day road-trip extravaganza organised for the purpose of raising much needed awareness and funds to find a cure for Motor Neurone Disease (MND). As the name suggests, ‘DANIHER’S DRIVE’ is the brainchild of legendary AFL player and coach, Neale Daniher.
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What is Business Interruption?

28 July 2016 | walter
Would your business survive if it was damaged by a severe weather event, fire, flood or the cessation of a key supplier? How would you cover the cost of revenue and profits lost while you rebuild?
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Heat records broken across southeast

23 March 2016 | walter
Temperatures in parts of Victoria and NSW hit record levels this month and modelling suggests the above-average warmth will extend into next month, according to the Bureau of Meteorology. “The April outlook suggests warmer-than-average days and nights over northern Australia and parts of the southern coastline,” Senior Climatologist Catherine Ganter told insuranceNEWS.com.au.
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Energy Group settles $4 million Blue Mountains lawsuit

23 March 2016 | walter
Endeavour Energy has settled a class action led by IAG over a 2013 bushfire in the Blue Mountains. The suit, which was filed by William Roberts Lawyers, acting for IAG, was settled for $4 million.
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Are Home Networks a Risk for Your Business?

10 March 2016 | walter
It’s not uncommon for staff to take home a company laptop and connect it to their domestic network. That network may be protected by a firewall but internally it is still vulnerable. For example, other devices may be connected, such as family members’ PCs and smartphones, as well as smart TVs, DVD recorders, child monitors, CCTV systems, and even fridges. All of these are capable of being hacked.
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Steadfast hails "outstanding" result

1 March 2016 | walter
Steadfast has reported 6.3% organic growth in revenue to $226 million for the six months to December 31. This figure strips out the impact of Steadfast’s recent acquisitions – Calliden and QBE agencies. With these factored in, revenue growth for the half-year was 108.4%. CEO Robert Kelly told an adviser briefing organic growth is solid despite flat market conditions.
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Insurers struggle to asses damage in cyclone-hit Fiji

1 March 2016 | walter
Damage to Fiji’s communications facilities is making it difficult for insurers to assess the destruction left by Tropical Cyclone Winston, the strongest storm to have struck in the southern hemisphere. New Zealand insurer Tower and global loss adjuster Crawford & Company say it will take a while to estimate insured claims in the Pacific island nation.
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Uber Drivers Beware - Motor Insurance for ridesharing services

2 February 2016 | walter
It is undisputed that the most well known and widely used rideshare service operating in the world today is Uber. Launched in the USA in 2010, and expanding into Australia in 2012, Uber’s app-based service connects drivers known as “driver partners” who use their own personal vehicles to transport customers needing a ride.
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