Greensill Capital has made headlines for its rapid demise after two major Swiss banks turned off about $14 billion worth of funding. The 10-year-old company, which has blue chip clients such as CIMC, Telstra and Whyalla, had reported a $US49.4 million after-tax profit in calendar 2018 (from a … [Read more...] about How Insurance Sparked the Fall of a Bundy Billionaire
IAG, whose brands include CGU and NRMA Insurance, has joined other major insurers such as Suncorp in significantly increasing their home premiums, which, according to the Australian Financial Review, has “lifted by 6 percent on average in the past six months” (Suncorp has claimed its premiums would … [Read more...] about Has the Cost of Home Insurance Spiked Again? Here’s how to Fight Rising Premiums
There’s no doubt that insurance premiums are on the rise. This is particularly true for Director’s and Officer’s (D&O) Insurance. See also: How to Avoid Rising Costs of Insurance Premiums. According to research quoted by the Australian Financial Review, “D&O premiums increased on … [Read more...] about D&O Premiums are Rising. Here’s What Directors Need to Know
Previously, I spoke about how, in terms of insurance, businesses can prepare for wet weather events like La Niña. Even if La Niña has not yet translated into wet conditions over the spring season, businesses should still be vigilant over the coming months. A Niña is a phenomenon associated with … [Read more...] about We Haven’t felt the Full Impact of La Niña yet – is it Time to Relax?
The Australian Financial Review recently reported how a fake Zoom invite led to the demise of Sydney-based hedge fund Levitas Capital. It was reported that after one of the fund’s co-founders opened the Zoom link, a hacker was able to send off a series of fake invoices on behalf of the … [Read more...] about This Company Just Lost $8.7 Million From a Cyber Attack. Could This Happen to You?
As the world braces itself with natural disasters, pandemics and uncertain market conditions, many Australian businesses are feeling the strengthening pinch of insurance premiums - there have been reports, for example, of excesses increasing from $100,000 to $250,000 and premiums from $224,000 to … [Read more...] about Business Insurance Premiums are Skyrocketing. Here are 4 Easy Ways to Avoid Rising Costs