Daily
AFCA supports more standard definitions
26 April 2024
The Australian Financial Complaints Authority has backed proposals to introduce more standard definitions for natural disasters, arguing it will help consumers compare products and cut complaints...
Repairer shortage condemns electric vehicles to scrapheap
26 April 2024
A lack of certified repairers is leading to electric vehicles being written off with only minor damage rather than fixed, industry experts say...
Resilience grants to help apartment blocks weather the storms
26 April 2024
Apartment blocks in northern Queensland will have access to $60 million in federal and state funding for resilience measures, in a program similar to one already aiding houses...
Complaints authority rejects insurer’s landslide exclusion
26 April 2024
A company that claimed for damage caused by a landslip following a storm has won its bid to overturn its insurer’s application of a policy exclusion...
Commercial rates fall 2% in first drop since 2016
24 April 2024
Australian commercial premium rates have declined for the first time since 2016, falling 2% in the first quarter, according to Marsh’s latest Global Insurance Market Index, released today...
Homeowners lose fight against $1.5m slip damages
24 April 2024
A woman who was awarded more than $1.5 million in damages after slipping on a driveway at an open house inspection has had her compensation upheld in an appeal court...
No payout for firm after director’s son writes off Ferrari
24 April 2024
An Australian Financial Complaints Authority panel has backed an insurer’s decision to decline a business’ claim for damage to a Ferrari 448 that was crashed by a company director’s son...
INsight podcast: insurance implications of shopping centre stabbings
24 April 2024
The insurance impact of the fatal stabbings at Sydney’s Bondi Junction Westfield is the main topic of discussion on the latest Insurance News podcast...
Broker denies misuse of millions in client funds
23 April 2024
Former broker Renato De Maria today pleaded not guilty to charges he issued inflated insurance premium invoices to corporate customers and misused millions of dollars held in trust accounts...
Gallagher acquires Sydney trade credit insurance broker
23 April 2024
Global broker Gallagher says Prasidium Credit Insurance has joined the business, enhancing its trade credit insurance expertise in the Australian market...
Industry split on cyclone pool time limit extension
23 April 2024
Insurers have given diverse views to a parliamentary committee hearing on whether the cyclone reinsurance pool should cover flooding related to events beyond a current 48-hour limit...
AFCA rejects 'home contents' claim for damaged car
23 April 2024
An insured who sought cover under his home and contents policy for damage to his non-driveable car has lost a dispute over his insurer’s decision to reject the claim...
ASIC appeals against unfair contract term ruling
19 April 2024
The Australian Securities and Investments Commission is challenging a court ruling that a notification clause in Auto & General home and contents policies did not breach unfair contract terms laws...
Greens urge state to ease gig venue premiums
19 April 2024
The Victorian Greens have called on the State Government to offer cheaper insurance for struggling live music venues through the authority that provides public sector and builders’ warranty cover...
Flood inquiry told of insurers’ progress on claims
19 April 2024
A flood-hit community has told a federal inquiry session in Heathcote, Victoria, that claims handling this year has been “much more positive” than after previous catastrophes...
Hawaii holidaymaker loses dispute over wildfire exclusion
19 April 2024
A Mitsui Sumitomo customer who bought a travel policy to visit Hawaii was not misled by the way optional natural disaster cover was presented on the insurer’s website, the industry’s dispute adjudicator has ruled...
Code review panel opens consultation
18 April 2024
The independent panel reviewing the General Insurance Code of Practice has released an initial consultation paper seeking feedback on areas including financial hardship, customer vulnerability, enforceability and claims handling...
Brokers accused of misleading clients over flood cover
18 April 2024
Some flood-hit business owners have alleged they were misled by their brokers over the extent of their cover, the federal inquiry into insurers’ handling of record-breaking floods heard today...
Tomorrow’s strata: Insurance News launches expert-led seminar
18 April 2024
Insurance News will hold a focused half-day seminar on May 30 to explore current trends and future challenges in the expanding strata sector...
Builder loses subsidence claim dispute
18 April 2024
An experienced builder has lost a claim dispute with Youi over ground movement damage to walls, floors, ceilings, windows and doors in the six months after a storm...