IAG faces shareholder heat over results, remuneration 22 October 2021 IAG defended its 2021 remuneration scheme at today’s annual general meeting as shareholders questioned the decision to award bonuses despite a number of management lapses that led to a full-year financial loss of $427 million... Read More...
COVID-related delays 'concerning': ICA chief 22 October 2021 The Insurance Council of Australia is “very worried” about the impact of COVID-related issues on claims turnaround, and is battling to make sure the problem does not worsen this disaster season... Read More...
icare publishes reform progress dashboard 22 October 2021 NSW state insurer icare says at least 70% of activity to address recommended improvements made by a number of reviews is underway, and it has identified 463 past workers’ compensation claims with underpayments totalling $3.87 million... Read More...
Traveller who caught COVID loses claim dispute 22 October 2021 A traveller who left Australia on a one-way flight, caught COVID and was unable to return home has lost a claim dispute with Zurich on the basis the coronavirus was not an unforeseeable event when he departed in September last year... Read More...
ICA urges NSW Premier Perrottet to make reforms 18 October 2021 The Insurance Council of Australia has called on the new NSW Premier Dominic Perrottet to extend proposed stamp duty reforms to insurance and for the state to take a fresh look at abolishing the emergency services levy... Read More...
IAG could face financial penalties after ASIC action 18 October 2021 The Australian Securities and Investments Commission has asked the Federal Court to impose monetary penalties against IAG over alleged breaches of financial laws... Read More...
Pressure builds on insurers to stop reimbursing ransomware payments 18 October 2021 Two major reports last week criticised the payment of ransoms to cyber criminals, putting pressure on the insurance industry for reimbursing clients under attack... Read More...
FSC white paper sets out way forward for advisers 18 October 2021 The Financial Services Council’s plan to reform the advice sector, which it says will deliver cost savings of $91 billion over 20 years if implemented, have the backing of other peak bodies... Read More...
Aon Insights seminar talks cyber, climate challenges 18 October 2021 Broker Aon’s annual Insights Series Pacific starts tomorrow, featuring more than 25 speakers who will discuss key challenges facing businesses such as cyber security and climate change... Read More...
Australian tech budget shortfall 'most pronounced' 18 October 2021 Australian firms have a backlog of digital transformation projects which unsustainably dwarf IT budgets, new research finds... Read More...
Reinsurers cushioned even as cat losses try budgets: S&P 18 October 2021 Very strong capital adequacy at global reinsurers continues to provide a cushion even as 2021 is likely to be the fifth year in a row of natural catastrophe losses at or above budget expectations, S&P Global Ratings says, including more than $US20 billion of COVID-related insured losses in the past 18 months... Read More...
To pay or not to pay? Ransomware blame game ramps up 18 October 2021 Insurers can be an easy target when things go wrong – and responses to the current ransomware epidemic illustrate the point perfectly... Read More...