Daily

AUB earnings outlook rockets

25 February 2020

AUB has almost doubled its outlook for earnings growth this financial year after its MGA Whittles and BizCover acquisitions and says the deals will unlock further long-term potential within the group...

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Negligence finding: brokerage faces big compensation bill

25 February 2020

A Gallagher-owned brokerage which failed to advise a client of a copyright infringement risk must compensate the business for the $250,000 in losses it suffered, the Federal Court of Australia has ruled...

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Catastrophe recovery drives Johns Lyng's earnings jump

25 February 2020

Building services provider Johns Lyng today reported a sharp rise in first-half earnings, boosted by the strong pipeline of post-catastrophe recovery work stemming from last year’s Townsville floods and Sydney hailstorm...

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4IR will change everything – if only we knew what it meant

21 February 2020

The fourth industrial revolution, also known as 4IR, will transform insurance and other industries, but most executives have at best a basic understanding of what the concept is about...

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Ambulance applicant loses travel insurance dispute

21 February 2020

A father who took out travel insurance while his child was being taken to hospital by ambulance and an hour before their flight left for North America won’t have his claim paid...

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Coronavirus risk 'outside standard BI cover'

21 February 2020

The SARS outbreak in 2003 contributed to policy changes that will make it difficult now for firms to make coronavirus-related business interruption claims...

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AUB buys Bestmark as three-way merger sealed

20 February 2020

AUB Group has bought Bestmark Insurance Brokers from Principal Ian Garbutt and will merge the business with Comsure and Citycover to form Austbrokers’ largest Queensland brokerage...

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PSC eyes opportunities as it posts strong first-half growth

20 February 2020

PSC Insurance Group is looking to expand into Asia after the business performed strongly in the December half, buoyed in part by acquisitions it has made over the past few months...

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Marsh expands M&A risk services

20 February 2020

Marsh has expanded its private equity and mergers and acquisitions insurance services by forming a tax liability practice aimed at easing corporate clients' regulatory concerns...

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10 million home policies throw up 15 risk solutions

19 February 2020

The Insurance Council of Australia is preparing to publish 15 proposals showing how reducing risk to homes from cyclone, flood and bushfire would result in lower insurance premiums...

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Triple indemnity? Court settles quake claims dispute

19 February 2020

A dispute over whether the maximum sum insured can be claimed more than once, or for separate events, has been decided by a New Zealand court...

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UK regulator says ‘questions remain’ on Lloyd’s

19 February 2020

The Financial Conduct Authority has challenged Lloyd’s and the London Market over their efforts to improve performance as they face increased competition from international rivals...

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QBE faces new climate resolution push from activist group

18 February 2020

Climate activist group Market Forces is planning to lodge another shareholder resolution at the upcoming QBE annual general meeting to try to force the insurer to step up its fossil fuel reduction efforts...

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Court backs Swiss Re after toxic fire claim rejection

18 February 2020

The Supreme Court of Victoria has ruled in favour of Swiss Re International in a property insurance dispute related to a large industrial fire that sent black smoke over Melbourne...

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Lloyd’s on the hook for $235,000 car repair

18 February 2020

Lloyd’s relied on a non-disclosure exclusion to decline cover for damage to a luxury car, but has been ordered by the Australian Financial Complaints Authority to settle the repair bill of more than $235,000...

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RAC Insurance told to pay claimant acquitted of car theft

14 February 2020

The Australian Financial Complaints Authority has found in favour of a claimant as his insurer, RAC Insurance, failed to prove he was making a fraudulent claim for losses caused by the theft and arson of his vehicle...

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Tower seeks action on public’s ‘dim view’ of industry

14 February 2020

New Zealand insurer Tower says the insurance sector should take clear action to improve its standing following inquiries showing the general public takes 'a dim view' of the industry...

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Bushfire claims top Black Saturday losses

14 February 2020

Bushfire losses from this season’s catastrophes have climbed toward $2 billion, an update to Insurance Council of Australia figures today shows...

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Claims reform plan would hit disaster recovery: Suncorp

13 February 2020

Suncorp has warned that people recovering from such catastrophes as the summer bushfires could face lengthier repair times and higher costs due to proposed claims-handling laws...

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Mike Wilkins named QBE Chairman

13 February 2020

Former IAG CEO Mike Wilkins will become QBE Group Chairman at the start of next month, taking over from Marty Becker, who is retiring from the board...

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