Daily

Study wants ‘Medicare-style’ insurance pricing

22 May 2020

A University of NSW report wants a “Medicare-style” system introduced to address the premium affordability problem in bushfire-prone areas...

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Smoke, but no claim: BI appeal lost

22 May 2020

A small business which lost more than $150,000 in profit when thick smoke from bushfires on SA’s Kangaroo Island deterred tourists in January has lost its dispute over a Business Interruption claim...

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Class action funders placed under AFSL regime

22 May 2020

Litigation funders will be required to hold an Australian Financial Services Licence, stepping up regulation of a sector blamed for fuelling class action activity and directors’ and officers’ insurance premium increases...

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Insurers' experts to speak on Day 1 of bushfire inquiry

22 May 2020

IAG head of natural perils Mark Leplastrier and Sharanjit Paddam, who is head of Environmental, Social and Governance Risk at QBE and also convenes the Actuaries Institute Climate Change Working Group, will address the bushfires royal commission on Monday as hearings get underway...

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Steadfast earnings ‘remain strong’ despite virus

21 May 2020

Steadfast Group said today in a trading update its business is performing well despite the significant impact of the coronavirus outbreak on the Australian economy...

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Police, ASIC stay silent on Winley fraud

21 May 2020

Those responsible for the “misappropriation” of $8.69 million that led to the collapse of Perth authorised representative company Winley Insurance Group in 2016 will likely go unpunished by Australian authorities...

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AFCA puts brakes on Mercedes 'staged accident' claim

21 May 2020

A woman whose Mercedes was written off has lost a $73,000 insurance dispute after the Australian Financial Complaints Authority ruled there was an opportunity to stage the accident...

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Insurers key for post-COVID resilience: Swiss Re

21 May 2020

The insurance industry has a critical role to play in strengthening resilience as countries recover from the impact of the COVID-19 pandemic, Swiss Re Chief Economist Jerome Haegeli says...

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Winley missing millions ‘gone for good’

20 May 2020

Attempts to recover more than $8 million that disappeared from the accounts of failed Perth authorised representative company Winley Insurance Group have been unsuccessful...

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QBE wins exclusive LMI deal with big lender

20 May 2020

QBE has been selected as the exclusive provider of Lenders Mortgage Insurance to the home loan customers of National Australia Bank...

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Steadfast backs Mansfield Awards

20 May 2020

Steadfast will once again support the Mansfield Awards, the industry’s premier claims awards scheme...

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Brokers told to prepare for looming UCT reforms

20 May 2020

Insurance brokers have been urged to start preparing for the unfair contract terms reforms that will commence next year...

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Whelan prepares to bow out as successor appointed

19 May 2020

Outgoing Insurance Council of Australia CEO Rob Whelan has spoken of his pride in his team as he prepares to leave in September, when successor Andrew Hall joins from Commonwealth Bank...

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NIBA plays a straight bat on BI wordings issue

19 May 2020

The National Insurance Brokers Association says intermediaries should assess individual policy wordings before advising clients on business interruption claims – and adds that “the last thing brokers want to see is an unstable insurance sector”...

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Submerged car covered, dealer to blame

19 May 2020

A motorist with a poor driving record whose Toyota Landcruiser became submerged in seawater has won an insurance dispute after the Australian Financial Complaints Authority ruled the car dealer who sold the policy failed to highlight the duty of disclosure...

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Queensland boosts cyclone resilience funding

19 May 2020

The Queensland Government has announced funding to extend a grants program that helps improve the resilience of homes and reduces premiums in cyclone-affected regions...

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Exclusion confusion: lawyers disagree on BI wording dispute

15 May 2020

Australian law firms have expressed a range of views on whether exclusions within business interruption policies that refer to a repealed act of parliament will hold up...

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AFCA orders payout for man who didn’t have cancer

15 May 2020

A man who had a tumour believed to be malignant removed on expert medical advice – but discovered he did not have cancer after the surgery – has won a dispute over a claim under his trauma policy with life insurer OnePath...

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Parliamentarians press ahead with class action inquiry

15 May 2020

A parliamentary inquiry into the class action system, targeting litigation funders and regulatory oversight of funding arrangements, has been launched after being delayed by the coronavirus outbreak...

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Pay up, container spill insurer told

15 May 2020

The Australian Maritime Safety Authority has accused London-based marine insurer Britannia P&I of using “every trick in the book” to avoid paying for the cost of cleaning up pollution caused by a ship it insured...

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