Daily

Two-tier marketplace emerging for property

22 April 2021

A two-tier marketplace is set to emerge for property this year with conditions starting to ease for good risks while “challenged” areas remain difficult, Willis Towers Watson says...

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Job well done: ASIC praises insurers for COVID response

22 April 2021

The corporate regulator has reviewed the responses of general and life insurers to customers suffering hardship during the COVID-19 pandemic, and was pleased with what it found...

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Suncorp's 'meth damage not malicious' stance upheld in claim dispute

22 April 2021

A landlord has lost a claim dispute with Suncorp after her tenants smoked methamphetamine, causing dangerous chemical contamination of the walls, ceilings and other surfaces...

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Auto & General to tweak fire cover terms after Choice lambast

22 April 2021

Auto & General Insurance, which underwrites brands Budget Direct, Virgin Money and ING, says it is making changes to its home insurance after being singled out in a scathing rebuke by Choice for what the consumer group describes as unfair fire definitions...

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Court rules JLT class action to proceed

21 April 2021

The NSW Supreme Court has ruled a dispute between JLT and local governments over insurance cover should proceed as a class action, with a trial scheduled for October...

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Axed music festival avoids policy exclusion by a few days

21 April 2021

Allianz has lost a claim dispute after an event organiser reluctantly cancelled a Sydney weekend music festival on the direction of the local council days before a COVID lockdown came into effect...

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IAG confirms intermediated leadership team line-up

21 April 2021

IAG has formally appointed three EGMs to its Intermediated Insurance Division leadership team, which is to be headed by incoming industry veteran Jarrod Hill...

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INsight podcast: busy week for broker cluster groups

21 April 2021

A slew of announcements from broker cluster groups was the key discussion point for the INsight podcast this week...

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New broker cluster group targets independents

20 April 2021

Broker Co-op – a cluster group formed exclusively for Australian independent brokers – launched today...

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Snailís pace? ICA defends BI claims process

20 April 2021

The Insurance Council of Australia has released a detailed explanation of the industry’s response to COVID-19 related business interruption claims, following criticism of lengthy test cases which compare unfavourably with a similar process in the UK...

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Motoring mutuals dominate customer satisfaction survey

20 April 2021

Personal lines insurance brands run by mutual motoring bodies have come out on top in a Roy Morgan general insurance customer satisfaction survey...

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Minecraft 'insurance edition': NRMA Insurance launches groundbreaking tool

20 April 2021

NRMA Insurance has unveiled a new world for the popular online game Minecraft, to help young Australians learn about preparing for natural disasters...

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AUB widens services offering with Insurance Alliance

16 April 2021

AUB Group has launched The Insurance Alliance – an initiative allowing brokerages to access an expanding range of services offered by the company without becoming equity members of Austbrokers...

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Suncorp hit with add-on class action

16 April 2021

Plaintiff law firm Maurice Blackburn has launched a class action against Suncorp, accusing its AAI subsidiary of using “misleading or deceptive conduct” to sell add-on insurance products at car dealerships...

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'Missed opportunity': ICA attacks NSW stamp duty reform

16 April 2021

The Insurance Council of Australia has criticised the NSW Government’s stamp duty reform proposals for failing to include the abolition of taxes on insurance products...

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Aon-WTW merger decision deadline pushed back

16 April 2021

The European Commission has pushed back its deadline for a decision on Aon’s merger with Willis Towers Watson to July after receiving company submissions on commitments aimed at addressing the regulator’s concerns...

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'Staggering, concerning': Aon says ransomware now 'truly weaponised'

15 April 2021

Ransomware is now “truly weaponised” and this year and next are likely to be the first consecutive years of hardening conditions in cyber insurance after a “notable acceleration” in the pace of price increases in recent months, with insurers suggesting 20-40% rate increases for 2021, Aon says...

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NIBA seeks AFCA improvements on costs

15 April 2021

Brokers have called for a “more robust” Australian Financial Complaints Authority triage system to prevent firms paying disproportionately high costs in some low-value matters and to deter potential gaming of the system...

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ACCC approves rival's plans to up stake in iSelect

15 April 2021

The competition watchdog says it “will not oppose” moves by a rival of iSelect to increase its stake in the listed comparator, after completing an investigation into the proposed investment...

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Envest swoops for another agency acquisition

15 April 2021

Insurance distribution and investment company Envest has acquired another tourism-focused underwriting agency...

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