Daily
New federal disaster agency preparing for 'high risk' flood season
01 September 2022
Australia’s new disaster response co-ordinator, the National Emergency Management Agency, began operations today as weather forecasters maintain the east coast faces a “high risk” of flooding this summer...
Out with the old: new fire danger rating system introduced
01 September 2022
A new, nationally consistent fire rating system which more accurately predicts bushfire threat has been rolled out today in time for the impending fire season...
Claimant wins dispute after insurer fails to prove disclosure warning
01 September 2022
A motor vehicle policyholder who had her claim denied by her insurer due to non-disclosure of a licence loss has won her claims dispute...
'New beginning': Ensurance focuses on Australian market after maiden profit
31 August 2022
Underwriting agency Ensurance says the business is set on growing its Australian operations after achieving a first-ever profit in the last financial year...
Swimmer loses dispute over 'unattended' bag left on beach
31 August 2022
A tourist whose bag and belongings were stolen while he was swimming at a beach overseas will not be covered for his losses after losing a claims dispute...
SIRA censures AAMI over failure to report 'significant matter'
31 August 2022
The NSW State Insurance Regulatory Authority has issued a letter of censure to compulsory third party insurer AAMI for failing to comply with an obligation to report a significant matter...
INsight podcast: future for advice and more claims pain
31 August 2022
The recently released Quality of Advice proposals paper makes for an interesting debate on the latest episode of the Insurance News podcast...
Advice shake-up proposes controversial change
30 August 2022
Personal advice would apply more broadly and a “good advice” duty would replace the “best interests” obligation under a proposed revamp that would have implications for insurers and brokers, and which has sparked consumer group concerns that protections may be wound back...
'Near miss': APRA calls out weaknesses after BI wording lapse
30 August 2022
The prudential regulator has flagged concerns over poor risk management after a review of general insurers found many “identified significant weaknesses in how they managed their insurance risk exposures”...
Landlords lose dispute over vacant property fire
30 August 2022
The owners of an unoccupied home that sustained severe fire damage will not have their claim paid after a dispute ruling determined that their insurer was entitled to decline it...
Zurich's Hilary Bates joins ANZIIF board
30 August 2022
Zurich Financial Services Australia’s local COO Hilary Bates has joined the board of directors at the Australian and New Zealand Institute of Insurance and Finance...
Suncorp, Marsh lead winners list at ANZIIF awards
26 August 2022
Suncorp and Marsh have taken top gongs at this year’s Australian Insurance Industry Awards...
Answers still needed on cyclone pool: RACQ Insurance
26 August 2022
Queensland's RACQ Insurance says questions remain to be answered before it can join the government-backed cyclone pool, with clarity needed soon as it prepares to renew its own reinsurance arrangements...
Johns Lyng ups stake in Bright & Duggan
26 August 2022
Johns Lyng Group has raised its equity interest in Bright & Duggan to become the largest shareholder in the Sydney-headquartered strata and facilities management business...
'Unreasonable delay': business compensated for lengthy excavator repairs
26 August 2022
A complainant who lodged a claim for a damaged excavator will be compensated after a dispute ruling determined the insurer took an unreasonable amount of time to complete the repairs...
Industry rides on premium increases to eke out 0.3% profit rise
25 August 2022
General insurers in Australia managed to achieve a 0.3% rise in combined net profit after tax to $924 million in the year to June 30, as rate hikes across most product classes blunted the impact of the NSW/Queensland flood claims and investment losses, prudential data released today shows...
Insurer climate risk responses 'significant for society'
25 August 2022
Insurer decisions to reduce coverage due to climate change risks could have “significant implications for society, the economy and the financial system”, Reserve Bank of Australia (RBA) Head of Domestic Markets Jonathan Kearns says...
'Biggest trauma': claimants lash out over insurer processes
25 August 2022
Melbourne academics who interviewed 30 policyholders undertaking legal advice over their claims outcomes say “arduous and confusing” insurer handling processes may not comply with the industry code of practice...
Unvaccinated travellers lose dispute over cover denial
25 August 2022
A traveller who lodged a claim after she was not allowed to board her booked flight and mandated to complete a 14-day quarantine because of her covid vaccination status has lost an appeal to overturn her insurer’s decision to deny coverage...
AUB earnings rise, momentum continues
24 August 2022
AUB Group earnings have jumped following a strong rise in profit from Australian broking and expansion of the agencies business, as the company looks toward the completion of its major UK Tysers acquisition...