Daily
Aon sets up Climate Advisory Council
09 November 2022
Aon announced today it has established an advisory council in Australia to address climate risks as well as find solutions and mitigation initiatives...
INsight podcast: commissions, climate change and coal
09 November 2022
Recommendations to allow broker commissions to continue are the dominant discussion point on the latest edition of the Insurance News podcast...
Parliamentary committee to inquire into cyclone pool
08 November 2022
The Federal Parliamentary Joint Select Committee on Northern Australia will this month hold a one-day hearing into the cyclone reinsurance pool to consider changes needed for the scheme to operate more quickly and effectively in reducing premiums...
Mind the protection gap: 90% of cyber losses uninsured, Swiss Re says
08 November 2022
The protection gap for cyber crime risk is significant, with premiums amounting to just a fraction of total losses from cyberattacks and most firms either uninsured or significantly underinsured, a new Swiss Re Institute report says...
'Eye on the economy': cost pressures supplant cyber as top business risk
08 November 2022
Rising living costs have overtaken cyber security failures as the biggest worry for Australian business leaders, a global survey of executives carried out by Marsh McLennan and Zurich has found...
Insurer entitled to deny renewal over 'extensive claims history'
08 November 2022
A home contents insurance policyholder whose renewal was declined due to the number of claims she made will not be compensated after a dispute ruling determined that the insurer was entitled to follow its underwriting guidelines...
'Clock is ticking': caravan parks uneasy as 'unaffordable' premiums continue to rise
04 November 2022
Representatives of the caravan park industry say more work is needed to tackle insurance accessability as businesses struggle to afford soaring premiums...
Tough reinsurance renewals loom as rates, retentions in focus
04 November 2022
Reinsurance prices are set to continue to rise and retention levels will also increase in upcoming renewals following more challenging market conditions in the wake of Hurricane Ian and Australian flooding, Swiss Re says...
PSC seals Ensurance UK deal, steps up in HK and Australia
04 November 2022
PSC Insurance Group says it has a binding agreement to acquire the UK business of underwriting agency Ensurance after completing due diligence, after the planned investment was announced in July...
Policy clarity vital as disaster complaints rise: AFCA
04 November 2022
Policy clarity around the risks covered is critical amid a rise in complaints this year related to natural disaster claims, Australian Financial Complaints Authority Lead Ombudsman Insurance Emma Curtis says...
Trigger event shifts dial on natural disaster resilience action
03 November 2022
Australia has experienced a natural catastrophe “trigger event” that is transforming the approach to disaster resilience and recovery, the new head of the National Emergency Management Agency says...
'Catch up and do better': regulators lay out expectations
03 November 2022
The industry has been put on notice to expect increased focus from regulators on a range of pressing issues including pricing failures, policy wording lapses, product designs, climate-fuelled weather events, risk oversight and claims handling delays...
Owners lose claim appeal over stolen jet ski left anchored in bay
03 November 2022
The owners of a stolen jet ski will not have their claim paid after a dispute ruling determined that their insurer was entitled to rely on policy exclusions related to the security of the vehicle’s storage...
Agile casualty product goes online
03 November 2022
Lloyd’s-backed underwriting agency Agile has launched its casualty offering on its online Powered By Agile (PBA) platform, opening it up to more brokers...
ICA releases roadmap targeting net zero emissions
02 November 2022
The Insurance Council of Australia has released a roadmap for insurers to meet emissions reduction targets and says it will advocate on behalf of members and their customers for policy settings that accelerate Australia’s transition to net zero...
Australia's insurtech community gets it right: Gallagher Re
02 November 2022
Gallagher Re says it's time for insurtechs to scrap the disruption agenda and embrace collaboration with incumbent insurers, and points to Australia as a shining example...
Allianz says 38% of home claims are now weather-related
02 November 2022
Allianz is urging Australians to be “weather ready” as around 38% of its claims for home, building & contents so far this year relate to severe weather events...
INsight podcast: governments act on insurance
02 November 2022
The Federal Budget and its focus on insurance is the main topic of conversation on the latest Insurance News podcast...
Conflicted remuneration: advice review recommends keeping commissions
01 November 2022
The Quality of Advice Review has proposed keeping general insurance commissions exempt from the ban on conflicted remuneration, with an additional layer of protection for consumers requiring brokers to first obtain written consent from retail clients for commissions...
SIRA begins performance audits at icare
01 November 2022
NSW’s State Insurance Regulatory Authority has kicked off a series of audits to address concerns about the performance of the Nominal Insurer, which is managed by icare, and the time it is taking to implement case management improvement initiatives...