Daily
'Uninsurable nation': half a million homes face insurance crunch, says report
03 May 2022
Australia faces the dire prospect of becoming an “uninsurable nation”, with more than half a million homes, or one in 25 properties, forced to go without insurance cover in eight years’ time because of climate change, a new report warns ahead of the May 21 federal election...
Lismore acts to avoid 'endlessly repeating' floods heartbreak
03 May 2022
Lismore City Council has proposed “a planned retreat” from high-risk residential areas, government-backed reinsurance protection for the central business district and consideration of a new commercial precinct as it seeks to avoid a repeating cycle of flooding devastation...
Better tools needed to drive climate action investment: actuaries
03 May 2022
Tools and measures relied upon to make investment decisions on climate change adaptation spending are not adequate in the current environment and new approaches are urgently needed, the Actuaries Institute summit heard today...
'Worst is over' for D&O, but floods dent property rate relief hopes: Marsh
29 April 2022
Marsh says the “worst is over” for directors’ and officers’ following the release of its latest quarterly rate tracker, and that the NSW/Queensland floods have curtailed any pricing relief that had been predicted for the property class at the start of the year...
'Lasting legacy': Honan founder dies aged 92
29 April 2022
Tributes have been paid to the founder of Melbourne-based Honan Insurance Group, who has died aged 92...
Strong inflationary pressures fanning claim headwinds
29 April 2022
Property and casualty insurers face profitability pressures this year as inflation increases claims severity while benefits from higher interest rates will take longer to come through, Swiss Re says in a report on the global economy...
Motorcyclist who parked in street, not garage, misses theft payout
29 April 2022
A man whose motorbike was stolen from the street outside his home after he had told his insurer it would be parked in his garage has lost a claim dispute...
Bushfire Building Council launches resilient home project
28 April 2022
An NRMA Insurance-backed project aimed at improving the resilience of homes against floods, bushfires and other weather disasters has been launched, offering free architectural drawings, construction specifications and handbook guides...
ProRisk offers covid cash-benefit insurance
28 April 2022
Professional Risk Underwriting (ProRisk) has launched a covid insurance product that offers a one-off cash benefit if a fully vaccinated policyholder is hospitalised due to contracting the virus...
Mazda driver who forgot to update phone, email loses dispute
28 April 2022
A motorist who missed two policy premium payment instalments when he changed his job, email address and phone number has lost a claim dispute...
INsight podcast: floods continue to cast shadow
28 April 2022
The east coast flood catastrophe continues to dominate discussion on the Insurance News podcast, as one estimate puts insured losses at close to $4 billion...
Rare flood-causing storm cluster points to overlap risks
27 April 2022
A Risk Frontiers paper says the cluster of storms causing extreme rainfall and flooding in Queensland and NSW arose from a rare combination of influences, while warning of severe risks if changing climate patterns lead to greater overlap between tropical cyclones and east coast lows...
Road to resilience: Suncorp strengthens street against extreme weather
27 April 2022
Suncorp has transformed a Rockhampton street by paying for upgrades to homes that will help protect residents from natural catastrophes...
Next government urged to take action on Youpla collapse
27 April 2022
A community coalition led by First Nations groups has released an open letter to the major political parties calling for action to prevent Aboriginal and Torres Strait Islander families being denied the dignity of a culturally appropriate funeral and grieving period due to the collapse of Youpla funeral funds...
Insurer must cover storm-struck shed, despite corrosion
27 April 2022
The owner of a rusty shed has won a payout in a claim dispute after it was blown over by strong winds and partially demolished during a severe storm last winter...
Consumer report criticises industry for poor data practices
22 April 2022
Consumer advocate Financial Rights Legal Centre has released a report expressing concern over the data practices of insurers, such as relying on erroneous historical information to assess new claims...
Cyber, data loss remain top worries for Australian executives
22 April 2022
More than half of executives in Australia list cyber attack as their top worry as extortion and ransomware incidents grow, according to the latest Directors’ Liability Survey from Willis Towers Watson and law firm Clyde & Co...
Forestry Australia working on insurance availability solution
22 April 2022
Forestry Australia says it is working on a solution to increase access to insurance for growers after a decline in the number of providers offering cover and a surge in premiums...
Water ‘drips like rain’ after hydrotherapy pool cover error
22 April 2022
A disability service operator has partially won a claim dispute over mould and moisture damage reported after a hydrotherapy pool cover was accidentally left off by a staff member before a school holiday shutdown...
Allianz appoints GM Distribution in Sydney
21 April 2022
Jason Hawksworth has been appointed GM Distribution at Allianz Commercial, marking his return to the insurer after he departed for Chubb in 2014...