Helia ‘committed to LMI market’ despite revenue slide

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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...

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...

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...

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...

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...

AFAC cautions looming bushfire threat in NT and WA

24 August 2022

The Australasian Fire and Emergency Services Authorities Council’s Seasonal Bushfire Outlook for spring has warned that parts of central Australia and northern WA are expected to experience a higher bushfire risk in the upcoming months...

Simplicity needed after pricing refund issues: RACQ

23 August 2022

RACQ says increasing complexity has contributed to pricing promise issues and it has embarked on a simplification program to prevent a repeat of failings that will see the insurer refunding around $200 million...

AMA Group rejects profitless repair work as costs rise

23 August 2022

Collision repairer AMA Group says insurer partners have mostly recognised the need to improve pricing, amid shortages of labour and rising costs for vehicle parts and other products, while it has exited some contracts that have remained inadequate as it rejects “profitless work”...

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