Daily
Insurer wrong to deny travel claim by saying deceased relative broke law
25 February 2022
A travel insurer has been ordered to pay $18,000 after incorrectly denying a claim after the policyholder’s brother-in-law was killed in a road crash days before the trip was due to start...
Genworth sees drop in refinancing denting 2022 premium growth
25 February 2022
Genworth Mortgage Insurance says a shift in policy cancellation behaviour may see its annual net earned premium drop to more typical levels in the current year after jumping 19% to $370.5 million in 2021 as homebuyers chased lower mortgage rates...
Cover Genius sells 10 million policies, doubles local team
25 February 2022
Insurtech Cover Genius says a “momentous” year of growth has pushed its policy sales past 10 million, seen the size of its team in Australia and New Zealand nearly double and sales of XCover – which is available on Amazon – rocket...
Industry target of malicious, criminal attacks
24 February 2022
Malicious or criminal attacks account for more than half of data breaches that affected the insurance industry, the Office of the Australian Information Commissioner’s latest update for the half-year to December shows...
Johns Lyng manager's dismissal deemed valid, but procedure unfair
24 February 2022
A Victorian man has been awarded a small fraction of the unfair dismissal compensation he was seeking from building services company Johns Lyng after it terminated his employment for sending inappropriate messages, promoting his own business and neglecting duties during working hours.
Descartes partners with Reask on cyclone cover
24 February 2022
Parametric insurance specialist Descartes Underwriting has teamed with Sydney-based risk analytics firm Reask as it looks to expand its global cyclone coverage...
Government insurer steps up hunt for industry partner
24 February 2022
The Defence Service Homes Insurance Scheme is searching for an industry partner to work on software solutions and management and administration services...
Pricing, acquisitions boost Steadfast earnings
23 February 2022
Steadfast first-half earnings have jumped after stronger pricing boosted the broking and underwriting agency divisions and as the company continues to pursue acquisitions...
PSC earnings soar on UK contribution, organic growth
23 February 2022
PSC Insurance Group today reported stronger-than-expected earnings for the six months to December, fuelled by contributions from its UK and Australia acquisitions as well as organic growth across all business segments...
Cat owner tries to blame insurer after fatal snake bite
23 February 2022
A pet owner has lost a dispute over liability after his cat died after it was taken to a vet and treated for a suspected snake bite last summer...
INsight podcast: BI test case done, but not quite dusted
23 February 2022
The Full Court appeal ruling on the second industry test case related to covid business interruption claims is the focus for the panel on the latest Insurance News podcast...
High Court appeal pondered after insurer BI win
22 February 2022
Insurers are working through the details of the business interruption Full Court decision that went mostly in their favour yesterday as the parties consider whether issues should be pursued through a High Court appeal application...
ICA ramps up resilience call ahead of election
22 February 2022
The Insurance Council of Australia has launched a national campaign ahead of the federal election advocating greater government spending to reduce natural catastrophe impacts and wider reforms to drive resilience...
AUB bullish after first-half earnings jump
22 February 2022
AUB Group today adjusted upwards its earnings guidance for this financial year, buoyed by a sharp first-half showing from its Australia broking and agencies businesses as well as contributions from BizCover, an online platform in which it owns a minority stake...
AFCA rules $227,000 jewellery claim was fraud
22 February 2022
An unemployed Suncorp policyholder seeking a payout of almost a quarter of a million dollars for the theft of 74 items, mostly jewellery, has lost an insurance dispute after the claim was deemed fraudulent...
QBE swings to profit as premiums surge
18 February 2022
QBE has reported a $US750 million net profit compared with a $US1.52 billion loss in the previous year after strong pricing and a surge in gross written premium offset catastrophe claims impacts...
Labor would ensure pool put in place if elected: MP
18 February 2022
Labor would ensure that the cyclone reinsurance pool is put in place if elected this year, a Member of Parliament has said during debate on the bill, while the Opposition is also putting pressure on the Morrison Government to release modelling behind the scheme...
ICA says mitigation message is getting through to politicians
18 February 2022
The Insurance Council of Australia says there has been a “discernible shift” in politicians' attitudes towards investing in natural disaster mitigation measures...
'Applied incorrectly': insurer loses dispute over submerged boat exclusion
18 February 2022
The owners of a boat worth almost half a million dollars have won a $70,000 payout, compensation and reimbursement of legal fees in a claim dispute after the vessel’s engine compartment and sleeping cabin flooded...
BI test case appeal decision set for Monday
17 February 2022
The Full Court is scheduled to deliver an appeals decision on the Insurance Council of Australia second covid business interruption test case on Monday morning...