Daily
Aussie insurtech secures backing from Chinese tech giant, Silicon Valley
21 January 2022
Sydney-based Reask has closed its first round of capital raising with support from Chinese tech giant Tencent and other Silicon Valley investors, boosting the insurtech’s bid to become a key natural catastrophe modeller using artificial intelligence...
No excuses: AFCA says customers should know claims history
21 January 2022
A couple who failed to remember all of their previous claims while purchasing an Auto & General motor policy have lost their claim dispute...
NZ insurer assessing impact of Tonga tsunami
21 January 2022
New Zealand insurer Tower said today it has 2500 customers in Tonga and is assessing the impact of last week’s underwater volcanic eruption and tsunami...
IAG wins court fight over factory fire
20 January 2022
IAG has successfully defended court action over a declined multi-million dollar claim after it argued that a massive fire at a Queensland bedding factory was started deliberately...
Big Red Bash loses cancellation cover battle
20 January 2022
The organiser of the annual Big Red Bash music festival in outback Queensland has lost a court battle with Lloyd’s underwriters over a $3.18 million event cancellation claim triggered by the pandemic...
Australian travel insurer acquired by Generali subsidiary
20 January 2022
Europ Assistance, a subsidiary of Europe’s third largest insurer Generali Group, has acquired local travel insurance provider InsureandGo for an undisclosed amount from Spanish insurer Mapfre...
No damage, no cover: insurer denies claim for landslide-threatened property
20 January 2022
Homeowners whose property was deemed “an unacceptable risk to human life” following a landslide will not be able to claim on their home and contents insurance policy...
Darren O’Connell joins IAG intermediated team
19 January 2022
IAG announced today Darren O’Connell will start on February 1 as EGM Underwriting at its Intermediated Insurance Australia division headed by Group Executive Jarrod Hill...
Auto-renewal wrangle: insurer must refund six years of premium
19 January 2022
An Allianz customer has won a premium refund after the Australian Financial Complaints Authority (AFCA) decided he had not given permission for a landlord policy to automatically renew...
BI, cyber joint top Australia threats: Allianz risk survey
19 January 2022
Supply disruption and other forms of business interruption, along with cyber breaches, pose the biggest threats to corporate Australia over the next 12 months, while pandemic outbreak, the top risk last year, slipped to sixth in an annual Allianz Global Corporate and Specialty survey...
ASIC poised to act on failures as 'new chapter' begins for claims
19 January 2022
The corporate regulator is “ready to act” if it detects harmful conduct related to insurance claims handling or settlement, following recent reform...
Rain-inducing La Nina likely near peak
18 January 2022
The La Nina weather pattern is likely “near or at its peak” with a return to neutral conditions expected in the autumn, the Bureau of Meteorology says in its Climate Driver Update...
Prices rise in challenging reinsurance renewals
18 January 2022
Reinsurers have gained further price rises after a challenging January renewal season involving some tense and protracted negotiations, brokers have reported...
Howden RE appoints treaty reinsurance executive director
18 January 2022
Howden RE says it has recruited Richard Pike as Executive Director Treaty Reinsurance, a newly created role within the business in Australia...
Claim declined for Queensland quarantine detour
18 January 2022
A traveller caught out by Victorian border closures has lost a dispute lodged with the Australian Financial Complaints Authority over a claim for expenses incurred after isolating in a Queensland hotel...
'Certainty needed' on cyclone pool details
17 January 2022
RACQ says cyclone reinsurance pool draft legislation gives only “half the picture”, the July starting date looks doubtful and changes are needed to ensure the arrangements will work effectively for policyholders and the industry...
Insurers welcome $200 million resilience promise
17 January 2022
Insurers have welcomed a Federal Labor pre-election promise to invest up to $200 million a year on disaster prevention and resilience...
SLE CEO Raj Nanra begins tenure
17 January 2022
Newly appointed SLE Worldwide Australia CEO Raj Nanra has started in the role, taking over from Brad French, who left the underwriting agency at the end of last year...
Juice bar theft falls outside policy's 'forcible and violent' coverage terms
17 January 2022
A juice bar owner who disagreed with QBE’s decision to reject her claim for theft on the basis the crime did not meet the terms of coverage as stated in her business insurance policy has lost her dispute before the Australian Financial Complaints Authority...
Report proposes 'self-funding' insurance model for export industries
17 December 2021
The insurance industry’s climate policies and their impact on Australia’s fossil fuel-led export industries dominate the findings of a parliamentary inquiry into the prudential regulation of investment in the sector...