AFCA set to act quickly on BI disputes

19 November 2021

The Australian Financial Complaints Authority says it will move quickly to resolve business interruption disputes related to COVID-19 once the outcome of the second test case is known...

Steadfast sets up valuation services arm, eyes acquisitions

19 November 2021

Steadfast Group has established Steadfast Valuation Services and also entered into a new syndicated facility agreement for $660 million to support potential acquisitions...

MLC hit with ASIC action over alleged insurance failures

19 November 2021

The Australian Securities and Investments Commission has commenced Federal Court action against MLC Life, alleging “multiple insurance failures” over a 21-year period caused more than $17.5 million in financial harm to 260,000-plus customers...

Suncorp business interruption court case settles

18 November 2021

Federal Court action taken against Suncorp over a rejected COVID-19 business interruption claim lodged by a Melbourne restaurant has been resolved, the insurer said today...

AA Insurance scoops NZ insurer award

18 November 2021

AA Insurance emerged dual winners at the New Zealand Insurance Awards prize ceremony, taking home the general insurance company and insurance learning program of the year awards...

Homeowners lose dispute after 'complete ruination' by squatters

18 November 2021

IAG has won a claim dispute with the owners of a house declared unfit for human habitation and described by neighbours as sliding into "gradual and complete ruination” due to squatting by “drug addicts, homeless people and derelicts”...

INsight podcast: brokers' code review moves forward

18 November 2021

Progress on the much-delayed Insurance Brokers Code of Practice review is the main discussion point on the latest Insurance News podcast...

Coastal areas need $30 billion protection spend: ICA report

17 November 2021

Australian governments will need to spend $30 billion on coastal protection measures over the next 50 years as climate change increases risks to communities, properties and infrastructure, a report released today by the Insurance Council of Australia says...

Climate risks causing investment rethink

17 November 2021

Climate issues are challenging insurers to rethink investment strategies, while the search for higher returns is driving a change in risk appetites, global investment firm BlackRock says...

Suncorp finalises list of home repairs partners

17 November 2021

Suncorp has a new panel of builders following a “competitive” tender process to provide quality repairs across all home insurance claims for the next five years, the insurer announced today...

'Implausible': phone records discredit car theft claim

17 November 2021

A driver claiming her burnt out car was stolen and dumped 20km away while she was having a drink and playing the pokies at a hotel with a friend has lost a dispute with her insurer on the basis of fraud...

JLT council class action hearings conclude

16 November 2021

A lengthy class action trial over local government insurance mutuals has concluded in the NSW Supreme Court, but a judgment is not expected for months...

360 Underwriting bolsters executive team

16 November 2021

360 Underwriting Solutions has added three experienced industry executives to its group services division as the business moves into its fifth year of operation...

Victorian practice takes top Resilium award

16 November 2021

Melbourne-based Australian Consolidated Insurance Services has been named Resilium Practice of the Year...

Claimant loses dispute over 'taped-together' car

16 November 2021

A driver whose car was damaged in a collision with a truck has lost a dispute over a claim declined because it was found that screws, tape and possibly glue were holding parts of the vehicle together before the accident...

Motorist who made 50 claims in five years loses claim dispute

12 November 2021

A man who lodged a claim for theft of his Alfa Romeo has lost a dispute after his insurer uncovered scores of undisclosed previous claims, including one declined four years earlier based on fraud...

Nib secures new travel underwriting partner to restart sales

12 November 2021

Nib Holdings will start selling travel insurance again in Australia and New Zealand later this month after securing an underwriting arrangement with new partner Pacific International Insurance, the business announced today...

icare to pay out $38 million after benefit errors

12 November 2021

NSW state insurer icare will pay $38 million in total to 53,000 injured workers who were underpaid benefits and has apologised for the calculation errors that have led to the remediation...

Tower introduces home flood-risk ratings

12 November 2021

Home insurance customers of New Zealand’s Tower will receive a low, medium or high-risk rating for their property, reflecting the potential risk of a flood and the estimated cost of replacing or repairing damage caused by flooding...

Emergency protocols to include insurance responders

11 November 2021

Emergency Management Australia protocol changes have classified insurer disaster personnel as emergency responders and introduced measures to hasten processing of applications to cross borders...