'Must do more': Suncorp slams leaders on climate change, mitigation

07 December 2021

Climate change must be tackled by setting “ambitious targets” but Australia also needs to deal with today’s weather challenges, Suncorp CEO Steve Johnston says...

Couple's home destroyed by bushfire, but insurance had lapsed

07 December 2021

Suncorp denied a claim after a former customer’s home was destroyed by bushfire, because the premium had not been paid about 10 months previously...

High-net-worth agency Mansions calls time on commissions

03 December 2021

Steadfast-owned Mansions of Australia will axe commissions and move to a fee-for-service model from March next year...

Strata specialist QUS searches for new underwriter

03 December 2021

Strata insurance specialist QUS has informed broking partners that its underwriting arrangement with AIG Australia will end on December 31...

Draft laws outline mandatory cyclone reinsurance pool

03 December 2021

The Federal Government has released cyclone reinsurance pool draft legislation that shows it will be compulsory for insurers with eligible risks to participate in the scheme after a transition period...

Homeowner wins disclosure dispute despite damning report

03 December 2021

A first-time homebuyer has won a $62,938 payout in a claim dispute after thieves broke in and vandalised his insured property, setting fire to a number of rooms, after he was forced to move out when COVID struck...

Cyclone impacts set to worsen without action on home resilience: ICA

02 December 2021

Cyclones have generated claims costs of $23 billion since 1967 and impacts are set to worsen unless action is taken, given that homes are not resilient and risks are expected to rise with climate change, the Insurance Council of Australia says...

Service standards, legal obligations dominate broker code breaches

02 December 2021

Non-compliance in relation to service standards and legal obligations as set out in the Insurance Brokers Code of Practice dominated subscriber breaches last year, similar to the prior 12-month period...

Gallagher boosts Melbourne presence with Sound acquisition

02 December 2021

Gallagher today announced the acquisition of Melbourne-based Sound Insurance Services for an undisclosed sum, as it looks to grow in the Victorian capital...

ACCC approves ICA tool to process BI claims

02 December 2021

The Australian Competition and Consumer Commission has granted interim approval for insurers to use a web-based tool developed to help assess a possible influx of COVID-related business interruption claims following the conclusion of the second test case...

ASIC Black Summer claims review flags areas for improvement

01 December 2021

An Australian Securities and Investments Commission review of claims handling outcomes for consumers affected by the Black Summer bushfires has identified areas for improvement and good industry practices that it says should be widely adopted...

Landlord insurers to stop chasing tenants for accidental damage

01 December 2021

Residential landlord insurance providers will no longer pursue tenants for unintentional or accidental damage caused, responding to a months-long public pressure campaign by WEstjustice and Choice...

Marsh appoints Chief Claims Officer

01 December 2021

Marsh has appointed insurance lawyer Catherine Osborne to the newly created role of Chief Claims Officer, Pacific as it strengthens support for clients...

INsight podcast: La Nina and what it means for insurers

01 December 2021

The La Nina weather system and what it could mean for insurers is discussed in depth on the latest Insurance News podcast...

IAG faces shareholder class action over BI disclosure

30 November 2021

Law firm Quinn Emanuel Urquhart & Sullivan plans to file a shareholder class action against IAG for alleged breaches in updating the market about its exposure to business interruption claims resulting from the pandemic...

Westpac faces penalties over double-up policies

30 November 2021

The Australian Securities and Investments Commission has started civil penalty proceedings against Westpac in the Federal Court over alleged compliance failings that include distribution of duplicate general insurance policies...

Industry backs further $50 million flood mitigation boost

30 November 2021

The Insurance Council of Australia has backed the Federal Government allocating another $50 million to support priority flood mitigation infrastructure works across the country...

Goat hell: claimant refused to cooperate over 'unusual' claim

30 November 2021

A Suncorp motor policyholder who says his car was possibly damaged by his neighbour’s goats but refused multiple requests for more information to help the insurer with its investigation into his claim has lost his dispute before the Australian Financial Complaints Authority...

Greensill court action filed against IAG

26 November 2021

Greensill Bank’s administrator has filed Federal Court action against IAG seeking an order that the insurer is liable to cover a $US35 million claim...

QBE, NTI take out top Insurance Advisernet awards

26 November 2021

QBE has been named Insurer of the Year and NTI the Underwriting Agency of the Year in the Insurance Advisernet awards...