Daily
CBN wins dispute over equipment inside burnt truck
16 July 2020
Community Broker Network has won a dispute lodged by a client who accused the authorised representative group of failing to properly arrange business cover for his truck as instructed, and claimed it was liable when a fire destroyed the vehicle and its contents...
Law firm clarifies COVID comments after ‘intense debate’
15 July 2020
Sparke Helmore has issued a statement to clarify comments suggesting some Australian insurance businesses will go to the wall as a result of the COVID-19 pandemic...
Insurtech incubator to launch pay-as-you-drive motor product
15 July 2020
Insurance incubator Insurtech Gateway Australia has announced plans to introduce a pay-as-you-drive motor product in partnership with a Silicon Valley start-up specialist...
Gym loses dispute with broker over cyber scam loss
15 July 2020
Coverforce has won a dispute with a gym franchisee who argued insurance policies arranged by the broker should have provided cover for an email scam...
Autumn reprieve after Black Summer, Climate Index shows
15 July 2020
The nation’s weather largely returned to typical levels in autumn after the Black Summer’s destructive bushfires and storms, but a clear long-term trend towards more frequent extreme weather remains, the latest Australian Actuaries Climate Index reveals...
Allianz add-on customers sue for 'hundreds of millions'
14 July 2020
Allianz has been hit with a class action from customers who say they have been sold poor value add-on motor insurance and want “hundreds of millions” in compensation from the insurer...
AFCA rulings tackle alcohol travel exclusions
14 July 2020
The Australian Financial Complaints Authority has made clear insurers must prove a claimant is under the influence if they are to rely on exclusions for drugs and alcohol contained in standard travel insurance policies...
SA bushfire inquiry boosts ICA reform case
14 July 2020
SA’s independent inquiry into last summer’s bushfires has added momentum to the Insurance Council of Australia’s national campaign to ditch taxes that act as a disincentive against taking out cover...
icare warns of virus impact on return-to-work metrics
14 July 2020
NSW state insurer icare says the COVID-19 pandemic and related business disruptions will make it more difficult to achieve targeted 26-week return-to-work timeframes for injured employees...
'Insurance businesses will collapse' under virus pressure
10 July 2020
“Significant numbers” of Australian insurance businesses are likely to go under as the combined impact of COVID-19 claims and a global recession hits home, a law firm has warned...
Senator queries industry's 'deafening silence' on emissions
10 July 2020
A Senate inquiry hearing today into the 2019/20 bushfire season has called out insurers’ “deafening silence” on the urgency of cutting carbon emission levels, forcing the industry to defend its climate action stance...
Pandemic exclusion upheld in travel claim dispute
10 July 2020
Zurich’s application of a pandemic exclusion in denying a claim from a man who decided not to proceed with a planned trip to China in February has been upheld by the Australian Financial Complaints Authority...
SMEs seek brokers' aid as sales plunge
10 July 2020
Many businesses in New Zealand are seeking insurance advice from brokers as revenues take a hit from the coronavirus pandemic and owners make widespread operational changes, a survey by Vero reveals...
Clients will be hurt: Melbourne brokers face lockdown 2.0
09 July 2020
The six-week reintroduction of stage three restrictions in Melbourne is testing the resilience of general insurance brokers and their clients, and will slow the nation’s fledgling economic recovery...
Motor policy wordings cause excess confusion
09 July 2020
A significant number of motor insurance disputes over the application of excesses have been lodged with the Australian Financial Complaints Authority, and consumer groups say variations in wordings are causing confusion...
Sam White sets up female-centric car insurance brand
09 July 2020
QBE is underwriting a new Australian direct car insurance offering aimed at women, founded by high-profile UK entrepreneur Sam White...
Senators set to learn about bushfire impact on insurers
09 July 2020
The Senate inquiry into the 2019/20 bushfire season will tomorrow focus on the insurance industry and its ability to cope with the increasing challenges posed by climate change...
Broker goes bust after insurer demands funds
08 July 2020
Construction-focused insurance group Qamvis has gone into liquidation after its insurer partner issued a demand for funds owed...
ESL Monitor accuses Allianz of providing dodgy data
08 July 2020
Former NSW Emergency Services Levy Monitor Allan Fels says a “major investigation” into the pricing practices of Allianz uncovered repeated inaccuracies in data provided by the insurer, which had to be resubmitted 13 times...
DXC investigating ransomware attack at Xchanging
08 July 2020
Xchanging, the insurance procurement arm of global IT services firm DXC Technology, has been hit by a ransomware attack...