Daily
Support builds for ditching NZ fire levy
30 June 2020
Pressure has increased for Fire and Emergency New Zealand to be at least partly funded through taxation, as responses to a Government review largely support ending an insurance levy that allows “free-riding”...
Former brokerage MD allegedly spent funds on homes, travel
26 June 2020
Austbrokers Canberra has alleged in court documents that its former MD fraudulently used funds for home renovations, travel and repairs to luxury cars...
Industry swings into action for family violence provision
26 June 2020
Suncorp and Hollard have put in place mandatory measures to support customers affected by family violence, ahead of the July 1 deadline set for signatories to the new General Insurance Code of Practice...
Business interruption concerns flagged at bushfire royal commission
26 June 2020
A Victorian council chief has highlighted the limitations of business interruption insurance at the Royal Commission into National Natural Disaster Arrangements...
Technical glitch proves costly as claimant loses travel dispute
26 June 2020
A complainant whose online purchase of a travel insurance policy failed to go through because of a technical glitch on the insurer’s website has lost her dispute before the Australian Financial Complaints Authority...
Regional pubs facing insurance availability issues: MGA
25 June 2020
Country pubs are among properties in regional areas that are struggling to obtain cover at this year’s renewals as insurers reduce their risk appetite following last summer’s bushfires, MGA Insurance Brokers MD Paul George says...
Zurich takes up capacity for NM Insurance
25 June 2020
Underwriting agency NM Insurance today announced a new deal for Zurich to provide capacity for its boating and recreational product portfolio...
AUB lowers profit forecast in new guidance
25 June 2020
AUB Group has lowered its underlying net profit growth forecast for this financial year to 12-14% after withdrawing previous guidance at the end of March due to the uncertainty caused by the COVID-19 pandemic...
Allianz names new leader for underwriting agencies
25 June 2020
Allianz has promoted Jenny Bax to the newly created role of GM Underwriting Agencies to lead the unit’s strategic direction as governance and regulation rapidly evolves...
Bushfire royal commission told of underinsurance issues
24 June 2020
A NSW council executive has told the Royal Commission into National Natural Disaster Arrangements that residents of her bushfire-ravaged region cannot afford to insure their properties...
'Impractical' for brokers to explain every exclusion: AFCA
24 June 2020
Exclusions don't always need to be explained to customers of insurance intermediaries if they are “inherently obvious” or almost always included in certain types of cover, according to an Australian Financial Complaints Authority document...
PI pain set to worsen as insurers harden risk appetite
24 June 2020
Rates for professional indemnity insurance and other key construction product lines are set to increase further in the coming months, Willis Towers Watson says in an Australia update, as insurers’ risk appetite for the problematic industry continues to shrink...
Chance doubles for rain-causing La Nina
24 June 2020
Australia has double the normal chance of a La Nina weather pattern forming this year, increasing the risk of heavy rainfall, the Bureau of Meteorology says in its latest update...
QBE 'should move for banks' insurance operations'
23 June 2020
QBE should consider bidding for the general insurance arms of Westpac or Commonwealth Bank of Australia to bulk up its presence in the profitable home and personal motor markets, industry analysts say...
Could COVID kill the insurance call centre?
23 June 2020
The coronavirus pandemic will lead to the death of insurer call centres as we know them, according to a US-based global technology firm...
Chubb gains costs order from failed brokerage
23 June 2020
Chubb has gained a Federal Court costs order in a dispute over a theft, fraud and dishonesty claim related to failed brokerage All Class...
AMP Life sale clears final hurdle
23 June 2020
AMP is set to exit the life insurance business at the end of this month as planned, after clearing a final regulatory hurdle with the New Zealand central bank over the $3 billion sale to Resolution Life...
No rush: insurers start small with office returns
19 June 2020
Australia’s major insurers have begun returning to the workplace, but they’re taking it slow and following official guidance every step of the way...
Court rules on credit hire car claims
19 June 2020
The NSW Court of Appeal has handed down decisions in four cases regarding the assessment of damages concerning credit hire vehicles...
Myer, David Jones hit by QBE trade credit shift
19 June 2020
Department store chains Myer and David Jones have been hit by QBE’s decision to wind back trade credit cover for the stores’ suppliers from the middle of next month...