Daily
‘Huge step’: Victoria repairs crumbling builders’ warranty scheme
24 October 2024
Victoria’s much-criticised builders’ warranty insurance will be reformed to provide greater “first resort” protection for consumers...
‘Positive developments’ as commercial rates drop further
24 October 2024
Commercial insurance rates in the Australia-dominated Pacific region have continued a downward trend, dropping by 6% in the third quarter, according to Marsh’s premium index...
Flood inquiry action can drive down premiums, MP says
24 October 2024
Implementing the parliamentary flood inquiry’s recommendations would put downward pressure on premiums despite insurers having to “lean in a bit more” in some areas, committee chairman Daniel Mulino says...
AFCA boss ‘disappointed’ as insurers slow to improve
24 October 2024
Australian Financial Complaints Authority CEO and chief ombudsman David Locke says many insurers are yet to make significant progress addressing claims handling delays, and a lack of action in the sector is “disappointing”...
NIBA reveals national award winners
23 October 2024
Bell Partners Insurance MD Matthew Bates has won the broker of the year award and AEI Insurance Broking Group account manager Emily-Rose Srbinovska has been crowned the nation’s top young broker...
ASIC takes QBE to court over discount failures
23 October 2024
The Australian Securities and Investments Commission has launched Federal Court action against QBE over alleged pricing discount failures that may have affected more than 500,000 customers...
Hidden fuel tank ignites row over home coverage
23 October 2024
A homeowner has lost a claim dispute over leakage from an underground petroleum tank after the complaints authority found the storage facility was not covered...
INsight podcast: flood report awash with recommendations
23 October 2024
The parliamentary flood inquiry's raft of recommendations is the first issue discussed on the latest episode of the Insurance News podcast...
‘Not convinced’: minister flags flood pool dangers
22 October 2024
Financial Services Minister Stephen Jones says he remains unconvinced about a flood reinsurance pool but the government will consider the issue, as recommended in the flood inquiry final report...
Suncorp chief defends pricing, outlines inquiry response
22 October 2024
Suncorp is “well advanced” in adopting many recommendations from the parliamentary floods inquiry, CEO Steve Johnston told this morning’s annual general meeting, where insurance affordability challenges weighed heavily...
AFCA sides with traveller after illness ends holiday
22 October 2024
A traveller who fell ill a few days into a planned year-long holiday has won his bid to have medical expenses and air ambulance costs covered after his insurer argued his pre-existing mesothelioma was the cause of the sickness...
Residents fear cities unprepared for climate dangers
22 October 2024
Cities around the world are considered underprepared for climate risks, according to a Zurich and Economist Impact report that includes Sydney as a case study...
ICA to review flood inquiry findings
18 October 2024
The Insurance Council of Australia says it will review the parliamentary flood inquiry report released today, while consumer groups and counsellors have called for the industry to accept the recommendations...
Lobby maintains reform pressure as strata fees in news again
18 October 2024
The Australian Consumers Insurance Lobby has again pushed for reforms after the ABC yesterday reported more details about the fee practices of Netstrata and its wholly owned broker, Strata Insurance Services...
Regulator flags further crackdowns as CTP fraudster jailed
18 October 2024
NSW’s State Insurance Regulatory Authority has prosecuted a compulsory third party claimant who lied about being unable to work after a vehicle crash...
Building or contents? AC burnout sparks excess row
18 October 2024
A homeowner has lost a bid to have his excess reduced by more than $4000 after claiming for a damaged air-conditioning unit...
‘Defining’ months ahead as review findings loom
17 October 2024
Review outcomes and rising premiums have set up a “defining time” for the industry, which must ensure it has a seat at the table as governments consider reforms, Suncorp CEO Steve Johnston told the Insurance Council of Australia annual conference...
Time for closure on 2022 flood claims, ASIC says
17 October 2024
The Australian Securities and Investments Commission has told insurers it is time to resolve remaining claims from the 2022 floods catastrophe, with the regulator concerned about the numbers still outstanding...
Smoke without fire? Landlords win tenant damage dispute
17 October 2024
Homeowners whose property was damaged by tenants will receive more than $48,000 to cover fire-related losses after the dispute authority ruled that a smoke exclusion could not be relied upon....
‘Crash injuries’ pre-dated bike fall, court rules
17 October 2024
A woman’s bid for damages stemming from a road accident has been rejected after a judge found her injuries and mental illness pre-dated the crash...