Daily
Fires, floods, hail: now a cyclone looms
04 February 2020
A tropical low presently tracking southwest of Kununurra in WA could develop into a severe cyclone by this weekend based on current projections...
Brokers warned to ‘wean themselves off’ contingent payments
31 January 2020
General insurance brokers must act now to cut out certain forms of remuneration, Steadfast has warned...
Insurers working through final Townsville claims
31 January 2020
A year after Townsville was inundated in a massive flood, the Insurance Council of Australia will tomorrow host consultations with policyholders who still have unsettled claims...
New set of reforms revealed a year after Hayne
31 January 2020
Treasury has unveiled two dozen financial services legislation reforms, a year after Commissioner Kenneth Hayne published his final report and scores of recommendations for improvement...
Exclusive: Insurance Council CEO set to step down
30 January 2020
Insurance Council of Australia CEO Rob Whelan will step down after almost a decade leading the industry body...
PSC buys Australian Unity’s broking business
30 January 2020
PSC Insurance Group announced today it will acquire the general insurance broking business of Australian Unity for $1.56 million...
Suncorp takes a $300 million hit from January disasters
30 January 2020
Suncorp says costs from this month’s fire, hailstorm and rain disasters are expected to be capped at $300 million following reinsurance recoveries, amid an “unprecedented” start to the summer catastrophe season...
Coronavirus outbreak: exclusions could rule out cover
29 January 2020
The local insurance industry has warned that “broad exclusions normally apply” to pandemics and epidemics such as the current coronavirus outbreak...
Another leadership team executive quits IAG
29 January 2020
IAG Group Executive Strategy and Corporate Development David Harrington “has decided to leave” the company at the end of March, the insurer says today in a statement...
Unsustainable ‘honeymoon’ discounting under fire
29 January 2020
Life insurer ClearView has taken aim at its rivals for cutting premiums to unprofitable rates in the race to maintain customer numbers...
AUB announces 'good progress' on performance
28 January 2020
AUB has reaffirmed its full-year earnings guidance, with the business on track to deliver “toward the top” of its forecast of an 8-10% rise in adjusted after-tax net profit...
Suncorp must pay uninsured driver after collision with ambulance
28 January 2020
An uninsured driver whose vehicle was in collision with an ambulance will receive up to $15,000 after the Australian Financial Complaints Authority found in his favour...
Bushfires may boost reinsurance rates: AM Best
28 January 2020
Bushfires this summer could lead to increased reinsurance rates at renewals while underwriters will also be looking at their approach to managing exposure to the risk in future, AM Best says...
Bushfire, hailstorm losses top $2 billion
24 January 2020
Insured losses from bushfires and hailstorms since November have reached $2.16 billion as more claims from the events are lodged...
Genworth chooses KPMG partner as its next CEO
24 January 2020
Genworth Mortgage Insurance Australia has appointed KPMG Partner Pauline Blight-Johnston as MD and CEO...
IAG cuts earnings outlook as catastrophe costs mount
24 January 2020
IAG today lowered its earnings guidance for this financial year to account partly for the impact of this month’s hailstorm that severely damaged cars and homes in Canberra, Sydney and Melbourne...
Climate concern jumps up worry list
23 January 2020
Climate change and increasing weather volatility has surged into third place in an annual Allianz Global Corporate and Specialty survey of business risks facing the Australian insurance industry...
Uber driver loses dispute over claim
23 January 2020
An Uber driver whose insurer knocked back a claim because he hadn’t told them he was working for the rideshare company has had his complaint rejected by the Australian Financial Complaints Authority...
BEAR trap: insurers face tough conduct regime
23 January 2020
Treasury has released a consultation paper on plans to extend the Banking Executive Accountability Regime (BEAR) to insurers and other regulated financial entities as recommended by the Hayne royal commission...
Brokers flag uncertainty over bushfire business interruption cover
22 January 2020
Brokers are calling for a review of business interruption policy wordings following the devastating bushfires that ripped through tourist regions in NSW, Victoria, SA and Queensland...