Daily
Unfair contracts bill won’t help consumers: ICA
28 August 2019
The Insurance Council of Australia says a draft bill to extend unfair contract terms to the sector will result in higher premiums and worsen problems in the northern Queensland and professional indemnity markets...
IBNA ‘wanted to combine with Austbrokers under one brand’
27 August 2019
The Insurance Brokers Network of Australia (IBNA) wanted to combine its operations with Austbrokers and use AIMS as their brand – but Austbrokers’ owner AUB “showed no inclination” to discuss the plan...
Allianz to refund $8 million over CCI policies
27 August 2019
Allianz Australia will refund more than $8 million to purchasers of consumer credit insurance (CCI) as the Australian Securities and Investments Commission cracks down on the mis-selling of poor-value and worthless products...
AFCA to name insurers involved in disputes
27 August 2019
The Australian Financial Complaints Authority will proceed with its plan to publish the names of insurers and other financial services providers involved in consumer disputes...
ANZIIF awards: Hollard celebrates double success
23 August 2019
Hollard Insurance took out two top gongs at the Australian Insurance Industry Awards as almost 800 industry professionals gathered for the annual event last night...
Surging Chinese market offers ‘common sense’ opportunity
23 August 2019
The Chinese insurance market is set for staggering growth over the next decade, as the country continues to open its doors to foreign investment...
River, storm flood study shows $130 billion NZ exposure
23 August 2019
New Zealand has $NZ135 billion of building assets at risk from river and rainfall flooding during severe weather events, according to a report described as a “first cut” at identifying the level of potential exposure...
Swiss Re Corporate Solutions reviews aviation business
22 August 2019
Swiss Re Corporate Solutions has confirmed it is reviewing the future of its Australian aviation business, as the company looks to improve profitability...
PSC revenue rises on organic growth, acquisitions
22 August 2019
PSC Insurance Group today reported underlying revenue increased 18% to $119 million in the last financial year, driven by robust organic growth and contributions from new acquisitions...
Sexual harassment reforms 'have implications for insurance'
22 August 2019
Australia’s Sex Discrimination Commissioner Kate Jenkins says the insurance industry has a role in encouraging employers to better manage issues, as action is stepped up to reform workplace practices that have failed complainants...
Hardening rates, acquisitions power Steadfast to 37% profit rise
21 August 2019
Steadfast today reported a 37% rise in after-tax net profit in the last financial year to $103.8 million, fuelled by the ongoing premiums upturn and earnings growth from acquisitions...
IAG fires back over fossil fuel investments
21 August 2019
Environmental campaign group Market Forces today lodged a resolution on behalf of more than 100 IAG shareholders, calling on the insurer to set a timetable to reduce its investment exposure to fossil fuels...
Suncorp revs up automated vehicles research
21 August 2019
Suncorp will participate in a research project testing automated vehicle safety after signing a partnership with the Queensland University of Technology...
AUB profit rises 4% after ‘challenging’ year
20 August 2019
AUB Group profit rose 4% to $48.4 million last financial year as its broking and underwriting businesses delivered stronger results. But a slump in the health and rehabilitation earnings and financial misconduct at a Canberra subsidiary eroded the gains...
Insurance arm boosts Johns Lyng’s profit
20 August 2019
Johns Lyng Group today reported a 25% rise in net profit for the year to June 30 to $13.4 million, aided by a strong showing from its insurance building and restoration services arm...
ICA backs building product comparison tool
20 August 2019
The Insurance Council of Australia is supporting the launch of an online building product comparison tool, as debate over how to solve the construction industry crisis continues...
Wickshire becomes first Australian-based Lloyd’s broker
16 August 2019
A Sydney brokerage has become the first Australian-based registered Lloyd’s broker as technological uptake at the London market makes it easier to transact business from global locations...
One more time: NZ to fund repairs for onsold quake homes
16 August 2019
The New Zealand Government will pay homeowners in Christchurch and surrounding areas who bought properties they later found contained botched repairs from the earthquakes and who are unable to claim on private insurance...
CTP overhaul: ministers seek national fix for automated car cover
16 August 2019
Australia’s top transport ministers want compulsory third party (CTP) insurance schemes across Australia to be rejigged to fill a gap in cover for automated vehicles...
‘Good pricing momentum’ lifts QBE’s half-year profit
15 August 2019
QBE today reported a 29% rise in first-half net profit to $US463 million ($683 million) as hardening prices and strong investment returns combined to offset challenging conditions in its North American crop business...