Daily
Underwriters 'will maintain a tough line until 2021'
22 January 2020
Rising premiums and reduced capacity from underwriters for some business risks are set to remain features of the insurance market until well into next year, Honan Insurance Group says...
Hailstorm losses top $300 million, catastrophe declared
21 January 2020
Hailstorms that dented cars and smashed windows in Canberra, Sydney and Melbourne over the past two days have caused losses estimated at $320 million...
AIG’s exit list grows as Asia Pacific CEO walks
21 January 2020
AIG’s Asia Pacific CEO Sachin Shah has left the company “to pursue other opportunities”, one year after he took on the position in January 2019...
Willis Re names new local CEO
21 January 2020
Reinsurance broker Willis Re today announced a reshuffle at the top of its Australian business...
Bushfire response: insurers welcome government clean-up pledge
20 January 2020
The NSW and Victorian governments have committed to fund debris removal for all bushfire-affected properties...
Acquisitions and appointments: company news wrap-up
20 January 2020
The industry is whirring back into life after the summer break, with acquisitions, appointments and launches announced in recent days...
Victoria will expand its PI cladding exemption
20 January 2020
Victoria will next month allow all classes of engineers and other building professionals to temporarily operate with cladding exemptions on their professional indemnity policies...
ACCC snubs reinsurance pool in latest northern Australia report
20 December 2019
The Australian Competition and Consumer Commission says a reinsurance pool isn’t the answer to soaring premiums in the north, but the Federal Government could push on regardless...
Bushfire losses still rising as NSW prepares for worse
20 December 2019
Insured losses from the NSW and Queensland bushfire catastrophe have run up to at least $182.6 million from 2306 claims lodged, the Insurance Council of Australia says today...
Sydney hailstorm cost hits $1.36 billion at anniversary
20 December 2019
The cost of the catastrophic hailstorm which hit Sydney and regional NSW a year ago today has climbed to $1.36 billion as claims continue to reach insurers...
Victoria cladding talks may resolve PI gridlock
19 December 2019
Professional indemnity insurance cover without a cladding exclusion may again be offered to building practitioners in Victoria pending the outcome of talks between the insurance industry and the State Government...
Monitor seeks views on ESL collection 'nightmare'
19 December 2019
NSW Emergency Services Levy Monitor Allan Fels has launched consultation with “key stakeholders” on the way the controversial levy is calculated and collected...
Chubb launches online trading platform for cyber
19 December 2019
Chubb‘s new Marketplace online trading platform has launched in Australia with cyber risk protection for small and medium enterprises...
ATO forces insurers to reveal high-net-worth clients' assets
18 December 2019
The Australian Taxation Office says it will ask for five years’ policy information from more than 30 insurance companies about taxpayers who own high-value assets...
US crop claims dent QBE's profit forecast
18 December 2019
US crop insurance claims caused by unusual cold and wet weather will cause QBE’s underwriting profitability to fall short of expectations this year...
Think tank wants fossil fuel levy to pay for climate disasters
18 December 2019
The Australia Institute has called for a special levy on coal and other fossil fuel companies to help pay for the rising cost of natural disasters, which climate scientists have warned will become more frequent and severe as global warming accelerates...
Suncorp must pay $1 million to traumatised police officer after losing appeal
17 December 2019
Suncorp has been ordered to pay more than $1 million in damages to a former police officer who attended a road accident where a trapped driver was dying from horrific injuries...
Zurich enters underwriting agreement with AFA Insurance
17 December 2019
Zurich has entered into an agreement with underwriting agency AFA Insurance to act as security for its accident and health policies from the start of next month...
NZ regulator mounts civil action against CBL and directors
17 December 2019
New Zealand’s Financial Markets Authority announced today it has started legal action against failed insurer CBL Corporation and its former directors for alleged corporate misconduct...
Resilium managers 'entitled to sue Coverforce'
13 December 2019
Managers who led the buyout of the Resilium authorised representative firm from Suncorp earlier this year have been told by the NSW Supreme Court they would be entitled to seek damages against Coverforce for deceptive conduct over the deal...