Daily
IAG cuts its outlook again after weekend weather disaster
12 February 2020
IAG has lowered its full-year financial outlook for the second time in three weeks after last weekend’s torrential rainfall and flooding continued “an exceptionally harsh” natural perils season...
Suncorp CEO demands more government action on mitigation
11 February 2020
Suncorp CEO Steve Johnston has criticised government inaction on disaster resilience, but says this season’s tragic bushfires provide an opportunity to put things right...
Flood and storm losses surge to $100 million
11 February 2020
Losses from severe storms and flooding that hit NSW and Queensland at the weekend have doubled to $100 million, the Insurance Council of Australia says...
Insurer wins in travel dispute over pregnancy exclusion
11 February 2020
The Australian Financial Complaints Authority has ruled Zurich did not act unethically when it declined a travel claim from a couple who cancelled a trip after the female partner became pregnant...
Chubb caught out by 'literal reading' of travel policy
07 February 2020
The Australian Financial Complaints Authority has ordered Chubb to pay a travel insurance claim triggered by the death of an 83-year-old, despite having a clause excluding deaths of relatives over the age of 80...
Suncorp's Matteson joins Willis Towers Watson underwriting agency
07 February 2020
Willis Towers Watson announced today Adam Matteson has been appointed as Head of Richard Oliver Underwriting Managers, a Melbourne-based business it acquired in the mid-1990s...
ProRisk secures capacity deal with Swiss Re
07 February 2020
Professional Risk Underwriting (ProRisk) has switched to Swiss Re Corporate Solutions from Lloyd’s for capacity in financial lines, casualty, property, and accident and health insurance...
Blazing row: insurers reject accusations of 'loose' policy wordings
06 February 2020
Accusations from consumer group Choice that insurers use “loose and complicated” wordings to define fire cover in home policies have been swiftly rejected by the industry...
Major claims disputes increasing, says law firm
06 February 2020
Disputes over major claims are snowballing as the insurance market continues to harden, law firm Herbert Smith Freehills says...
Hot, dry, windy spring set scene for fire crisis
06 February 2020
Spring was Australia’s seventh consecutive season of extreme dryness and laid the foundation for this summer’s tragic bushfire crisis, the latest Australian Actuaries Climate Index reveals...
IAG makes changes at the top to ramp up digital focus
05 February 2020
IAG announced today it is setting up a new division focused on strategy and innovation as the country’s leading personal lines insurer works to build a technological edge...
AMP ordered to pay $5 million fine for 'rewriting' insurance
05 February 2020
The Federal Court today fined AMP more than $5 million after financial planners engaged in insurance “rewriting” to boost commissions...
Former Wallabies captain joins Gallagher team
05 February 2020
Veteran broker and former Wallabies rugby union captain Tony Shaw has left Marsh and joined the corporate broking team at Gallagher in Brisbane as Executive Director...
Catastrophes derailing insurers’ profitability
04 February 2020
Expectations of improved profitability for Australian insurance companies this year are likely to be dashed due to the bushfire and hailstorm catastrophes, the JP Morgan and Taylor Fry General Insurance Barometer says...
Driver who lied about accident appeals over his declined claim
04 February 2020
A driver who is alleged to have bought an insurance policy shortly after being involved in a collision complained to the Australian Financial Complaints Authority after his claim was denied...
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...