Daily
Hayne royal commission a ‘tidal wave’ for insurers
30 August 2019
The Hayne royal commission has been likened to a “tidal wave” that struck the insurance industry, unleashing proposals that will impact on the industry in coming years, according to a leading insurance lawyer...
Done deal: PSC gains approval to buy Lloyd’s broker
30 August 2019
PSC Insurance Group has gained approval from the UK Financial Conduct Authority for its £42 million ($76.1 million) acquisition of London-based Lloyd’s broker Paragon International...
Poll finds general insurance is ‘most trusted’ financial service
30 August 2019
More consumers trust the general insurance industry than any other financial services industry, a survey says...
Aon denies former partner’s ‘blatant poaching’ claim
29 August 2019
Aon Australia has been accused by an association that terminated its insurance partnership of “blatantly and deceptively poaching” its members – a charge the giant broker has rejected...
Protesters demand AIG avoid Adani
29 August 2019
Demonstrators in Sydney today handed AIG a petition demanding the insurer publicly declare that it won’t insure the controversial Adani coalmine project in central Queensland...
IAG flood modelling impacts Coles Insurance
29 August 2019
Flood modelling revisions by IAG are causing subsidiary brand Coles Insurance to cease providing cover for some home policy customers in high-risk locations...
Dual fraudster had prior case of financial deception
28 August 2019
Former Dual Australia claims manager Josie Gonzalez pleaded guilty to gaining financial advantage by deception when she was just 21, decades before she and her husband Alvaro were found guilty of defrauding the underwriting agency of $17.4 million...
Bushfire outlook: ‘active season’ looms as dry, warm spell persists
28 August 2019
Unusually warm and dry conditions since the start of the year have worsened the outlook for the upcoming bushfire season, according to an update released today...
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...