Daily
Queensland hailstorm losses reach $195 million
03 November 2020
Insured losses from Queensland hailstorms have climbed to an estimated $195 million and the figure is expected to continue rising over coming weeks as residents and businesses assess damage and file claims...
icare criticised for lack of compliance on contracts
03 November 2020
NSW state insurer icare has failed to comply with transparency requirements over contracts for a number of years, a new report from the NSW Information and Privacy Commission has found...
UK Supreme Court to hear BI appeal this month
03 November 2020
The UK Supreme Court will this month hear appeals brought by insurers and the regulator over a business interruption test case decision handed down in September...
Claimant who 'changed mind' over trip wins dispute
03 November 2020
A 72-year-old woman who cancelled a family trip to South Australia due to health concerns over the coronavirus outbreak and later lodged an unsuccessful claim with AIG for travel losses has won in her complaint filed against the insurer...
No end in sight to hard market, broker CEOs warn
30 October 2020
Lack of capacity and high prices are set to remain key issues for brokers, with no end in sight as difficult circumstances persist and discussions take place remotely, company CEOs told the National Insurance Brokers Association convention today...
Allianz pays $10 million to customers hit by travel insurance 'failings'
30 October 2020
The Australian Securities and Investments Commission says it has secured $10 million in remediation from Allianz Australia and subsidiary AWP Australia for travel insurance that was “potentially mis-sold” to 31,500 customers...
Insurers urge politicians to adopt bushfire royal commission advice
30 October 2020
Australia’s insurers have welcomed strong themes of resilience, mitigation and disaster planning running throughout the long-awaited final report of the bushfire royal commission...
'Insurers aren’t brokers': underinsured policyholder told cover onus on her
30 October 2020
A complainant whose underinsured business was destroyed by bushfire last summer was told in a claim dispute ruling that she had many years to seek alternative insurance cover better suited to her needs...
Insurer profitability 'worst for 20 years': Finity
29 October 2020
Australian insurers’ profitability in the last financial year was the worst for two decades, a new report has found...
ASIC raises concerns over broker code report
29 October 2020
Australian Securities and Investments Commission Senior Executive Leader – Insurers Emma Curtis says the recent Insurance Brokers Code Compliance Committee report has raised “some serious concerns”...
Suncorp launches new claims model, announces key appointments
29 October 2020
Suncorp has made a number of key appointments in its claims and operations team following the restructuring of the insurance business into two divisions...
ASIC launches action against funeral insurer that targeted Indigenous customers
29 October 2020
The Australian Securities and Investments Commission says it has taken legal action against Youpla Group and its subsidiary ACBF Funeral Plans, accusing them of using false and misleading tactics to sell funeral covers to the Indigenous community...
Broker CEOs face back-to-office challenges
28 October 2020
Transitioning back to offices and adapting to a new COVID-normal may be as great a challenge as the pivot to home working, top executives have highlighted at the National Insurance Brokers Association virtual convention...
Service for Gallagher’s Tania O’Day will be live-streamed
28 October 2020
A service will take place tomorrow for Melbourne-based Gallagher National Strategic Partnerships Manager Tania O’Day, who died last week following a long illness...
Strong Q1 prompts Steadfast to raise earnings forecast
28 October 2020
Steadfast Group has upped its earnings guidance as the business made a “tremendous start” to the new financial year, underpinned by hardening rates and volume growth...
Insurer must pay burglary claim despite property sale contract
28 October 2020
A dispute hearing has determined Westpac General Insurance was wrong to deny a home and contents claim payout of almost $32,000 after thieves ransacked the property and ripped out newly fitted appliances...
Berkley, GT Insurance win NIBA awards
27 October 2020
Berkley Insurance Australia has won the National Insurance Brokers Association General Insurance Company of the Year award, while transport specialist GT Insurance has been named Underwriting Agency of the Year...
Tourism sector worst hit by hard market, submissions reveal
27 October 2020
Tourism businesses including caravan parks, hotels and boat operators have issued stark warnings on insurance availability during the current hard market in submissions to an inquiry...
NIBA backs diploma requirement in ASIC submission
27 October 2020
The National Insurance Brokers Association has proposed to the Australian Securities and Investments Commission that industry qualification standards should be changed to include a diploma requirement...
Insurers score poorly in customer service survey
27 October 2020
Insurers in Australia have their work cut out when it comes to online customer engagement, according to a recent survey...