IAG extends coronavirus support measures
04 August 2020
IAG has announced the extension of its COVID-19 customer support measures until the end of the year...
Daily
'Stop stirring up trouble': politicians urged to keep out of BI dispute
31 July 2020
Insurance industry sources have slammed inflammatory comments made by a senior Labor politician who accused insurers of leaving SMEs “in the lurch” by denying coronavirus-related business interruption claims...
Onus on insurers to prove claimants gave fraudulent details: AFCA
31 July 2020
Insurers must provide proof that claimants have made fraudulent misrepresentation or non-disclosure when a claim is denied on the basis that false information has been deliberately provided...
Industry targeted by malicious, criminal hackers
31 July 2020
The insurance industry has the fourth highest number of data breaches in the six months to June, emerging for the first time in the top-five list of sectors with the most cases reported to the Office of the Australian Information Commissioner...
Insurtech collaborations on the rise: report
31 July 2020
Insurers are stepping up insurtech collaborations but only half the sector believes enough is being done to drive digital innovation across the industry through partnerships, a report has found...
Historical blunder? ICA and AFCA agree to BI test case
30 July 2020
The Insurance Council of Australia has agreed to file a business interruption test case seeking a ruling on outdated policy wordings that have been described as potentially “one of the biggest drafting blunders in history”...
Andrew Mair to leave Suncorp as teams merge
30 July 2020
Suncorp has announced the merger of its Commercial and Intermediary Distribution teams as the implications of a new operating model revealed earlier this month work their way through the business...
Swiss Re names new Australia head, moves regional role to Sydney
30 July 2020
Swiss Re announced today that Sharon Ooi, who is presently Head of Property and Casualty Underwriting APAC based in Singapore, will start in September as the Sydney-based Head of its Australia and New Zealand operations...
ICA appoints Sue Houghton President in board changes
30 July 2020
The Insurance Council of Australia has appointed Westpac GM Insurance Sue Houghton as President after she took over the role on an interim basis at the start of the month...
'Staggering 600%': employers back reform to curb soaring D&O premiums
29 July 2020
Peak employer body Ai Group has today pushed for stronger class action laws to address the soaring cost of directors’ and officers’ insurance, which in some extreme cases has increased by 600% based on Marsh estimates...
Advisers sue AMP Financial Planning over terms
29 July 2020
A class action has been filed in the Federal Court against AMP Financial Planning after it terminated the business of hundreds of advisers and almost halved acquisition terms...
AFCA finds against Allianz in add-on cases
29 July 2020
The Australian Financial Complaints Authority has made determinations against Allianz following two complaints about add-on insurance sold through car dealerships, highlighting issues around the use of medical records and high-pressure sales tactics...
Researchers create first national snapshot of disaster resilience
29 July 2020
A new measure of disaster resilience illustrates how capacity to withstand natural disasters differs between Australian communities, helping insurers and other stakeholders tackle bushfires, floods, storms and earthquakes...
Small business ombudsman calls insurance inquiry
28 July 2020
The Australian Small Business and Family Enterprise Ombudsman has called an inquiry into insurance practices affecting SMEs after receiving complaints about soaring premiums, difficulty obtaining cover and poor behaviour...
icare rejects 'misleading, inaccurate' criticism
28 July 2020
NSW state insurer icare has rejected "misleading and inaccurate" claims about the performance of its workers’ compensation scheme and says it has worked tirelessly since it started five years ago to transform a broken system...
Industry holds ground at class actions inquiry
28 July 2020
The insurance industry has defended its push for more oversight of litigation funders after key players appeared before a parliamentary inquiry into the class action system...
IAG welcomes 'critical' bushfire research funding
28 July 2020
IAG MD and CEO Peter Harmer says more than $88 million in Government funding for “critical research” into bushfires and natural hazards will help the nation take necessary action to make communities safer...
IAG braces for sharp earnings fall as perils hit margins
24 July 2020
IAG has flagged insurance margins for the 2019/20 financial year will fall short of its 12.5-14.5% guidance, as earnings take a huge hit from adverse natural perils, prior period reserving and credit spread factors...
Councils return to mutual insurer as market hardens
24 July 2020
The Municipal Association of Victoria says all local governments in the state are participating in its mutual insurance scheme this financial year, with some returning after finding it tough to acquire cover in the wider market...
Mansfield Awards winners hail teams' 'tireless work'
24 July 2020
Companies recognised by the Mansfield Awards for claims excellence have paid tribute to their staff who delivered during a challenging period dominated by natural catastrophes and the COVID-19 pandemic...