Daily
APRA fires capital requirement warning shot
23 May 2019
The Australian Prudential Regulation Authority is considering additional capital requirements for several institutions after uncovering “material weaknesses” in governance and management of non-financial risks such as culture and accountability...
Steadfast, icare return for third Mansfield Awards
23 May 2019
Steadfast and Insurance & Care NSW (icare) have agreed to sponsor the Mansfield Awards for the third consecutive year...
Ensurance reassures ASX over its financial state
22 May 2019
Insurance underwriting agency Ensurance says it “will be able to continue its operations” in response to an Australian Securities Exchange query over its financial state...
ASIC chief warns: 'first, do no harm'
22 May 2019
The financial services industry needs to embrace the concept of “first, do no harm”, Australian Securities and Investments Commission Chairman James Shipton says...
Australia exposed to Asia’s risky businesses
22 May 2019
Australia is one of the most resilient nations in the world but businesses are increasingly exposed to greater risks in Asia, according to a new report...
Crisis talks as bogus London lineslip revealed
21 May 2019
A London-based JLT Re broker has been sacked after a lineslip facility insuring Australian policyholders was exposed as a sham…
Hayne sparks demand for specialists, but salary war looms
21 May 2019
Insurance professionals with niche skills in areas such as handling complex claims, risk and compliance can command higher salaries as the industry gears up to comply with the reforms tabled by the Hayne royal commission, recruiter Hays says today…
Tower bounces back with first-half profit
21 May 2019
New Zealand’s third-largest general insurer Tower today announced a return to the black with a first-half net profit of $NZ11.9 million ($11.3 million) as ongoing efforts to revamp the business yield dividends…
Australia’s premium growth leads the world
17 May 2019
Commercial premium in the Pacific, along with the region’s largest market Australia, grew at the fastest pace in the world during the first quarter, Marsh says...
Suncorp’s pre-election warning: ‘involve insurers in reform, or pay the price’
17 May 2019
The incoming Federal Government, whichever party is elected, must consult with the insurance industry and take a balanced approach to royal commission reforms, or risk the chaos of insurer collapse, Suncorp says...
QBE ‘won’t replace’ departing executive
17 May 2019
QBE has announced the exit of Group COO David McMillan, who is leaving to become CEO of a UK insurer...
NSW reviews icare workers' comp scheme
16 May 2019
The NSW State Insurance Regulatory Authority has invited submissions to an independent review of workers’ compensation arrangements managed by Insurance and Care NSW (icare)...
QBE speeds property claims, appoints Sedgwick
16 May 2019
QBE has appointed Sedgwick as its sole principal loss adjusting partner as it introduces new technology that allows it to streamline property claims decision-making and cut costs...
NZ court orders broker to repay Suncorp
16 May 2019
A New Zealand insurance broker has lost his legal bid to have Suncorp-owned Asteron Life resume paying him income protection benefits...
Gallagher acquires SA brokerage
15 May 2019
Gallagher has announced the acquisition of Adelaide-based Donnellys Insurance Brokers, as it continues to expand its SME capability...
In plain sight: ASIC demands complaints transparency
15 May 2019
The Australian Securities and Investments Commission has launched consultation on new standards for the handling of customer complaints by financial firms...
Insurers 'failing to keep up with customers'
15 May 2019
Customers in Australia and globally want more comprehensive and dynamic insurance products but are not getting them because of a tepid response from insurers, a new report claims...
Signed and sealed: Nib takes control of QBE’s travel arm
14 May 2019
QBE has completed the disposal of its Australian travel insurance business to health insurer Nib Holdings, which has invested significantly to build up its presence in the market...
Insurtech Australia appoints first female chief
14 May 2019
Insurtech Australia today named founding member Rita Yates as its new CEO. She replaces Simon O’Dell, who becomes Chairman after slightly more than a year as CEO...
El Nino likelihood downgraded – for now, at least
14 May 2019
The Bureau of Meteorology today slashed the chances of an El Nino weather system developing this year, bringing potential relief to drought-hit regions...