Daily
ICA says draft product rule regulations fall short
13 September 2019
The Insurance Council of Australia will be pushing for further clarity in draft regulations for financial product design and distribution obligations as concerns over the controversial new regime remain...
Northern Australia: ICA rejects ‘quick solution’ to ease premium woes
13 September 2019
Disaster risk mitigation is the answer to the north’s long-running premium affordability problem, the Insurance Council of Australia says, as it warns against resorting to “quick solutions” that could backfire...
Cricket star Starc stands his ground after Lloyd’s denies claim
12 September 2019
Australian fast bowler Mitchell Starc insists he is owed $1.5 million under a total disablement policy issued by a Lloyd’s syndicate...
Latest Climate Index readings affirm extreme weather trend
12 September 2019
Last autumn produced the second-highest number of hot days for that season, according to the Actuaries Institute...
Munich Re offloads Australian long-tail lines
12 September 2019
A subsidiary of US-listed and Bermuda-based insurance group Enstar is set to acquire $228 million worth of long-tail insurance portfolios in Australia from Munich Re-owned entities...
Enforced four-day pause proposed for add-on sales
11 September 2019
The Federal Government has proposed an enforced four-day pause in the add-on insurance sales process as part of sweeping reforms to prevent consumers buying products they don’t need in high-pressure situations...
Treasury consults on new ASIC powers
11 September 2019
Treasury today released for public consultation its draft legislation to arm the Australian Securities and Investments Commission with more powers to supervise the financial services sector...
Out-of-season bushfires ‘fuelled by climate change’
11 September 2019
Out-of-season bushfires tearing through NSW and Queensland reveal the “inescapable truth” of the impact of climate change, IAG says...
You’re our top priority, new Suncorp chief tells brokers
10 September 2019
Brokers will play a crucial role in Suncorp’s future strategy, new Group CEO Steve Johnston says...
Funeral for Donna Walker set for Friday
10 September 2019
The funeral for highly respected Allianz executive Donna Walker will be held in Melbourne on Friday afternoon...
Bushfires update: losses climb past $13 million as claims pour in
10 September 2019
Losses from the NSW and Queensland bushfires have risen to about $13.5 million and are set to increase in coming days as more claims are lodged...
Suncorp drives home its case against state intervention
06 September 2019
Suncorp has hammered home the case against Government intervention in the northern Queensland insurance market and says overseas examples aren’t a template for local solutions...
Administrator sets deadline for Sportscover owner
06 September 2019
The future of Wild Goose Holdings, the owner of Sportscover Australia, will be decided at the next reconvened second meeting of creditors on October 29...
Gear change: driverless cars spark new directions for insurance
06 September 2019
Demand for “on-the-go” motor cover is set to rise as driverless cars become mainstream, according to a global law firm which commissioned a study into how autonomous vehicles could change the transport landscape, including in Australia...
Tragic death of highly regarded Allianz manager
05 September 2019
Donna Walker, Allianz Australia’s Chief Technical Officer, has died suddenly while holidaying in Africa...
Victorian councils mount another JLT class action
05 September 2019
JLT is facing a second class action brought by local councils, with law firm Quinn Emanuel Urquhart & Sullivan filing a writ in the Victorian Supreme Court after already launching a similar case in NSW...
Pulse check: reforms could impact on industry earnings
05 September 2019
The raft of reforms being planned for the industry could have earnings implications for general insurance providers, actuaries Taylor Fry say in a report...
Suncorp may put ACM Parts up for sale
04 September 2019
Suncorp is reportedly considering the future of its ACM automotive parts business as it continues to review its operations and sharpens its insurance and banking focus...
Destructive Dorian: insurers on standby for the worst
04 September 2019
Hurricane Dorian is now lashing the Florida coast after devastating the Bahamas and is expected to inflict “significant” losses on the insurance industry...
S&P suggests reinsurers might need a new playbook
04 September 2019
S&P Global Ratings has questioned if reinsurers are “complacent in their centuries-old industry” as they battle the commoditisation of their business and the rise of alternative capital that is “nibbling” at their margins...