Daily
Actuaries drive home case for mitigation
01 March 2019
Only 40% of Australia’s annual natural peril costs of $11-$12 billion are insured, the Actuaries Institute says in a pre-Budget submission urging increased investment in mitigation...
NRMA flood, run-off shift sparks concern
28 February 2019
NRMA Insurance home cover changes risk increasing confusion over flooding and rainfall inundation and adding to problems for customers choosing between policies, a consumer group says…
Robot revolution ‘won’t erase insurance jobs’
28 February 2019
Artificial intelligence is set to transform the insurance industry, but will not lead to mass redundancies, according to an insurtech founder…
‘Do the right thing’: APRA takes aim at insurers
28 February 2019
Australian Prudential Regulation Authority (APRA) Deputy Chairman John Lonsdale has warned insurers that they shouldn’t wait to be “dragged into action” when concerns are raised about products or services…
Hayne fallout risks affordability, ICA warns
27 February 2019
The Hayne royal commission and other reforms will put the insurance industry under “enormous” pressure as it seeks to maintain affordable pricing, Insurance Council of Australia CEO Rob Whelan says…
Insurtech: ‘get in, or get blown away’
27 February 2019
Incumbent insurance companies must buy their way into insurtech, or risk getting blown away by a “technological typhoon”, an expert warns…
ASIC targets fraud ‘false positives’
27 February 2019
The Australian Securities and Investments Commission is targeting insurer handling of suspected fraud after finding a high level of cases where consumers with legitimate claims are investigated.
QBE flags interest in CommInsure
26 February 2019
QBE may place a bid for the Commonwealth Bank’s (CBA) general insurance arm if the lender decides to put the business up for sale…
Australia premiums powering ahead: Marsh
26 February 2019
Australian premium increases have driven a 16% jump in Pacific commercial pricing in the fourth quarter, supporting a pick-up in global gains, a Marsh market index shows…
‘Dishonest’ Sydney broker handed lifetime ban
26 February 2019
A former Sydney insurance broker caught engaging in “dishonest conduct” has been banned permanently from providing financial services and engaging in credit activities...
Royal commission action: years, not months
22 February 2019
The true impact on general insurance of the Hayne royal commission will not be clear “for several years”, one industry expert says...
Townsville flood cover ‘not readily available’
22 February 2019
Flood cover can be challenging for north Queensland businesses to obtain and brokers to place, the National Insurance Brokers Association says...
QBE joins driverless vehicle open-traffic trial
22 February 2019
QBE is providing compulsory third party cover for the first open-traffic driverless vehicle trial in Australia...
Royal commission: Treasurer demands ICA action
21 February 2019
Treasurer Josh Frydenberg has written to the Insurance Council of Australia asking for a prompt response outlining “when and how” members will implement Hayne royal commission recommendations...
Coastal communities brace for cyclone impact
21 February 2019
Parts of southeast Queensland and northern NSW have been placed on cyclone watch, as latest projections suggest Oma will approach the coast this weekend...
Premiums, acquisitions boost PSC revenues
21 February 2019
Higher premiums and acquisitions have driven operational revenue growth at PSC Insurance Group as the company expands in Australia and the UK...
Steadfast’s Kelly commits to commissions fight
20 February 2019
Steadfast CEO Robert Kelly will remain at the company’s helm until the end of 2022 as the broking industry gets ready to put its commissions payment case to a review sparked by the Hayne royal commission...
The next post-Hayne steps are critical, ICA warns
20 February 2019
Finalising the details of Hayne royal commission recommendations will be crucial next steps in responding to the inquiry, Insurance Council of Australia Chairman Richard Enthoven says...
Cyclone alert: weary Queenslanders eye Oma threat
20 February 2019
The Bureau of Meteorology is not ruling out issuing a cyclone watch as Category 2 storm Oma barrels towards the Queensland coast, and could even make landfall in the southern part of the state...
Townsville floods boost ALP’s reform focus
19 February 2019
The Australian Labor Party has drafted legislation to remove the insurance claims handling exemption as it presses the Government to extend Parliamentary sittings and quickly deal with Hayne royal commission recommendations...