Daily
Warning on AI limitations as industry tech take-up accelerates
22 January 2025
The industry is on a digital transformation drive, investing in artificial intelligence and other tech to lift efficiency and comply with evolving regulations, global researcher Information Services Group says in a new report...
Sign up for Outlook 2025 and access exclusive market report
22 January 2025
Attendees at the upcoming Insurance News Outlook 2025 conference will gain access to an exclusive report outlining the latest trends as the market continues to move into a softening phase...
Disaster Ready Fund launches third round of grants
22 January 2025
The federal government has opened the third round of its Disaster Ready Fund, which commits $200 million a year to mitigation projects, matched by states and territories...
Insurer ordered to say sorry over policy cancellation
22 January 2025
Auto & General has been told to apologise and pay $2000 compensation to a property owner after it inadequately investigated his storm damage claim before initially denying cover and cancelling his policy...
Cyclone turns away from Pilbara after record rainfall
21 January 2025
Cyclone Sean was today tracking away from the WA coastline after reaching category 4 intensity and bringing record rainfall to Karratha...
Landslides ‘rarely covered’ unless triggered by storms
21 January 2025
A claims expert says landslides are not usually covered by Australian home policies unless they are caused by storms, as authorities continue to investigate a significant incident on Victoria’s Mornington Peninsula that destroyed a $2 million property...
‘Fear and confusion’ cloud cyber decisions
21 January 2025
About 38% of Australian and New Zealand businesses have trouble figuring out their cyber insurance needs, according to a survey by IT security specialist Arctic Wolf...
AFCA backs travel insurer in dispute over cancer death
21 January 2025
A travel policyholder who had to cut short a holiday to be with his dying sister-in-law has lost his bid for a payout...
Australian LA-style bushfire ‘inevitable’
20 January 2025
A Los Angeles-style fire impacting a major Australian city is inevitable given increasing risk factors and the nation needs to be prepared, Natural Hazards Research Australia CEO Andrew Gissing says...
More than 11,000 claims lodged after NSW, ACT storms
20 January 2025
The Insurance Council of Australia says 11,366 claims have been lodged in relation to wild weather that swept across NSW and the ACT...
Mustang prang caused by reckless speeding, not kangaroo
20 January 2025
The owner of a 2022 Ford Mustang GT who said it was damaged while avoiding a kangaroo will not be covered after the vehicle was found to have hit speeds of almost 200km/h...
Gow-Gates appoints Howard Kaye to lead key division
20 January 2025
Brokerage Gow-Gates has appointed Howard Kaye, who previously held senior roles at Aon, to lead its renamed corporate and risk management division...
‘Needs to be addressed’: Dutton demands action on insurability
17 January 2025
Coalition leader Peter Dutton has raised concerns about “uninsurable risks” on a visit to the Victorian tourist town of Halls Gap, which was hit by bushfires and associated disruption over the Christmas period...
LA fire payouts may hit $48 billion: Gallagher Re
17 January 2025
Los Angeles wildfire insured losses are expected to range from $US20-$US$30 billion ($32-$48 billion), with reinsurers picking up part of the tab, Gallagher Re says...
High-end strata ‘faces capacity challenge’
17 January 2025
Capacity problems are affecting the higher end of the strata market despite rising premium rates over the past couple of years that have improved the outlook for insurers, a Brisbane broker says...
Insurer liable for water damage as AFCA rejects seepage exclusion
17 January 2025
A claimant whose home was inundated during heavy rain will be covered for his loss after the complaints authority rejected his insurer’s “broad interpretation” of an underground seepage exclusion...
Strong winds, rain and hail trigger claims in eastern states
16 January 2025
Storms that have swept through NSW and parts of Queensland have triggered calls for emergency help and some early insurance claims as strong winds and heavy rain hit homes and businesses...
ASIC recruits CEO from fellow regulator
16 January 2025
Australian Competition and Consumer Commission CEO Scott Gregson will leave in March to join the corporate regulator...
Ombudsman rejects staged theft concerns in car claim dispute
16 January 2025
A policyholder who reported his car stolen and destroyed will receive a $50,000 agreed value payout despite an insurer’s concerns about his credibility...
Markel names first casualty claims manager
16 January 2025
Markel has appointed Scott Jordan as casualty claims manager, based in Sydney...