Daily
Flood insurers cop flak for ‘random determinations’
08 May 2024
Standard policy wordings for all water damage causes and for wear and tear exclusions were urged today as the federal inquiry into the handling of 2022 flood claims visited Eugowra in NSW...
AUB upbeat as ‘favourable momentum’ continues
08 May 2024
AUB Group has provided a brief investor update flagging continued strong performance with less than two months to go in the financial year...
INsight podcast: code breaches soar again
08 May 2024
Rapidly rising breaches of the General Insurance Code of Practice are the main discussion point on the latest Insurance News podcast...
Flood inquiry: rural communities criticise ‘cultural divide’
07 May 2024
People from central-NSW shires Forbes and Cabonne have told the federal flood inquiry that insurers displayed a “culture that does not understand rural and regional Australia” when handling claims in 2021 and 2022...
Eye doctor penalised for professional misconduct loses dispute
07 May 2024
An ophthalmologist has lost a claim dispute over $329,233 in legal fees after a patient complained he massaged her breasts and asked inappropriate questions...
Builder suspended over insurance breaches
07 May 2024
Victoria has suspended Aycon Constructions & Building Services for breaching insurance laws that require firms to acquire builders’ warranty cover before accepting customer deposits...
Embrace AI to get ahead, agencies and brokers told
07 May 2024
Generative artificial intelligence has the potential to transform insurance by improving efficiency and effectiveness, experts say...
Home buybacks ‘not the only answer’ on flood resilience
03 May 2024
Incentives such as lower premiums are needed to encourage home raising and retrofitting, and buybacks are no silver bullet for resilience, Queensland Reconstruction Authority CEO Jake Ellwood told an event today...
NSW Fair Trading launches strata agency probe
03 May 2024
Strata management agency Netstrata faces a NSW Fair Trading review following the recent media spotlight on its operations...
Truckie pays for posting during workers’ comp fraud
03 May 2024
A truck driver who posted on social media about his new job while receiving weekly workers’ compensation payments must pay $85,000 following a WorkSafe investigation...
Interim chief takes the helm at Club Marine
03 May 2024
Allianz-owned boat insurer Club Marine has appointed Tim Wiles as CEO after he took the role on an interim basis last November...
Compliance committee reports ‘troubling’ rise in breaches
02 May 2024
The General Insurance Code Governance Committee says the number of breaches reported last financial year rose 34% to 77,886 as the industry continued to struggle meeting claims handling time frames...
Insurers rushing back to market: Gallagher
02 May 2024
Australian insurers have re-entered the market “with gusto” in recent months, adding to competitive pressures that have helped premium rates stabilise, broker Gallagher says...
BMW owner wins crash payout despite insurer’s 'aggressive speed' findings
02 May 2024
A driver whose luxury BMW crashed into a tree after being hit by another vehicle has won a claims dispute with his insurer...
AIG fails to overturn ruling on building site fall
02 May 2024
An insurer has lost its bid to avoid paying out for a construction site accident following a dispute over an axed policy and its subsequent liability for a damages settlement...
Terror pool warns of cyber gap as attack threat grows
01 May 2024
The Australian Reinsurance Pool Corporation says a “computer crime” exclusion has left a gap in the nation’s government-backed terrorism cover as the risk of a devastating attack rises...
Agile syndicate opens for business
01 May 2024
Agile’s new Lloyd’s syndicate has started underwriting business in the Australian and New Zealand markets...
Director denied truck fire payout over undisclosed road crime
01 May 2024
A complainant who failed to disclose a history of traffic offences has lost his bid to overturn a claim denial and had his insurance cancelled following a complaints authority ruling...
INsight podcast: commercial rates fall for first time in eight years
01 May 2024
The latest Marsh commercial index is the main topic of debate on this week's Insurance News podcast, as rates fell for the first time since 2016...
Music festival loses cancellation cover fight
30 April 2024
The Subsonic music festival has lost a battle over cancellation cover for its 2019 event in NSW after the Federal Court found bushfires were not the cause and a policy exclusion applied...