Daily
Suncorp’s AA Insurance hit with court action over alleged discount failures
08 June 2023
Suncorp-backed New Zealand insurer AA Insurance is facing civil proceedings over alleged failures to apply discounts and guaranteed no claim bonuses to eligible customers’ premiums, leading to overcharges of $NZ11.2 million ($10.2 million)...
Queensland proceeds with $174 million Bundaberg levee after securing funding
08 June 2023
Queensland will go ahead with the Bundaberg East Levee after the flood mitigation project secured $174.7 million in funding commitments at state and federal levels...
Natural disaster response costs NSW billions
08 June 2023
The NSW government’s disaster response expenditure blew out to $2.5 billion in the 18 months to December 31 as storms and severe floods damaged roads, bridges, waste collection centres and other essential services facilities, and large grants were allocated...
Cleaner and escort worker ordered to repay WorkSafe after fraud discovered
08 June 2023
A fraudster who operated as a cleaner and escort while receiving over $74,000 in workers’ compensation will be required to repay WorkSafe after he pleaded guilty to fraudulently obtaining payments by deception...
‘New era’ for resilience investment as $400 million mitigation projects announced
07 June 2023
The Federal Government has announced the list of 187 projects that will receive $200 million from the mitigation-focused Disaster Ready Fund to shore up the country’s defences against future floods, cyclones and other natural perils...
Court backs builder over Atlantis cladding claim notification
07 June 2023
The Federal Court has found against insurers in a dispute over whether they were notified about a possible professional indemnity claim over flammable cladding on the 36-storey Atlantis Towers building in Melbourne, amid wider concerns generated by the Lacrosse fire...
Suncorp deal won’t substantially lessen competition: ANZ
07 June 2023
ANZ CEO Shayne Elliott says Australia’s banking sector is dynamic and competition continues to increase, and its $4.9 billion offer to buy Suncorp Bank should not be blocked by the regulator...
INsight podcast: the demise of Catholic Church Insurance
07 June 2023
The failure of Catholic Church Insurance is the main topic tackled by the panel in the latest edition of the Insurance News podcast...
Bureau of Meteorology moves to El Nino Alert
06 June 2023
The Bureau of Meteorology has issued an El Nino Alert, indicating a higher chance of the type of drier weather and warmer temperatures associated with increased bushfire risk in south eastern Australia...
Insurer fails to prove exclusion applies to earthquake claim
06 June 2023
A homeowner who said an earthquake damaged her property will be covered for repairs after an Australian Financial Complaints Authority ruling found her insurer failed to establish grounds to decline the claim...
Mustard launches personal cyber cover through partnership
06 June 2023
Mustard Underwriting has signed a strategic partnership with leading cloud-based cybersecurity services provider Digimune, enabling it to offer “world class” personal cyber cover to the Australian and wider Asia Pacific market...
Forestry firms protect carbon credits with parametric insurance
06 June 2023
Australian plantation owners are buying parametric insurance to preserve the value of carbon credits as well as counter bushfire risk, Descartes Underwriting says...
‘The year of the raise’: insurance staff should expect pay jump, recruiter says
02 June 2023
Two-thirds of insurance industry employers plan to increase salaries by more than 3% at review time, and almost all intend to offer some increase, a new survey by recruitment firm Hays says...
‘Universally loved’: former Marsh broker dies
02 June 2023
Robert Pasquini, a senior and expert broker who spent 27 years at Marsh, has died after a long battle with cancer...
Policyholder loses dispute after alleging claim denial was 'revenge'
02 June 2023
A vehicle owner who failed to inform his insurer that his car had pre-existing damage has lost his challenge against its decision to cancel his existing policy and reduce its liability for a claim...
Latitude completes Hallmark insurance sale
02 June 2023
Latitude Group Holdings has completed the sale of its Hallmark business to St Andrew’s Insurance Group for $21.3 million...
NZ unveils voluntary buyout scheme for risky properties in cyclone, flood areas
01 June 2023
The New Zealand Government announced today a “voluntary buyout” scheme for Category 3-designated residential properties in cyclone and flood-affected regions, including ones that were affected by Cyclone Gabrielle and the record North Island floods this recent summer...
EQC secures record $8 billion reinsurance, enters cat bond market
01 June 2023
New Zealand’s Toka Tu Ake EQC has increased its reinsurance to a record level, just below $NZ8.2 billion, and has entered the catastrophe bond market for the first time...
Insurer loses wear and tear argument over hail-damaged asbestos roof
01 June 2023
A Brisbane-based homeowner has won a dispute against her insurer to have her asbestos corrugated roof replaced after it was damaged by a hailstorm...
INsight podcast: story behind the APRA stats
01 June 2023
Industry statistics released by the Australian Prudential Regulation Authority – and the story behind them – are the main focus for the panel on the latest episode of the Insurance News podcast...