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‘On a knife edge’: banks could act on uninsured homes
30 September 2024
Banks are considering calling in or refusing loans on uninsured homes, risking creating “climate ghettos” across the country, an expert told a Senate inquiry into the impact of climate risk on insurance...
Compliance committee wants ‘better reporting, not more breaches’
30 September 2024
The Insurance Brokers Code Compliance Committee has explained what it expects from the profession after voicing concerns in the past over low or zero breaches from some broking subscribers...
Intermediaries first-half premium receipts exceed $19 billion
30 September 2024
The general insurance intermediated channel placed about $19.9 billion in premium during the first six months of the year, up from $18.8 billion a year earlier...
Weather-driven shipping delays increasing marine risks
30 September 2024
Extreme weather is affecting shipping routes, extending voyage times and increasing risks for insurers, Axa XL marine hull and liabilities underwriter Ben Healey has told this year’s Claims Convention...
Insurer issues bushfire risk warning
30 September 2024
Youi has warned bushfire-prone homeowners to prepare after its research found only half of survey respondents were concerned about the risk...
Court rules against covid BI claims proceeding as class actions
23 September 2024
The Federal Court has ruled against hearing covid-related business interruption claims involving four insurers as class actions, leaving policyholders to pursue cases individually if they want to proceed...
Commissions under fire at Senate hearing
23 September 2024
Broker commissions have been labelled “a bit of a rort” at a Senate inquiry into the impact of climate risk on insurance premiums...
AAMI crash data reveals decade’s worst offenders, hotspots
23 September 2024
Male drivers account for 54% of vehicle accidents, according to an AAMI study of 4.3 million claims from 2014 to last year...
NZ researchers work on volcanic ash model
23 September 2024
New Zealand’s Natural Hazards Commission is funding research that could provide detailed modelling for the impacts of volcanic eruptions...
Lawyers, consumer advocates press for strata action
16 September 2024
Consumer groups are pushing for a national inquiry into the strata management sector and a lawyers’ group has called for tougher state-level regulation following last week’s Four Corners program...
Warning to businesses as cyber breach tally climbs
16 September 2024
There were 527 data breach notifications in Australia in the six months to June, up 9% compared with the preceding half to the highest half-year figure since 2020...
AFCA backs traveller in lost luggage dispute
16 September 2024
A traveller whose luggage was stolen from a bus in Barcelona has won a bid to have her insurer accept her claim...
Webinar to tackle confusion over mutuals and trusts
16 September 2024
Insurance News and Picnic Labs will host a webinar this month examining the risk protection offered by discretionary mutual funds, and how they are sometimes confused with discretionary trusts...
Small business warned not to underestimate cyber threat
16 September 2024
More than half of New Zealand small businesses are confident in their cybersecurity settings despite an ever-evolving threat landscape, according to insurer AMI...
Hazards researchers outline community feedback
16 September 2024
Registration is still open for Natural Hazards Research Australia’s “Hazardous” webinar tomorrow...
Steadfast enters trading halt after ABC strata allegations
09 September 2024
Giant listed insurance group Steadfast has entered a trading halt as it prepares to issue a statement in response to allegations published today as part of the ABC’s strata industry exposé...
ICA examines raft of code review proposals
09 September 2024
The Insurance Council of Australia says it is examining a code of practice independent review report that has proposed more than 100 changes across claims handling, enforcement, assistance for vulnerable consumers and other areas...
‘Can of worms?’ AFCA ruling on premium rise rattles industry
09 September 2024
A dispute authority ruling that backed a consumer who complained about a 60% increase in home and contents premiums has caused concern among insurers...
Study reveals climate threat to $170 billion tourism sector
09 September 2024
Half of Australia’s tourism assets such as airports, national parks, beaches and museums are at risk from a changing climate and natural perils, according to research from Zurich...
Capacity surge prompts ‘positive outlook’ for construction market
09 September 2024
An influx of high-quality capacity into the Australian construction market is expected to continue through the second half and into next year, WTW says in a report...