01 October 2018
The Insurance Council of Australia is preparing its response to the Hayne royal commission’s “policy questions” document, which was published last week following the insurance round of hearings…
01 October 2018
Brokers are looking at other options if they feel client needs are not being met by major insurers, according to an Austbrokers & IBNA Member Services report…
01 October 2018
Reasonable economic growth and premium rate increases mean underwriting profits for Australian property and casualty insurers are likely to be sound this year and next, a new report by S&P says…
01 October 2018
Insurers paid $2.08 billion in claims for professional indemnity and public and product liability classes of businesses last year, up 23.6% from 2016, the Australian Prudential Regulation Authority says…
01 October 2018
The possibility of an El Nino weather effect developing this year is reducing, but the chances of a positive Indian Ocean Dipole are rising…
01 October 2018
Former New Zealand Finance Minister and Deputy Prime Minister Michael Cullen has been appointed Chairman of the Earthquake Commission (EQC) as it faces the tasks of rebuilding funds, wrapping up Christchurch claims and planning for more extreme weather events…
24 September 2018
Four general insurers face possible misconduct findings after appearing before the Hayne royal commission last week…
24 September 2018
Cash settlements of claims – an issue critically examined last week by the Hayne royal commission into financial services misconduct – is also an area of concern for the Financial Ombudsman Service, which has recorded a record rise in the number of disputes it has handled…
24 September 2018
More than 360 north Queensland households have applied for state government funding to make their homes more resilient to cyclones…
24 September 2018
Insured businesses who receive delayed payouts from their insurer after a natural disaster fare no better in their economic recovery than uninsured businesses, research has found…
24 September 2018
The number of vehicles stolen fell 6% to 52,722 in the last financial year, led by sharp improvements in Victoria and other states, the National Motor Vehicle Theft Reduction Council says…
24 September 2018
Liability insurance premiums for trampoline play centres have risen by more than 300% as insurers react to a steep rise in claims for the niche…
17 September 2018
Allianz this afternoon became the first general insurer to face the Hayne royal commission as Chief GM Retail Distribution Michael Winter was questioned about “incorrect and misleading statements” regarding travel insurance on its website…
17 September 2018
Product disclosure statements and key fact sheets are not helping consumers choose the best insurance cover, according to a study commissioned by the Financial Rights Legal Centre…
17 September 2018
Insurers have labelled as “scattergun” and “extremely disappointing” brokers’ allegations that poor claims experience is becoming more common in the industry…
17 September 2018
Growth in Australia’s cyber insurance market is expected to surge over the next few years, outpacing the expected trajectory for almost all developed countries, Aon says in a quarterly update…
17 September 2018
Australian insurers and their overseas peers are running out of time to prepare for the transition to two new global accounting standards that will come into effect in 2021, KMPG says…
17 September 2018
A massive exercise simulating a tsunami hitting the coasts of Queensland, NSW, Victoria and Tasmania has illustrated the potential damage that low-lying areas could suffer…
10 September 2018
The Hayne royal commission today opened its insurance-round hearings with examples of misconduct and cases where behaviour has fallen short of community standards and expectations…
10 September 2018
National Insurance Brokers Association CEO Dallas Booth says insurers are consistently failing to pay claims because of industry “turmoil”…