AAMI still working on Christmas bushfire claims
18 April 2016
AAMI is still finalising claims settlements from the Christmas Day bushfire along Victoria’s Great Ocean Road…
Local
In Insurance News (the magazine) this month
18 April 2016
The collapse of Perth-based authorised representative group Winley Insurance will have repercussions in the industry, but Insurance Advisernet Managing Director Shaun Standfield explains in the latest edition of Insurance News (the magazine) why the AR model remains the way of the future…
Broker flags fresh complaints backlog at FOS
11 April 2016
A Brisbane broker says he must wait almost three months before the Financial Ombudsman Service can consider his client’s complaint…
Winley collapse stirs insurers’ anger
11 April 2016
The financial security arrangements smaller authorised representative groups have with insurers are being questioned following the collapse of Perth-based Winley Insurance Group…
Risk rating change leaves bushfire-hit homes underinsured
11 April 2016
Residents of bushfire-devastated Wye River and Separation Creek have been retrospectively rendered underinsured following the Victorian Government’s decision to upgrade the towns’ bushfire attack level to the highest level…
Commercial insurance rates outlook ‘doesn’t look good’
11 April 2016
Climate change and profitability are among the key challenges for insurers this year and beyond, according to actuaries Taylor Fry…
S&P sticks with low-risk rating for mortgage insurers
11 April 2016
Standard & Poor’s has maintained its insurance industry and country risk assessment for the mortgage insurance sector in Australia at “low”…
NZ ombudsman receives more complaints
11 April 2016
New Zealand’s Insurance & Financial Services Ombudsman received 985 complaints in the December-March period, and investigated 100…
Insurance upbeat amid economic pessimism
11 April 2016
Most small and medium businesses in Australia believe the economy is either slowing or standing still, according to the March-quarter Sensis Business Index. Only 13% think it is growing…
Inquiry finds flammable cladding on landmark tower
04 April 2016
Melbourne’s tallest building and major tourist attraction the Eureka Tower has been found to feature combustible cladding…
Hi-tech cars promise short-term gain, long-term pain
04 April 2016
Driverless cars may dramatically reduce premiums and profits, but innovative insurers have three decades to adapt, according to a Moody’s report…
Legal group pushes for junk insurance compensation
04 April 2016
The Melbourne-based Consumer Action Law Centre has started a campaign to help consumers seek refunds for dud add-on insurance policies and warranties…
Blue Mountains class action nears settlement
04 April 2016
An “in principle” settlement has been reached between Endeavour Energy and plaintiffs who filed a Blue Mountains bushfire class action…
Councils underestimate cyber risk, Aon says
04 April 2016
Cyber breaches remain an underrated threat among councils, according to Aon’s Australian Local Government Risk Report…
Cyclone Yasi victims await payout five years on
04 April 2016
Five years after Cyclone Yasi ripped through North Queensland a small number of claimants are yet to receive insurance payouts…
Government cuts crop insurance aid
04 April 2016
The Federal Government has cut funding for crop insurance grants by $9 million…
Consumer group slams insurance investigations
21 March 2016
Heavy-handed insurance investigators treat innocent consumers like criminals, according to a new report from the Financial Rights Legal Centre…
Physical cyber attack risk exposes gap in coverage
21 March 2016
Physically destructive cyber terrorism is a “real gap” in current insurance coverage, according to the head of Australia’s Reinsurance Pool Corporation…
Heat records broken across southeast
21 March 2016
Temperatures in parts of Victoria and NSW hit record levels this month and modelling suggests the above-average warmth will extend into next month, according to the Bureau of Meteorology…
Majors to tighten grip as disruptors make move
21 March 2016
Major general insurers will continue to dominate the Australian market over the next five years, but customer-connected entrants such as Google and Amazon may start to make inroads, according to a new report…