ICA acts on affordability in Trowbridge response
20 September 2021
The Insurance Council of Australia will form a Business Advisory Council as part of responses to a report delivered by John Trowbridge on availability and affordability issues...
Local
Consumer advocates ramp up pressure on landlord insurers
20 September 2021
Consumer groups have again alleged that landlord insurers are “unfairly” demanding tenants pay for their landlords’ insurance claims, after first flagging the problem last month...
Judgment awaited after second BI test case concludes
20 September 2021
A Federal Court decision on the Insurance Council of Australia second test case could be handed down as early as next month, with a potential appeal already scheduled for November...
Bureau warns of 50% La Nina chance
20 September 2021
The Bureau of Meteorology says there is a 50% chance of a flood-inducing La Nina weather system forming this year due to recent cooling in the tropical Pacific – which is more than double the normal likelihood...
ICA announces virtual forum
20 September 2021
The Insurance Council of Australia will hold its Annual Industry Forum next month, but it will be in a virtual format...
ICA second test case set to conclude this week
13 September 2021
The Insurance Council of Australia second business interruption test case is set to conclude this week after hearing arguments relating to disease and prevention of access wordings and how any losses should be calculated if a policy is triggered...
Theatres file $20 million BI court action against Ansvar
13 September 2021
Theatres that rank amongst Melbourne’s most iconic venues have filed Victorian Supreme Court action against Ansvar Insurance seeking cover for pandemic business interruption losses totalling more than $20 million...
Broker Co-op names directors
13 September 2021
Independent cluster group Broker Co-op has completed its registration and named its first board of directors...
Strata report reveals scale of tax burden
13 September 2021
More than a quarter of strata premiums went to government taxes such as GST and stamp duties, according to a report commissioned by peak body Strata Community Association...
ICA seeks border action as disaster season looms
13 September 2021
Australia’s governments need to put arrangements in place ahead of summer to allow the insurance sector to respond to natural disasters around the country, with current border restrictions hindering movement, the industry has warned...
NZ July storm insured losses top $117 million
13 September 2021
Insured losses from storms that left a raft of damage across much of New Zealand in July have reached at least $NZ122 million...
Second BI test case opens with Townsville pub claim
06 September 2021
The Insurance Council of Australia second business interruption case has started in the Federal Court today with a focus on a claim lodged by The Taphouse craft beer bar and restaurant in Townsville...
Householder class 'a major challenge' for insurers
06 September 2021
Year-on-year premium increases have not been enough to restore profitability in householder insurance, actuarial consultancy Taylor Fry warns in its latest Radar report...
Path out of lockdown backed by largest insurers
06 September 2021
Allianz, IAG, QBE and Suncorp are among major Australian companies to sign an open letter published in daily newspapers calling for governments to “stay the course” on an agreed pathway out of COVID-19 lockdowns...
Lockdowns add to workplace mental health challenges
06 September 2021
Employees are feeling the emotional toll of lockdowns, with more than two in three struggling to find a balance between work and personal space since the start of the pandemic, according to Allianz Australia...
The Star BI claim set for appeal battle
06 September 2021
The Star Entertainment Group is appealing a Federal Court business interruption decision that found the casino operator was not covered for losses resulting from COVID-19 restrictions...
Insurers urged to reassess investment strategy
06 September 2021
Investment consultancy Frontier Advisors says it is time for general insurers in Australia to consider a change in strategy, by stepping up their focus in other asset classes such as unlisted infrastructure to improve investment returns...
EQC CEO Sid Miller departs
06 September 2021
CEO of New Zealand’s Earthquake Commission (EQC) Sid Miller will vacate the role in March...
West Auckland cleans-up flood damage amid lockdown
06 September 2021
Insurers are working to complete urgent repairs and are moving ahead with claims processes amid tight COVID-19 restrictions following severe flooding that hit West Auckland last week...
Industry achieves $1 billion profit
30 August 2021
The general insurance industry made a net profit after-tax of $1 billion for the year to June 30, according to a regular update from the Australian Prudential Regulation Authority...