More claims received as industry counts cost of Seroja
19 April 2021
Insurers have received some 2149 claims for losses from Cyclone Seroja, the Insurance Council of Australia says...
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NSW March rain sets new records
19 April 2021
The saying slow as a wet week took on a whole new gravitas last month as the NSW coast experienced its wettest seven-day period since national daily records began in 1900...
‘Ravaged’ Australia’s policy makers must heed climate warnings
19 April 2021
Australia’s decision makers must not ignore the warnings of unprecedented bushfires, droughts, and floods which have ravaged the country in recent years, says a new report entitled Aim High, Go Fast: Why Emissions Need to Plummet this Decade...
Resilient home prototype tested for cyclones, bushfires
19 April 2021
Suncorp has partnered with CSIRO, James Cook University and architects to test a prototype disaster-resilient house as they seek to persuade homeowners to spend on features that help properties withstand cyclones, floods and bushfires...
Settlement reached on A Current Affair lawsuit
19 April 2021
Details of a defamation settlement between former GSA Insurance Brokers Chairman John Hewson and A Current Affair remain confidential after agreements were reached ahead of a Federal Court hearing set for last week...
Travel insurers navigate ‘uncertainty and limitations’ as NZ bubble opens
19 April 2021
As hundreds of passengers enjoy international flights today for the first time since the start of the pandemic, travel insurance will need to be more flexible and offer clear and transparent coverage that minimises misunderstandings, Gallagher Bassett says...
Industry concerned over risk exposure to vaccine rollout
19 April 2021
Medical insurers have reached out to the Federal Government seeking an “iron clad” assurance that there is an indemnity plan to cover for potential claims and other fallout that may arise from the COVID vaccination program...
More Lloyd’s insurers walk away from Adani
19 April 2021
Lloyd’s underwriters Tokio Marine Kiln and ERS Insurance have signalled they will not have anything to do with the Adani Carmichael coal mine in Queensland, according to shareholder activist group Market Forces...
QBE pursues BI test case on Victoria issue
12 April 2021
QBE has launched its own test case in the Federal Court to test the impact of Victorian property laws on business interruption exclusions citing the Quarantine Act...
Ex-cyclone Seroja leaves trail of destruction in WA towns
12 April 2021
Homes, roads and other public infrastructure in WA’s mid-west coastal region suffered significant damage as storm Seroja made landfall as a category 3 tropical cyclone yesterday evening between the townships of Kalbarri and Northampton...
Northern Qld MPs confident on reinsurance pool
12 April 2021
Northern Queensland MP Warren Entsch says evidence of market failure in Australia’s north has increased the likelihood a reinsurance pool proposal will be supported in the next Federal Budget...
Intermediary premium rises to $14.85 billion in December half
12 April 2021
About $14.85 billion of premium was invoiced by general insurance intermediaries in the December half, up from $13.67 billion a year earlier, according to a regular update from the Australian Prudential Regulation Authority...
What’s in the latest edition of Insurance News magazine?
12 April 2021
Insurance Ombudsman John Price has spent 17 years adjudicating on disputed claims, and working with the insurance industry and consumer groups to build a process that emphasises fairness over what the mainstream media likes to call “fine print”. In the April/May edition of Insurance News magazine Mr Price looks back over the development of an independent claims review system...
Retiring NIBA CEO ‘remains available’ for major projects
12 April 2021
National Insurance Brokers Association CEO Dallas Booth will retire from the role later this year – but will continue to assist with major projects such as the upcoming review of broker remuneration...
Qld roofing repairs hit by delays, cost increases
12 April 2021
Roofing repairs in southeast Queensland have been hit by delays and cost increases due to the combined impact of hailstorms last year, continued wet weather and issues related to COVID-19...
Payment scam losses top $14 million: ACCC
12 April 2021
The Australian Competition and Consumer Commission says businesses reported more than $14 million in losses due to payment redirection scams last year and average loss figures to date this year are tracking higher...
Flood losses reach $438 million as clean-up underway
29 March 2021
Insurance losses from the Queensland and NSW flooding catastrophe have reached an estimated $438 million as focus turns to the clean-up and repercussions from the disaster...
ICA sees BI pandemic claim clarity this year
29 March 2021
Insurers and policyholders contesting pandemic-related business interruption claims “will have certainty on most substantial issues” this year as expedited legal hearings and appeals are completed, the Insurance Council of Australia says...
Appeal court supports Lacrosse damages decision
29 March 2021
The Victorian Court of Appeal has largely upheld a landmark decision on the payment of damages by consultants after the cladding-fuelled fire at Melbourne’s Lacrosse building...
Hail to be more frequent in Australia, more severe worldwide
29 March 2021
An international review led by a Sydney-based academic predicts hail severity will increase in most regions of the world while Australia will more frequently experience hailstorms...