Business buyers warned of unexpected insurance hazards
08 March 2021
New business owners may be exposed to potential insurance claims after an acquisition which are not covered by existing policies, Acacia Insurance warns...
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Clarity on second BI test case issues not expected this year
01 March 2021
The Insurance Council of Australia’s second test case on business interruption cover may not bring clarity until well into next year given legal timelines and likely appeal processes...
Hearing dates set for casino group’s BI lawsuit
01 March 2021
The Federal Court has set aside two days of hearings in April for the business interruption lawsuit that The Star Entertainment Group launched last year against Chubb and other insurers...
Class action letters sent to 750,000 CBA customers
01 March 2021
Slater and Gordon says more than 750,000 people will today receive a Federal Court notice advising they may be eligible to be part of a consumer credit insurance class action against Commonwealth Bank...
Industry warned of ‘bumpy’ year ahead
01 March 2021
Australia’s property and casualty sector has been warned it faces a “bumpy” year as the industry attempts to address a raft of pressing challenges such as uncertainties stemming from two business interruption test cases...
In the February/March edition of Insurance News magazine
01 March 2021
While 2020 was a year to forget, 2021 should be the year for finding answers. That’s the theme of the latest edition of Insurance News magazine, which is due to be mailed out later this week...
Property worth $277 billion faces climate risk in Victoria: CoreLogic
01 March 2021
Almost 9% of households in Victoria are at “very high” risk of climate hazards, with another 8% exposed to high risk – equating to $277 billion of property under threat, CoreLogic says...
NZ records costliest severe weather year
01 March 2021
New Zealand has experienced its costliest year for severe weather insured losses, with claim payments hitting a record $NZ248 million...
ICA to host forum to appease frustrations after Halloween hailstorm
01 March 2021
The Insurance Council of Australia will host a community forum in Brisbane’s Springfield Lakes this week as it acknowledges frustration over repair delays following severe hail on October 31...
General insurance GWP forecast to grow 5% a year
22 February 2021
Australia’s general insurance industry will reach gross written premium of $98 billion in 2025, from $76.3 billion last year, supported by gradual economic recovery and growing demand for insurance against natural disasters, GlobalData predicts...
Capacity crunch hits construction sector
22 February 2021
The Australian construction insurance market is experiencing a shift to increased pricing, higher excess levels and more restrictive coverage after a spate of natural catastrophes and project failures, Marsh reveals...
States should share disaster impact assessment data: ICA
22 February 2021
A government-funded advisory committee should be established to collate disaster impact-assessment data across states and territories, The Insurance Council of Australia says...
ICA ends support for Warragamba Dam wall plan
22 February 2021
The Insurance Council of Australia is no longer supporting a proposal to raise the height of the Warragamba Dam wall due to concerns about the impact on cultural heritage sites in the affected area...
ICA, NIBA Facebook pages unaffected by removal of news
22 February 2021
The Insurance Council of Australia and National Insurance Brokers Association say their communications were unaffected by a decision by Facebook to ban links to Australian news items last week...
New earthquake fault 130km from Auckland to be studied
22 February 2021
A newly discovered fault line which is just a 90-minute drive from Auckland is to be examined in a project funded by the Earthquake Commission to determine its quake risk...
Proposed new broker code highlights remuneration transparency
15 February 2021
The National Insurance Brokers Association is seeking feedback on proposed Code of Practice changes that include greater remuneration transparency ahead of the expected release of a finalised document later this year...
SME unease deepens as Victoria locks down again
15 February 2021
The reintroduction of stage four restrictions in Victoria has rattled the confidence of general insurance brokers and their clients and prompted calls for government assistance measures to be ramped up...
Marsh warns on more COVID-19 exclusions
15 February 2021
Continuing litigation related to the COVID-19 pandemic could prompt more liability insurance exclusions, Marsh warns in an Australian market recap...
Man who broke leg while walking dog can claim workers' comp
15 February 2021
A worker who slipped on a wet log while walking his dog around a lake in Tasmania and broke his left thigh bone has won a workers’ compensation claim dispute...
NZ trialling low-cost earthquake early warning system
15 February 2021
New Zealand is set to trial a low-cost community-based earthquake early warning system that could lead to a broad network of internet-linked sensors...