insuranceNEWS.com.au - All newsGeneral insurance and financial services news from Australia and around the worldhttps://www.insurancenews.com.au/en-auFlood damage ‘wildly disproportionate’ to known exposure: ICA https://www.insurancenews.com.au/local/flood-damage-wildly-disproportionate-to-known-exposure-icahttps://www.insurancenews.com.au/local/flood-damage-wildly-disproportionate-to-known-exposure-ica<p>Flood events accounted for more than 54% of losses from declared insurance events in the last five years despite only a small percentage of properties known to be at risk, the Insurance Council of Australia (ICA) says in a submission to a parliamentary inquiry...</p>Mon, 04 Dec 2023 04:06:21 GMTSevere eastern Australia storms trigger thousands of claims https://www.insurancenews.com.au/local/severe-eastern-australia-storms-trigger-thousands-of-claimshttps://www.insurancenews.com.au/local/severe-eastern-australia-storms-trigger-thousands-of-claims<p>Severe storms and flooding in southern and eastern Australia over the past week have triggered thousands of claims across a swathe of the country...</p>Mon, 04 Dec 2023 04:05:16 GMTBureau warns cyclone could move close to Queensland next week https://www.insurancenews.com.au/local/bureau-warns-cyclone-could-move-close-to-queensland-next-weekhttps://www.insurancenews.com.au/local/bureau-warns-cyclone-could-move-close-to-queensland-next-week<p>The Bureau of Meteorology says a tropical cyclone has a high chance of forming near the Solomon Islands and could move close to the Queensland coast next week...</p>Mon, 04 Dec 2023 04:04:19 GMTQueensland, NSW at heightened summer bushfire risk https://www.insurancenews.com.au/local/queensland-nsw-at-heightened-summer-bushfire-riskhttps://www.insurancenews.com.au/local/queensland-nsw-at-heightened-summer-bushfire-risk<p>Large areas of Queensland, NSW and the NT are at increased risk of summer bushfires after above average August to October maximum temperatures...</p>Mon, 04 Dec 2023 04:03:30 GMTEQC announces biennial grant recipients  https://www.insurancenews.com.au/local/eqc-announces-biennial-grant-recipientshttps://www.insurancenews.com.au/local/eqc-announces-biennial-grant-recipients<p>Toka Tu Ake EQC has awarded more than $NZ1.2 million to 14 research teams as part of its Biennial Grants round...</p>Mon, 04 Dec 2023 04:02:45 GMTCompetition tribunal starts hearing Suncorp bank sale appeal https://www.insurancenews.com.au/regulatory-government/competition-tribunal-starts-hearing-suncorp-bank-sale-appealhttps://www.insurancenews.com.au/regulatory-government/competition-tribunal-starts-hearing-suncorp-bank-sale-appeal<p>The Australian Competition Tribunal has today started hearing an appeal over the blocked $4.9 billion sale of Suncorp&rsquo;s bank to ANZ...</p>Mon, 04 Dec 2023 04:01:16 GMTCanberra provides ‘100%’ guarantee to plug midwives PI gap https://www.insurancenews.com.au/regulatory-government/canberra-provides-100-guarantee-to-plug-midwives-pi-gaphttps://www.insurancenews.com.au/regulatory-government/canberra-provides-100-guarantee-to-plug-midwives-pi-gap<p>The Federal Government will pay &ldquo;100% of any eligible and approved&rdquo; professional indemnity insurance claims made in relation to intrapartum care provided outside of a hospital setting by privately practicing midwives...</p>Mon, 04 Dec 2023 04:00:30 GMTRACQ makes $253 million provision for pricing remediation program https://www.insurancenews.com.au/regulatory-government/racq-makes-253-million-provision-for-pricing-remediation-programhttps://www.insurancenews.com.au/regulatory-government/racq-makes-253-million-provision-for-pricing-remediation-program<p>RACQ says it has &ldquo;fully provisioned&rdquo; for the expected cost of its ongoing pricing remediation program after the Federal Court last week penalised the motoring club&rsquo;s insurance business for failing to deliver on premium discounts that had been promised to customers...</p>Mon, 04 Dec 2023 03:59:40 GMTICA calls on NSW to ‘take lead’ on natural hazard resilience  https://www.insurancenews.com.au/regulatory-government/ica-calls-on-nsw-to-take-lead-on-natural-hazard-resiliencehttps://www.insurancenews.com.au/regulatory-government/ica-calls-on-nsw-to-take-lead-on-natural-hazard-resilience<p>Insurance Council of Australia CEO Andrew Hall has delivered a six-point recommendation to NSW Planning and Environment Committee Chair Sue Higginson, calling for renewed actions on natural hazard resilience...</p>Mon, 04 Dec 2023 03:58:57 GMTNSW Building Commission launches as standalone regulator  https://www.insurancenews.com.au/regulatory-government/nsw-building-commission-launches-as-standalone-regulatorhttps://www.insurancenews.com.au/regulatory-government/nsw-building-commission-launches-as-standalone-regulator<p>Building Commission NSW has launched today, marking an expansion in the State Government&rsquo;s efforts to enforce quality and standards control in the construction industry...</p>Mon, 04 Dec 2023 03:58:22 GMTFederal Government calls for pre-budget submissions  https://www.insurancenews.com.au/regulatory-government/federal-government-calls-for-pre-budget-submissionshttps://www.insurancenews.com.au/regulatory-government/federal-government-calls-for-pre-budget-submissions<p>The Federal Government has invited individuals, businesses and community groups to provide viewpoints on priorities for next year&rsquo;s federal budget...</p>Mon, 04 Dec 2023 03:57:43 GMTIvory Insurance granted general insurance licence https://www.insurancenews.com.au/corporate/ivory-insurance-granted-general-insurance-licencehttps://www.insurancenews.com.au/corporate/ivory-insurance-granted-general-insurance-licence<p>The Australian Prudential Regulation Authority has licensed Brisbane-based Ivory Insurance to operate as a general insurer...</p>Mon, 04 Dec 2023 03:46:41 GMTCGU launches ‘Broker Love’ strategy https://www.insurancenews.com.au/corporate/cgu-launches-broker-love-strategyhttps://www.insurancenews.com.au/corporate/cgu-launches-broker-love-strategy<p>IAG&rsquo;s Intermediated Insurance Australia division has launched a new initiative to transform its relationships with broker partners...</p>Mon, 04 Dec 2023 03:46:01 GMTMarsh closes Honan acquisition  https://www.insurancenews.com.au/corporate/marsh-closes-honan-acquisitionhttps://www.insurancenews.com.au/corporate/marsh-closes-honan-acquisition<p>Former Honan Insurance Group CEO Andrew Fluitsma has commenced as Marsh&rsquo;s Pacific Head of Corporate and Commercial...</p>Mon, 04 Dec 2023 03:45:31 GMTResilium Partners acquires Canberra AR https://www.insurancenews.com.au/corporate/resilium-partners-acquires-canberra-arhttps://www.insurancenews.com.au/corporate/resilium-partners-acquires-canberra-ar<p>Envest Group-owned subsidiary Resilium Partners has acquired JV Business Insurance in Canberra...</p>Mon, 04 Dec 2023 03:44:45 GMTTower appoints Goldman Sachs to review ownership https://www.insurancenews.com.au/corporate/tower-appoints-goldman-sachs-to-review-ownershiphttps://www.insurancenews.com.au/corporate/tower-appoints-goldman-sachs-to-review-ownership<p>New Zealand insurer Tower is undertaking a strategic review of its ownership structure to optimise its capital structure and explore market competitiveness options...</p>Mon, 04 Dec 2023 03:43:58 GMTAUB acquires stake in Claim Central Group https://www.insurancenews.com.au/corporate/aub-acquires-stake-in-claim-central-grouphttps://www.insurancenews.com.au/corporate/aub-acquires-stake-in-claim-central-group<p>Claim Central Group says AUB has become a new investor and its representatives will join the board following recent capital raising activities...</p>Mon, 04 Dec 2023 03:43:20 GMTSuncorp NZ names senior leadership appointment  https://www.insurancenews.com.au/corporate/suncorp-nz-names-senior-leadership-appointmenthttps://www.insurancenews.com.au/corporate/suncorp-nz-names-senior-leadership-appointment<p>Suncorp New Zealand has announced Suraiya Phillimore-Smith as its new Chief Customer Officer from March 4 next year...</p>Mon, 04 Dec 2023 03:42:41 GMTZurich completes OnePath General Insurance transfer https://www.insurancenews.com.au/corporate/zurich-completes-one-path-general-insurance-transferhttps://www.insurancenews.com.au/corporate/zurich-completes-one-path-general-insurance-transfer<p>The transfer of OnePath General Insurance to Zurich&rsquo;s Australian business has been completed, after the Federal Court last month confirmed the scheme to facilitate the process...</p>Mon, 04 Dec 2023 03:42:06 GMTSuncorp to appoint Gillian Brown to board https://www.insurancenews.com.au/corporate/suncorp-to-appoint-gillian-brown-to-boardhttps://www.insurancenews.com.au/corporate/suncorp-to-appoint-gillian-brown-to-board<p>Suncorp will appoint Brisbane-based Gillian Brown to the board, effective late February, following the retirement this month of Doug McTaggart...</p>Mon, 04 Dec 2023 03:41:21 GMT