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Flood damage ‘wildly disproportionate’ to known exposure: ICA

Mon, 04 Dec 2023 04:06:21 GMT

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...

Severe eastern Australia storms trigger thousands of claims

Mon, 04 Dec 2023 04:05:16 GMT

Severe storms and flooding in southern and eastern Australia over the past week have triggered thousands of claims across a swathe of the country...

Bureau warns cyclone could move close to Queensland next week

Mon, 04 Dec 2023 04:04:19 GMT

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...

Queensland, NSW at heightened summer bushfire risk

Mon, 04 Dec 2023 04:03:30 GMT

Large areas of Queensland, NSW and the NT are at increased risk of summer bushfires after above average August to October maximum temperatures...

EQC announces biennial grant recipients

Mon, 04 Dec 2023 04:02:45 GMT

Toka Tu Ake EQC has awarded more than $NZ1.2 million to 14 research teams as part of its Biennial Grants round...

Competition tribunal starts hearing Suncorp bank sale appeal

Mon, 04 Dec 2023 04:01:16 GMT

The Australian Competition Tribunal has today started hearing an appeal over the blocked $4.9 billion sale of Suncorp’s bank to ANZ...

Canberra provides ‘100%’ guarantee to plug midwives PI gap

Mon, 04 Dec 2023 04:00:30 GMT

The Federal Government will pay “100% of any eligible and approved” professional indemnity insurance claims made in relation to intrapartum care provided outside of a hospital setting by privately practicing midwives...

RACQ makes $253 million provision for pricing remediation program

Mon, 04 Dec 2023 03:59:40 GMT

RACQ says it has “fully provisioned” for the expected cost of its ongoing pricing remediation program after the Federal Court last week penalised the motoring club’s insurance business for failing to deliver on premium discounts that had been promised to customers...

ICA calls on NSW to ‘take lead’ on natural hazard resilience

Mon, 04 Dec 2023 03:58:57 GMT

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...

NSW Building Commission launches as standalone regulator

Mon, 04 Dec 2023 03:58:22 GMT

Building Commission NSW has launched today, marking an expansion in the State Government’s efforts to enforce quality and standards control in the construction industry...

Federal Government calls for pre-budget submissions

Mon, 04 Dec 2023 03:57:43 GMT

The Federal Government has invited individuals, businesses and community groups to provide viewpoints on priorities for next year’s federal budget...

Ivory Insurance granted general insurance licence

Mon, 04 Dec 2023 03:46:41 GMT

The Australian Prudential Regulation Authority has licensed Brisbane-based Ivory Insurance to operate as a general insurer...

CGU launches ‘Broker Love’ strategy

Mon, 04 Dec 2023 03:46:01 GMT

IAG’s Intermediated Insurance Australia division has launched a new initiative to transform its relationships with broker partners...

Marsh closes Honan acquisition

Mon, 04 Dec 2023 03:45:31 GMT

Former Honan Insurance Group CEO Andrew Fluitsma has commenced as Marsh’s Pacific Head of Corporate and Commercial...

Resilium Partners acquires Canberra AR

Mon, 04 Dec 2023 03:44:45 GMT

Envest Group-owned subsidiary Resilium Partners has acquired JV Business Insurance in Canberra...

Tower appoints Goldman Sachs to review ownership

Mon, 04 Dec 2023 03:43:58 GMT

New Zealand insurer Tower is undertaking a strategic review of its ownership structure to optimise its capital structure and explore market competitiveness options...

AUB acquires stake in Claim Central Group

Mon, 04 Dec 2023 03:43:20 GMT

Claim Central Group says AUB has become a new investor and its representatives will join the board following recent capital raising activities...

Suncorp NZ names senior leadership appointment

Mon, 04 Dec 2023 03:42:41 GMT

Suncorp New Zealand has announced Suraiya Phillimore-Smith as its new Chief Customer Officer from March 4 next year...

Zurich completes OnePath General Insurance transfer

Mon, 04 Dec 2023 03:42:06 GMT

The transfer of OnePath General Insurance to Zurich’s Australian business has been completed, after the Federal Court last month confirmed the scheme to facilitate the process...

Suncorp to appoint Gillian Brown to board

Mon, 04 Dec 2023 03:41:21 GMT

Suncorp will appoint Brisbane-based Gillian Brown to the board, effective late February, following the retirement this month of Doug McTaggart...