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Analysts flag market impacts as spotlight falls on strata

Wed, 11 Sep 2024 06:26:58 GMT

Improved disclosure to strata customers may be necessary and market share impacts for Steadfast are possible following this week’s Four Corners program and increased scrutiny on vertically integrated brokers, Morningstar says...

Johns Lyng defends ‘robust and transparent’ practices

Wed, 11 Sep 2024 05:49:10 GMT

Building services provider Johns Lyng Group says it is committed to transparency and integrity in response to ABC reports this week criticising the strata industry...

Labor to ban use of genetic test results in life underwriting

Wed, 11 Sep 2024 05:48:09 GMT

The federal government will bar life insurers from using genetic test results to assess underwriting risks, a move that has the backing of the industry...

INsight podcast: the ABC of strata

Wed, 11 Sep 2024 04:49:23 GMT

The ABC's strata investigation is the main issue discussed on the latest episode of the Insurance News podcast...

‘Deep concern’: call for Treasurer to hold strata inquiry

Tue, 10 Sep 2024 06:01:43 GMT

Consumer groups have urged Federal Treasurer Jim Chalmers to launch a public inquiry into the strata management industry following last night’s Four Corners program...

Steadfast announces ‘further review’ after ABC allegations

Tue, 10 Sep 2024 05:57:31 GMT

Steadfast's trading halt has been lifted, and it has announced a review to flush out “inappropriate” behaviour following allegations about the listed group made as part of the ABC’s Four Corners strata exposé, which aired last night...

State probes claims against strata commissioner

Tue, 10 Sep 2024 05:55:56 GMT

The NSW government has confirmed it is examining claims made against strata commissioner John Minns, whose business interest in a property management firm was flagged in the ABC’s Four Corners program yesterday...

icare ‘sorry’ over dust disease pay errors

Tue, 10 Sep 2024 05:30:47 GMT

NSW state insurer icare says about 300 participants in its dust diseases scheme were underpaid...

‘We are not unethical’: Steadfast hits back after ABC strata show

Tue, 10 Sep 2024 00:19:03 GMT

Steadfast Group has released a statement rejecting allegations featured in the ABC’s Four Corners investigation into the strata industry...

Lloyd’s ‘well positioned’ after strong half

Mon, 09 Sep 2024 05:01:11 GMT

Lloyd’s CEO John Neal says many business lines are still experiencing positive trends following the business’ “superb” first half...

Cyclone pool extension could add $35 million to losses

Mon, 09 Sep 2024 04:38:22 GMT

Cyclone reinsurance pool average annual losses would increase by $20-$35 million if the cover period was extended to seven days after an event, research requested by the Assistant Treasurer shows...

Fine for car cleaner who defrauded workers’ comp scheme

Mon, 09 Sep 2024 04:38:06 GMT

A Victorian man who ran a car detailing business while receiving injury support payments has been fined for defrauding the state workers’ compensation scheme...

WA to begin strata law review consultation

Mon, 09 Sep 2024 04:37:49 GMT

WA will next month begin public consultations on a review of state strata legislation after major reforms were introduced four years ago...

Reinsurance market ‘both promising and challenging’

Mon, 09 Sep 2024 04:37:09 GMT

Munich Re says the reinsurance sector has achieved a “sensible balance” in an environment characterised by high demand...

‘Favourable conditions’ keep reinsurers on a roll

Mon, 09 Sep 2024 04:36:57 GMT

Reinsurers will continue to perform well on the back of supportive prices, favourable policy terms and higher investment yields, according to a Moody’s Ratings report...

Reinsurers still ‘dictating terms’ amid capacity boost

Mon, 09 Sep 2024 04:36:36 GMT

Reinsurers have maintained strict underwriting criteria despite improved appetite for catastrophe risks, according to an AM Best report...

‘Caution abounds’ as M&A slumps to 15-year low

Mon, 09 Sep 2024 04:36:15 GMT

Insurance mergers and acquisitions slowed in the first six months of the year, according to an update from law firm Clyde & Co...

Moody’s buys disaster modeller Praedicat

Mon, 09 Sep 2024 04:35:57 GMT

Moody’s has acquired casualty insurance analytics group Praedicat to strengthen its modelling capabilities and provide new resources for customers...

Civil unrest, forever chemicals require industry ‘rethink’

Mon, 09 Sep 2024 04:35:38 GMT

The insurance industry is likely to turn to parametric products to address rises in strikes, riots and political violence, Howden Re says...

Zurich flood alliance expands resilience mission

Mon, 09 Sep 2024 04:35:13 GMT

Zurich says its Flood Resilience Alliance will become the Climate Resilience Alliance as it widens its focus to encompass more impacts of global heating and advocacy for adaptation...