insuranceNEWS.com.au https://www.insurancenews.com.au/ General insurance and financial services news from Australia and around the world en-au admin@insurancenews.com.au Copyright 2019 Resilium managers 'entitled to sue Coverforce' https://www.insurancenews.com.au/daily/resilium-managers-entitled-to-sue-coverforce https://www.insurancenews.com.au/daily/resilium-managers-entitled-to-sue-coverforce Managers who led the buyout of the Resilium authorised representative firm from Suncorp earlier this year have been told by the NSW Supreme Court they would be entitled to seek damages against Coverforce for deceptive conduct over the deal...

]]>
Fri, 13 Dec 2019 16:26:00 +1100
icare's claims model blamed for workers' comp scheme decline https://www.insurancenews.com.au/daily/icares-claims-model-blamed-for-workers-comp-scheme-decline https://www.insurancenews.com.au/daily/icares-claims-model-blamed-for-workers-comp-scheme-decline NSW state insurer icare’s new workers’ compensation claims model is the “primary driver” behind the scheme’s deteriorating performance, according to a highly critical report...

]]>
Fri, 13 Dec 2019 16:15:00 +1100
We’ll meet again: no action from Building Ministers’ Forum https://www.insurancenews.com.au/daily/well-meet-again-no-action-from-building-ministers-forum https://www.insurancenews.com.au/daily/well-meet-again-no-action-from-building-ministers-forum The Building Ministers’ Forum agreed in Canberra today to discuss the professional indemnity crisis in the construction sector with the Insurance Council of Australia at another meeting in February...

]]>
Fri, 13 Dec 2019 15:36:00 +1100
AUB's Coverforce acquisition 'could have gone ahead': judge https://www.insurancenews.com.au/daily/aubs-coverforce-acquisition-could-have-gone-ahead-judge https://www.insurancenews.com.au/daily/aubs-coverforce-acquisition-could-have-gone-ahead-judge A judge has decided that AUB Group’s abandoned acquisition of Coverforce Holdings could have proceeded...

]]>
Thu, 12 Dec 2019 16:31:00 +1100
White Island eruption injuries covered https://www.insurancenews.com.au/daily/white-island-eruption-injuries-covered https://www.insurancenews.com.au/daily/white-island-eruption-injuries-covered Australian tourists who were visiting White Island when it erupted will be covered by New Zealand’s Accident Compensation Corporation, while some travel insurers have also confirmed coverage...

]]>
Thu, 12 Dec 2019 16:27:00 +1100
Governments slammed over PI inaction as forum looms https://www.insurancenews.com.au/daily/governments-feel-the-heat-over-pi-inaction-as-forum-looms https://www.insurancenews.com.au/daily/governments-feel-the-heat-over-pi-inaction-as-forum-looms Building surveyors and certifiers have pressed for urgent action to address the worsening professional indemnity insurance crisis on the eve of tomorrow’s Building Ministers’ Forum in Canberra...

]]>
Thu, 12 Dec 2019 16:25:00 +1100
Roofers caught in ACCC hailstorm enforcement https://www.insurancenews.com.au/daily/roofers-caught-in-accc-hailstorm-enforcement https://www.insurancenews.com.au/daily/roofers-caught-in-accc-hailstorm-enforcement The Australian Competition and Consumer Commission has taken action against two Sydney roofers over Facebook messages about raising prices after tennis-ball sized hailstorms caused widespread property damage last year...

]]>
Wed, 11 Dec 2019 16:17:00 +1100
Industry set for more growth: S&P https://www.insurancenews.com.au/daily/industry-set-for-more-growth-sp https://www.insurancenews.com.au/daily/industry-set-for-more-growth-sp Australia’s general insurance industry is on track to perform solidly over the next few years, S&P says in a new report issued today, citing hardening rates and an all-out efficiency drive as key factors that will support earnings growth...

]]>
Wed, 11 Dec 2019 16:13:00 +1100
Catastrophes send insurance profits plummeting https://www.insurancenews.com.au/daily/catastrophes-send-insurance-profits-plummeting https://www.insurancenews.com.au/daily/catastrophes-send-insurance-profits-plummeting Insurance industry profits fell 12% to $4.4 billion last financial year as catastrophes such as the Sydney hailstorms and the Townsville floods increased natural hazard costs, a KPMG annual review shows...

]]>
Wed, 11 Dec 2019 16:08:00 +1100
Tower starts search as CEO decides to return to Australia https://www.insurancenews.com.au/daily/tower-starts-search-as-ceo-decides-to-return-to-australia https://www.insurancenews.com.au/daily/tower-starts-search-as-ceo-decides-to-return-to-australia Tower CEO Richard Harding will leave the Auckland-based insurer and return to Australia toward the end of next year after deciding not to extend his contract past its current term...

]]>
Tue, 10 Dec 2019 16:13:00 +1100