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Broker sentenced for selling fake builders’ cover

Tue, 14 Jan 2025 05:19:13 GMT

An unauthorised broker who sold fake builders’ warranty insurance to NSW construction companies has been fined $8000 and sentenced to 16 months’ imprisonment...

AIG hires former VP for regional agency role

Tue, 14 Jan 2025 05:17:03 GMT

AIG says former senior VP Gany Subramaniam, who left the insurer in 2019, has rejoined as head of agency and partnership distribution for the Asia-Pacific region...

ARPC, university join forces for cyclone resilience research

Tue, 14 Jan 2025 05:16:43 GMT

The Australian Reinsurance Pool Corporation has teamed up with the University of Queensland on a three-year resilience study, and has confirmed that all insurers required to participate in its cyclone pool have now joined...

Traveller’s injury falls short of disability definition

Tue, 14 Jan 2025 05:16:23 GMT

A claimant who suffered a serious ankle injury while boarding a plane has lost his bid for a permanent disability benefit after the dispute authority found the injury does not meet his travel policy requirements...

LA disaster tipped to break wildfire loss record

Mon, 13 Jan 2025 05:06:37 GMT

The Los Angeles wildfires could cause record insured losses of at least $US20 billion ($33 billion) based on preliminary estimates, as the winter disaster further highlights the implications of rising catastrophe risks...

Quake experts raise risk prediction for Darwin, Victorian region

Mon, 13 Jan 2025 05:06:29 GMT

Geoscience Australia has identified Darwin and parts of Victoria’s highlands as areas facing increased risk of strong ground shaking in its updated National Seismic Hazard Assessment...

Envest buys into NZ underwriting agency

Mon, 13 Jan 2025 05:06:04 GMT

Envest will take a “significant” stake in Ando Insurance Group, a New Zealand underwriting agency with more than $NZ500 million ($451 million) in annual gross written premium across personal and commercial lines...

IAG locks in cat reinsurance

Mon, 13 Jan 2025 05:05:21 GMT

IAG has placed its major catastrophe reinsurance program for the calendar year, with cover obtained for two events up to $10 billion...

Neal departs Lloyd’s to take Aon climate role

Wed, 08 Jan 2025 23:07:42 GMT

Lloyd’s says CEO John Neal is leaving this year to join Aon as global CEO of reinsurance and chairman of climate solutions...

Allianz announces sale of Hunter

Fri, 20 Dec 2024 07:22:43 GMT

Allianz Australia has agreed to sell its Hunter Premium Funding business to private equity investor Pemba Capital Partners, as it aims to focus on its core insurance operations...

First regulatory road map gives clearer view of reforms

Fri, 20 Dec 2024 03:25:00 GMT

The federal government has released the first edition of its Regulatory Initiatives Grid, setting out reforms on the agenda at key agencies that are likely to affect insurers...

Restoration trade body signs up another insurer

Fri, 20 Dec 2024 03:24:53 GMT

RACQ Insurance has become an associate member of the Restoration Industry Association of Australasia – the second Australian insurer to do so after Suncorp joined last week...

Building consultants call for tweaks to expert report standard

Fri, 20 Dec 2024 03:24:44 GMT

The Association of Insurance Building and Engineering Consultants has suggested three ways to improve the recently launched best practice standard for expert reports...

Double trouble: no cover after ‘distressing’ car repair saga

Fri, 20 Dec 2024 03:24:30 GMT

A vintage car owner who accused two repairers of stealing and maliciously damaging his vehicle has lost a claims dispute after failing to establish a valid loss under his insurance...

IAG heads up battery risk study as EV market grows

Thu, 19 Dec 2024 04:58:32 GMT

IAG will lead a global research project to “debunk misconceptions” about lithium-ion battery fires and establish guidelines for everyday use and storage...

New network offers financial advice for ARs

Thu, 19 Dec 2024 04:58:24 GMT

A new authorised representative network, repX, is offering members financial advice for their businesses in addition to typical broking-related support services...

Employer fails to show ‘loss’ after wages row

Thu, 19 Dec 2024 04:58:00 GMT

A real estate agency that underpaid its workers has been told to cover the cost of meeting their wage entitlements itself, after a failed bid to trigger a management liability policy...

Sum insured ‘irrelevant’ in gold necklace dispute

Thu, 19 Dec 2024 04:57:46 GMT

A man who lost a gold necklace he insured for $31,500 rejected his insurer’s offer to pay him just over $15,000...

ICA makes ‘phased response’ to floods inquiry, code review final report

Wed, 18 Dec 2024 05:12:19 GMT

The Insurance Council of Australia says it supports 78 recommendations from the federal floods inquiry and the independent review of its code of practice, offering an initial response as it continues to work through more challenging proposals...

PSC owner ends ‘pivotal year’ with US investment deal

Wed, 18 Dec 2024 04:57:27 GMT

Ardonagh Group says it is “well placed” for more growth after securing an investment from Stone Point Capital, a US private equity firm with more than $US55 billion ($86 billion) of assets under management...