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‘Super disappointing’: code redraft falls flat with consumer champions

Wed, 24 Jun 2026 06:22:44 GMT

The redrafted insurance code of practice doubles the penalty for breaches to $200,000 and targets claims processes that last more than a year, but consumer groups say it falls short of expectations and fails to address inquiry recommendations...

Encryption-busting Q-Day moving closer: APRA

Wed, 24 Jun 2026 06:22:38 GMT

Insurers must urgently respond to threats posed by frontier AI and encryption-breaking quantum computers, the Australian Prudential Regulation Authority has warned...

Insurer told to lift payout, compensation to ‘devastated’ family

Wed, 24 Jun 2026 06:22:31 GMT

A family has won a substantial payout and compensation for claim handling errors after home insurer Youi failed for seven months to record that one of their children was disabled or to allocate a priority assistance team...

INsight podcast: IAG’s modular move

Wed, 24 Jun 2026 06:21:26 GMT

IAG’s investment in a modular home builder and its implications for disaster recovery are the first issues discussed on the latest episode of the Insurance News podcast...

Enforceable code of practice released for feedback

Tue, 23 Jun 2026 23:30:38 GMT

The Insurance Council of Australia has unveiled a draft version of its new code of practice, which will for the first time be legally enforceable as part of contracts...

NSW budget’s blowout in ESL collections ‘shows need for reform’

Tue, 23 Jun 2026 06:13:37 GMT

The NSW budget released today underscores the case for emergency services levy reform as collection forecasts escalate compared with projections a year ago, the Insurance Council of Australia says...

Law firms rank high on ransomware target list

Tue, 23 Jun 2026 06:13:27 GMT

Ransomware threats against Australian legal and professional services firms remain at elevated levels, according to QBE’s latest threat intelligence report...

Tower names new claims chief

Tue, 23 Jun 2026 06:13:15 GMT

Tower head of claims experience and transformation Dan Walker has been made chief claims officer...

Insurer must pay for airline’s visa ‘accident’

Tue, 23 Jun 2026 06:13:06 GMT

An Australian who was not allowed to board the first leg of a flight home from Colombia has won a claim dispute...

Judges reject watchdog’s appeal over unfair contract term decision

Mon, 22 Jun 2026 04:34:19 GMT

The corporate regulator has lost its appeal against a Federal Court ruling that a pre-existing condition clause in some HCF Life products did not breach unfair contract term laws...

Authority warns on readiness in a ‘volatile, unpredictable’ world

Mon, 22 Jun 2026 04:09:31 GMT

The prudential regulator has written to insurers, banks and superannuation funds setting out minimum expectations for managing geopolitical shocks, after indentifying readiness gaps...

ARPC appoints next underwriting chief

Mon, 22 Jun 2026 04:07:52 GMT

The Australian Reinsurance Pool Corporation has named Cameron Hick as chief underwriting officer...

State presses on with decennial insurance for defects

Mon, 22 Jun 2026 04:03:23 GMT

Victoria will continue developing regulations for a decennial insurance scheme for apartment building defects after the state’s upper house passed the required legislation last week...

Audit Office slams slow start to resilient homes scheme

Mon, 22 Jun 2026 04:02:02 GMT

“Key elements of planning were not undertaken for the programs prior to their commencement, which had a significant impact on their ongoing implementation and led to delays,” an Audit Office report says...

Company warned over 358 claims handling breaches

Mon, 22 Jun 2026 03:54:26 GMT

An unnamed life insurer has been sanctioned over “significant” claim processing delays that in some cases stretched to more than eight months...

Technology cutting claim times, TAL says

Mon, 22 Jun 2026 03:54:15 GMT

TAL says it paid $4.7 billion in benefits to 57,000 customers in the year to March 31, with “living insurance” claims accounting for 75% of sum...

Regulators move to streamline FAR reporting

Mon, 22 Jun 2026 03:53:12 GMT

The prudential and corporate watchdogs are consulting on measures to ease the regulatory burden on insurance, banking and superannuation entities...

SIRA begins hunt for next chief

Mon, 22 Jun 2026 03:52:58 GMT

The NSW State Insurance Regulatory Authority is searching for a new CEO after announcing the departure of Mandy Young last month...

GT recruits QBE manager as operations chief

Mon, 22 Jun 2026 03:52:34 GMT

Allianz subsidiary GT Insurance says Arron Mann, most recently QBE’s short-tail claims GM, has joined as COO...

Using AI to cut costs an ineffective sugar hit: PwC

Mon, 22 Jun 2026 03:52:24 GMT

PwC has analysed more than 1 billion job adverts worldwide and found businesses that “think big” achieve the greatest gains from AI...