insuranceNEWS.com.au - Breaking NewsGeneral insurance and financial services news from Australia and around the worldhttps://www.insurancenews.com.au/en-auASIC sues Hollard, alleges serious claim handling failureshttps://www.insurancenews.com.au/breaking-news/asic-sues-hollard-alleges-serious-claim-handling-failureshttps://www.insurancenews.com.au/breaking-news/asic-sues-hollard-alleges-serious-claim-handling-failures<p>The corporate regulator alleges Hollard Insurance breached its duty of utmost good faith in its &ldquo;egregious&rdquo; handling of a home and contents claim made by a couple from regional Victoria...</p>Fri, 11 Apr 2025 03:00:51 GMTSteadfast announces COO exithttps://www.insurancenews.com.au/breaking-news/steadfast-announces-coo-exithttps://www.insurancenews.com.au/breaking-news/steadfast-announces-coo-exit<p>Steadfast COO Nigel Fitzgerald will leave the business on July 1 to pursue a &ldquo;personal business venture&rdquo;, the listed insurance group announced today...</p>Sun, 23 Mar 2025 22:17:20 GMTAon names new Australia CEOhttps://www.insurancenews.com.au/breaking-news/aon-names-new-australia-ceohttps://www.insurancenews.com.au/breaking-news/aon-names-new-australia-ceo<p>Aon has appointed Kevan Johnston as Australia CEO following the promotion of Jennifer Richards to a regional role...</p>Wed, 19 Mar 2025 23:31:07 GMTInsurers call for $30 billion flood defence fundhttps://www.insurancenews.com.au/breaking-news/insurers-call-for-30-billion-flood-defence-fundhttps://www.insurancenews.com.au/breaking-news/insurers-call-for-30-billion-flood-defence-fund<p>The Insurance Council of Australia has today called for the creation of a $30.15 billion flood defence fund to tackle the nation&rsquo;s &ldquo;costliest natural disaster&rdquo;...</p>Tue, 25 Feb 2025 05:25:58 GMTSteadfast merges major brokerageshttps://www.insurancenews.com.au/breaking-news/steadfast-merges-melbourne-based-brokerageshttps://www.insurancenews.com.au/breaking-news/steadfast-merges-melbourne-based-brokerages<p>Network Insurance Group and Insurance House are to merge with Andrew Broughton as CEO of the combined business...</p>Fri, 31 Jan 2025 03:04:20 GMTInsurer handed $100,000 penalty over code breachhttps://www.insurancenews.com.au/breaking-news/insurer-handed-100-000-penalty-over-code-breachhttps://www.insurancenews.com.au/breaking-news/insurer-handed-100-000-penalty-over-code-breach<p>A general insurer has been ordered to pay $100,000 for a significant code of practice breach related to failures in the handling of customer claims and complaints...</p>Tue, 28 Jan 2025 23:25:35 GMTicare recruits EML head as chief exechttps://www.insurancenews.com.au/breaking-news/icare-recruits-former-eml-head-as-chief-exechttps://www.insurancenews.com.au/breaking-news/icare-recruits-former-eml-head-as-chief-exec<p>NSW state insurer icare has appointed Geniere Aplin, most recently the head of EML Solutions, as its CEO...</p>Tue, 21 Jan 2025 00:04:45 GMTNeal departs Lloyd’s to take Aon climate rolehttps://www.insurancenews.com.au/breaking-news/neal-departs-lloyd-s-to-take-aon-climate-rolehttps://www.insurancenews.com.au/breaking-news/neal-departs-lloyd-s-to-take-aon-climate-role<p>Lloyd&rsquo;s says CEO John Neal is leaving this year to join Aon as global CEO of reinsurance and chairman of climate solutions...</p>Wed, 08 Jan 2025 23:07:42 GMTAllianz announces sale of Hunterhttps://www.insurancenews.com.au/breaking-news/allianz-announces-sale-of-hunter-premium-fundinghttps://www.insurancenews.com.au/breaking-news/allianz-announces-sale-of-hunter-premium-funding<p>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...</p>Fri, 20 Dec 2024 07:22:43 GMTAllianz to buy RAA insurance businesshttps://www.insurancenews.com.au/breaking-news/allianz-to-buy-raa-insurance-businesshttps://www.insurancenews.com.au/breaking-news/allianz-to-buy-raa-insurance-business<p>Allianz Australia has struck a $642 million deal with SA motoring group RAA that includes the acquisition of its insurance business and a 20-year distribution agreement...</p>Mon, 02 Dec 2024 05:11:58 GMTIAG to buy RACQ underwriting businesshttps://www.insurancenews.com.au/breaking-news/iag-to-buy-racq-underwriting-businesshttps://www.insurancenews.com.au/breaking-news/iag-to-buy-racq-underwriting-business<p>IAG will acquire 90% of the RACQ insurance underwriting business, with an option to buy the remaining 10% in two years, under an $855 million deal announced today...</p>Wed, 27 Nov 2024 22:30:46 GMTFlood probe final report makes raft of recommendationshttps://www.insurancenews.com.au/breaking-news/flood-probe-final-report-makes-raft-of-recommendationshttps://www.insurancenews.com.au/breaking-news/flood-probe-final-report-makes-raft-of-recommendations<p>The parliamentary floods inquiry has made 86 recommendations in a final report released today, including strengthening regulation and the industry code of practice, and considering a &ldquo;government-supported reinsurance arrangement&rdquo; for high-risk properties...</p>Fri, 18 Oct 2024 03:03:59 GMTEnvest reveals leadership changes after PSC acquisitionhttps://www.insurancenews.com.au/breaking-news/envest-reveals-leadership-changes-after-psc-acquisitionhttps://www.insurancenews.com.au/breaking-news/envest-reveals-leadership-changes-after-psc-acquisition<p>Envest has outlined organisational and leadership changes following the completion of Ardonagh&rsquo;s acquisition of PSC Insurance Group...</p>Tue, 15 Oct 2024 02:12:49 GMT‘We are not unethical’: Steadfast hits back after ABC strata showhttps://www.insurancenews.com.au/breaking-news/we-are-not-unethical-steadfast-hits-back-after-abc-strata-showhttps://www.insurancenews.com.au/breaking-news/we-are-not-unethical-steadfast-hits-back-after-abc-strata-show<p>Steadfast Group has released a statement rejecting allegations featured in the ABC&rsquo;s Four Corners investigation into the strata industry...</p>Tue, 10 Sep 2024 00:19:03 GMTInsurance House ARs to switch to CBNhttps://www.insurancenews.com.au/breaking-news/insurance-house-ars-to-switch-to-cbnhttps://www.insurancenews.com.au/breaking-news/insurance-house-ars-to-switch-to-cbn<p>Insurance House authorised representatives are set to move to Community Broker Network as part of a new strategic partnership between the two Steadfast-owned businesses...</p>Wed, 24 Jul 2024 05:00:00 GMTAllianz cops $50,000 penalty for 'significant' code breach https://www.insurancenews.com.au/breaking-news/allianz-cops-50-000-penalty-for-code-breachhttps://www.insurancenews.com.au/breaking-news/allianz-cops-50-000-penalty-for-code-breach<p>Allianz has been ordered to pay a community benefit payment of $50,000 for a code of practice breach, in the first such financial sanction imposed on an insurer by the governance committee...</p>Fri, 07 Jun 2024 00:45:39 GMTArdonagh to buy PSC Insurance Group for $2.3 billionhttps://www.insurancenews.com.au/breaking-news/ardonagh-to-buy-psc-insurance-group-for-2-3-billionhttps://www.insurancenews.com.au/breaking-news/ardonagh-to-buy-psc-insurance-group-for-2-3-billion<p>UK-based Ardonagh has announced it plans to buy PSC Insurance Group for an implied equity value of $2.26 billion...</p>Wed, 08 May 2024 07:23:29 GMTicare CEO Richard Harding resignshttps://www.insurancenews.com.au/breaking-news/icare-ceo-richard-harding-resignshttps://www.insurancenews.com.au/breaking-news/icare-ceo-richard-harding-resigns<p>NSW state-owned insurer icare has announced CEO Richard Harding has resigned and will leave the organisation in October...</p>Wed, 10 Apr 2024 04:18:06 GMTNIBA names new CEOhttps://www.insurancenews.com.au/breaking-news/niba-names-new-ceohttps://www.insurancenews.com.au/breaking-news/niba-names-new-ceo<p>The National Insurance Brokers Association has appointed Richard Klipin as CEO, as Phil Kewin departs the role...</p>Sun, 17 Mar 2024 23:53:52 GMTPSC confirms discussions over potential takeoverhttps://www.insurancenews.com.au/breaking-news/psc-confirms-discussions-over-potential-takeoverhttps://www.insurancenews.com.au/breaking-news/psc-confirms-discussions-over-potential-takeover<p>PSC Insurance Group says it has received &ldquo;multiple strategic approaches&rdquo; and is taking part in discussions that &ldquo;may or may not lead to an offer being made for PSC&rdquo;...</p>Wed, 13 Mar 2024 06:06:35 GMT