insuranceNEWS.com.au - Daily

Zurich urges public-private solution to climate risks

Wed, 30 Apr 2025 06:25:48 GMT

Zurich has called on governments to prioritise resilience policies and work with the private sector amid escalating natural catastrophe insured losses...

‘No question’ there is market failure: Dutton

Wed, 30 Apr 2025 06:24:50 GMT

Coalition leader Peter Dutton says Australians are facing “astronomical” rises in insurance premiums, creating a huge problem that federal government can help address...

Insurer to meet claimant halfway on ‘slow leak’ damage

Wed, 30 Apr 2025 06:17:59 GMT

A homeowner’s water damage claim will be partially paid after a dispute over coverage for a long-running pipe leak...

INsight podcast: local market continues softening trend

Wed, 30 Apr 2025 04:28:10 GMT

Further falls in commercial rates are the main talking point on the latest episode of the Insurance News podcast...

Flexi-hoses a ‘ticking time bomb’, Suncorp study shows

Tue, 29 Apr 2025 06:08:03 GMT

Burst flexi-hoses are responsible for one in 10 water damage claims lodged with Suncorp and cost an average of more than $27,500 per incident, the insurer says...

Lawyers flag $34 million add-on cover settlement

Tue, 29 Apr 2025 06:07:52 GMT

A car dealerships add-on insurance class action involving Suncorp will be settled for $34 million if a court hearing in June approves the proposed agreement...

AFCA backs insurer’s close call in dispute over ex’s death

Tue, 29 Apr 2025 06:06:50 GMT

A traveller who returned early from a trip when her ex-husband died will not have her costs covered because the man was not considered a “close relative”...

ANZIIF’s in-person annual meeting ‘a chance to reconnect’

Tue, 29 Apr 2025 05:59:08 GMT

The Australian and New Zealand Institute of Insurance and Finance will hold an in-person annual general meeting for the first time since 2019...

ICA warns on ‘zombie’ developments as land use reform stalls

Thu, 24 Apr 2025 06:32:29 GMT

State and local governments must push through land use reforms and stop reapproving decades-old “zombie” developments in flood zones, the Insurance Council of Australia says...

‘Demographic revolution’ to reshape consumer needs

Thu, 24 Apr 2025 06:31:24 GMT

An ageing population will transform general insurance, with implications for motor, property and liability covers, a report by consultancy Capgemini says...

Mother wins compensation for vulnerability oversight

Thu, 24 Apr 2025 06:30:06 GMT

The industry ombudsman has told Suncorp to pay a motor policyholder $2500 compensation after it failed to identify her as a vulnerable customer and caused stress through its communications...

INsight podcast: Finity experts discuss our market outlook report

Thu, 24 Apr 2025 03:55:26 GMT

A special feature podcast takes a deep dive into the Finity/Insurance News INFORM market outlook report, which aims to help insurance professionals adjust to a rapidly softening landscape...

Cyclone Alfred loss hits $2.5 billion: Perils

Wed, 23 Apr 2025 06:39:36 GMT

Catastrophe data specialist Perils says insured losses from Cyclone Alfred have passed $2.56 billion – making it the largest cyclone loss event since Tracy hit Darwin in 1974...

AI errors could lead to ‘next silent cyber’

Wed, 23 Apr 2025 06:37:00 GMT

Underwriters should be on alert for unwitting exposure to claims stemming from inaccuracies caused by artificial intelligence, an insurance lawyer says...

Insurers ‘must act’ on acceptance of standard authority forms

Wed, 23 Apr 2025 06:36:52 GMT

The General Insurance Code Governance Committee has told insurers to take action over a reported reluctance to accept consumer advocates’ standard authority forms...

Altered states: authority backs SA insurer in car storage dispute

Wed, 23 Apr 2025 04:00:55 GMT

A motor policyholder who stated her son’s car was stored in South Australia has been denied a payout after her insurer argued it would not have covered a vehicle that was, in fact, kept in Victoria...

WTW regional broking head takes on construction role

Tue, 22 Apr 2025 06:34:29 GMT

WTW has appointed Trent Williams to an additional role as head of broking for global construction...

Defects cover push ‘could add $35,000 to home price’

Tue, 22 Apr 2025 06:18:11 GMT

If latent defects insurance is made mandatory in the ACT, it will increase the cost of building new homes by 3%-5%, the Property Council of Australia warns...

Fair weather brightens outlook for Tower

Tue, 22 Apr 2025 06:17:49 GMT

Tower has raised its profit guidance for the year to September due to unusually favourable weather, lower inflation and fewer total loss house claims...

Policyholder wins storm payout after pre-existing damage row

Tue, 22 Apr 2025 06:16:23 GMT

A WA homeowner’s storm damage claim must be accepted after the complaints authority determined her insurer cannot rely on a pre-existing damage exclusion...