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Resilium managers 'entitled to sue Coverforce'

Fri, 13 Dec 2019 16:26:00 +1100

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...

icare's claims model blamed for workers' comp scheme decline

Fri, 13 Dec 2019 16:15:00 +1100

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...

We�ll meet again: no action from Building Ministers� Forum

Fri, 13 Dec 2019 15:36:00 +1100

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...

AUB's Coverforce acquisition 'could have gone ahead': judge

Thu, 12 Dec 2019 16:31:00 +1100

A judge has decided that AUB Group’s abandoned acquisition of Coverforce Holdings could have proceeded...

White Island eruption injuries covered

Thu, 12 Dec 2019 16:27:00 +1100

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...

Governments slammed over PI inaction as forum looms

Thu, 12 Dec 2019 16:25:00 +1100

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...

Roofers caught in ACCC hailstorm enforcement

Wed, 11 Dec 2019 16:17:00 +1100

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...

Industry set for more growth: S&P

Wed, 11 Dec 2019 16:13:00 +1100

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...

Catastrophes send insurance profits plummeting

Wed, 11 Dec 2019 16:08:00 +1100

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...

Tower starts search as CEO decides to return to Australia

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

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...