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Steadfast enters trading halt after ABC strata allegations

Mon, 09 Sep 2024 04:22:26 GMT

Giant listed insurance group Steadfast has entered a trading halt as it prepares to issue a statement in response to allegations published today as part of the ABC’s strata industry exposé...

ICA examines raft of code review proposals

Mon, 09 Sep 2024 04:21:55 GMT

The Insurance Council of Australia says it is examining a code of practice independent review report that has proposed more than 100 changes across claims handling, enforcement, assistance for vulnerable consumers and other areas...

‘Can of worms?’ AFCA ruling on premium rise rattles industry

Mon, 09 Sep 2024 04:20:11 GMT

A dispute authority ruling that backed a consumer who complained about a 60% increase in home and contents premiums has caused concern among insurers...

Study reveals climate threat to $170 billion tourism sector

Mon, 09 Sep 2024 04:19:54 GMT

Half of Australia’s tourism assets such as airports, national parks, beaches and museums are at risk from a changing climate and natural perils, according to research from Zurich...

Capacity surge prompts ‘positive outlook’ for construction market

Mon, 09 Sep 2024 04:19:12 GMT

An influx of high-quality capacity into the Australian construction market is expected to continue through the second half and into next year, WTW says in a report...

NAB salutes ‘dynamic’ brokers

Mon, 09 Sep 2024 04:18:57 GMT

Professional services businesses such as insurance brokers have been “remarkably resilient” over the past few years, according to an annual report from NAB...

El Nino unlikely but spring outlook warns of bushfire risk

Mon, 09 Sep 2024 04:18:06 GMT

There is little chance of an El Nino developing this year, while spring poses heightened bushfire risk for large areas in Queensland, the NT, western Victoria and southeast SA...

‘No one unscathed’: wild weather rocks Victoria, Tasmania

Mon, 02 Sep 2024 04:44:59 GMT

Flood evacuations are taking place in Tasmania while 180,000 properties in Victoria lost power overnight and schools were closed as deadly storms lashed southeast Australia...

Marsh expects 'continued improvement' for buyers

Mon, 02 Sep 2024 04:44:46 GMT

Rates have stabilised and premium pools have grown “across most insurance classes”, according to the Marsh Australian Mid-Year Insurance Market Update...

Cash settlement issues reflect wider problems: Mulino

Mon, 02 Sep 2024 04:44:27 GMT

Cash settlement failings reflect issues “up and down the chain” as well as systemic problems, federal flood inquiry chairman Daniel Mulino said at the launch of a Financial Counselling Victoria report...

Medical association raises concern over coverage costs

Mon, 02 Sep 2024 04:44:07 GMT

The Australian Medical Association says the rising cost of indemnity insurance premiums is a significant and growing concern for its members...

NZ hazards portal marks year of progress on risk awareness

Mon, 02 Sep 2024 04:43:32 GMT

Natural Hazards Commission Toka Tu Ake has celebrated the first anniversary of its Natural Hazards Portal, saying it has improved New Zealanders’ understanding of home risks and helped drive mitigation efforts...

ICA holds more forums for storm-hit Queenslanders

Mon, 02 Sep 2024 04:43:08 GMT

The Insurance Council of Australia will hold another round of consultations for southeast Queensland residents affected by storms last December and January...

Warning as home cover affordability stress surges

Mon, 26 Aug 2024 04:40:33 GMT

The number of Australian households facing home insurance affordability stress jumped 30% to 1.61 million in the year to March...

Insurers narrow losses on household cover

Mon, 26 Aug 2024 04:40:23 GMT

Insurers are still losing money in the householders line but industry net earnings increased in the March quarter, according to an Australian Prudential Regulation Authority update...

Industry rejects union attack over ‘price gouging’

Mon, 26 Aug 2024 04:20:15 GMT

Insurers have hit back at allegations of “price gouging” from the Australian Council of Trade Unions, which has criticised the industry’s profits amid rising premiums...

Motor repairers set out guidelines on non-genuine parts

Mon, 26 Aug 2024 03:56:18 GMT

The Motor Trades Association and the Motor Body Repairers Association have released new guidelines to help collision repair businesses respond to insurer requests to use non-genuine parts...

Financial services firms launch ILS fund for Australia, NZ

Mon, 26 Aug 2024 03:55:58 GMT

Bennelong Funds Management and Leadenhall Capital Partners have launched the LCP Insurance Linked Securities Fund...

A NOTE FROM THE PUBLISHER

Mon, 19 Aug 2024 04:52:01 GMT

My name has been on every issue of insuranceNEWS.com.au as the publisher since it was founded in 2008, and this issue is the last time it will appear...

ICA cat report flags ‘widespread’ impact as claims soar

Mon, 19 Aug 2024 04:51:50 GMT

The number of claims from declared extreme weather disasters last financial year surged 73% to more than 156,000 but industry losses remained level at $2.19 billion, the Insurance Council of Australia says in a report today...