General insurance and financial services news from Australia and around the worldhttps://www.insurancenews.com.au/en-auhttps://www.insurancenews.com.au/local/cut-red-tape-by-cutting-misconduct-consumer-lobby-sayshttps://www.insurancenews.com.au/local/cut-red-tape-by-cutting-misconduct-consumer-lobby-says<p>If insurers want less regulation they should improve their behaviour, a consumer lobby group has said after an industry report showed oversight costs up to $3.5 billion a year...</p>Mon, 10 Nov 2025 03:55:59 GMThttps://www.insurancenews.com.au/local/state-insurer-ends-loss-streak-as-premium-climbshttps://www.insurancenews.com.au/local/state-insurer-ends-loss-streak-as-premium-climbs<p>The Victorian Managed Insurance Authority has turned around three years of losses to report a $118 million operating surplus for 2024-25...</p>Mon, 10 Nov 2025 03:55:53 GMThttps://www.insurancenews.com.au/local/afca-unable-to-publish-determinations-due-to-system-issuehttps://www.insurancenews.com.au/local/afca-unable-to-publish-determinations-due-to-system-issue<p>The Australian Financial Complaints Authority has confirmed it has not been publishing determinations for more than a month...</p>Mon, 10 Nov 2025 03:55:16 GMThttps://www.insurancenews.com.au/local/ica-sounds-alarm-on-disaster-chasers-after-brisbane-stormshttps://www.insurancenews.com.au/local/ica-sounds-alarm-on-disaster-chasers-after-brisbane-storms<p>The Insurance Council of Australia has warned homeowners hit by recent storms in southeast Queensland to beware opportunistic &ldquo;disaster chasers&rdquo;...</p>Mon, 10 Nov 2025 03:54:47 GMThttps://www.insurancenews.com.au/local/new-zealand-shakes-up-quake-building-standardshttps://www.insurancenews.com.au/local/new-zealand-shakes-up-quake-building-standards<p>About 55% of the properties in New Zealand&rsquo;s earthquake-prone building system will be removed under proposed reforms...</p>Mon, 10 Nov 2025 03:54:30 GMThttps://www.insurancenews.com.au/local/ombudsman-backs-insurer-in-vehicle-value-rowhttps://www.insurancenews.com.au/local/ombudsman-backs-insurer-in-vehicle-value-row<p>A car owner who alleged his insurer did not properly notify him of a 31% drop in his vehicle&rsquo;s agreed value has lost his bid for a payout increase...</p>Mon, 10 Nov 2025 03:54:21 GMThttps://www.insurancenews.com.au/local/insurers-to-revisit-alfred-hit-communitieshttps://www.insurancenews.com.au/local/insurers-to-revisit-alfred-hit-communities<p>The Insurance Council of Australia will host more consultation sessions in southeast Queensland for people affected by Ex-Tropical Cyclone Alfred...</p>Mon, 10 Nov 2025 03:53:06 GMThttps://www.insurancenews.com.au/local/iag-warns-of-weather-threats-as-warming-blows-through-targetshttps://www.insurancenews.com.au/local/iag-warns-of-weather-threats-as-warming-blows-through-targets<p>IAG warns it is &ldquo;increasingly probable&rdquo; global warming will exceed 2 degrees above pre-industrial levels, bringing more extreme natural hazards to Australia...</p>Mon, 03 Nov 2025 03:59:43 GMThttps://www.insurancenews.com.au/local/queensland-claims-rise-as-humungous-hail-hitshttps://www.insurancenews.com.au/local/queensland-claims-rise-as-humungous-hail-hits<p>Recent severe weather in Queensland has prompted 21,850 claims, the Insurance Council of Australia says...</p>Mon, 03 Nov 2025 03:39:54 GMThttps://www.insurancenews.com.au/local/mga-founder-proposes-strata-commissions-limithttps://www.insurancenews.com.au/local/mga-founder-proposes-strata-commissions-limit<p>MGA executive chairman and founder John George says sharing of insurance commissions between strata managers and brokers does not need banning, but a percentage limit should be enforced to prevent &ldquo;gouging&rdquo;...</p>Mon, 03 Nov 2025 02:29:10 GMThttps://www.insurancenews.com.au/local/court-sends-message-on-crane-safety-after-leg-crushedhttps://www.insurancenews.com.au/local/court-sends-message-on-crane-safety-after-leg-crushed<p>A business breached its duty of care to a truck driver by failing a provide a safe system of work, the NSW Supreme Court has found...</p>Mon, 03 Nov 2025 02:22:48 GMThttps://www.insurancenews.com.au/local/insurer-has-right-to-earnings-info-despite-privacy-concernhttps://www.insurancenews.com.au/local/insurer-has-right-to-earnings-info-despite-privacy-concern<p>A claimant has been told to co-operate with an insurer seeking earnings information, to show his bid for crash injury benefits is valid...</p>Mon, 03 Nov 2025 02:22:09 GMThttps://www.insurancenews.com.au/local/property-value-tool-reveals-5-billion-insurance-gaphttps://www.insurancenews.com.au/local/property-value-tool-reveals-5-billion-insurance-gap<p>A property valuation group says it has found underinsurance totalling more than $5 billion since launching a building cover assessment tool a year ago...</p>Mon, 03 Nov 2025 02:21:48 GMThttps://www.insurancenews.com.au/local/storm-claims-roll-in-as-bureau-website-slammedhttps://www.insurancenews.com.au/local/storm-claims-roll-in-as-bureau-website-slammed<p>Insurers have received more than 3600 claims after strong wind and large hail swept through the Brisbane area last night &ndash; and a revamped Bureau of Meteorology website has been criticised for failing to properly track the storm...</p>Mon, 27 Oct 2025 03:13:08 GMThttps://www.insurancenews.com.au/local/so-much-new-capital-as-commercial-rates-continue-to-easehttps://www.insurancenews.com.au/local/so-much-new-capital-as-commercial-rates-continue-to-ease<p>Commercial pricing is poised to moderate further after rates fell for the seventh straight quarter...</p>Mon, 27 Oct 2025 03:13:00 GMThttps://www.insurancenews.com.au/local/sca-nsw-says-commissions-reform-is-voluntaryhttps://www.insurancenews.com.au/local/sca-nsw-says-commissions-reform-is-voluntary<p>The company supports reform but is concerned about shifting costs to consumers and proposes an alternative approach whereby a fixed fee, paid by insurers and adjusted to the consumer price index, replaces commission-based payments...</p>Mon, 27 Oct 2025 03:12:45 GMThttps://www.insurancenews.com.au/local/strata-cover-remains-affordable-while-house-premiums-soarhttps://www.insurancenews.com.au/local/strata-cover-remains-affordable-while-house-premiums-soar<p>Body corporates &ldquo;collectively gained ground&rdquo; on insurance affordability as strata premiums rose a &ldquo;modest&rdquo; 2.8% to $981 per lot in the year to June, CHU says...</p>Mon, 27 Oct 2025 03:09:51 GMThttps://www.insurancenews.com.au/local/ai-bec-experts-to-offer-free-work-for-vulnerable-consumershttps://www.insurancenews.com.au/local/ai-bec-experts-to-offer-free-work-for-vulnerable-consumers<p>The Association of Insurance Building and Engineering Consultants has launched a program for members to provide pro-bono services for vulnerable people...</p>Mon, 27 Oct 2025 03:09:39 GMThttps://www.insurancenews.com.au/local/flood-threat-slaps-42-billion-disaster-penalty-on-homeshttps://www.insurancenews.com.au/local/flood-threat-slaps-42-billion-disaster-penalty-on-homes<p>Homes in flood zones are collectively worth $42.2 billion less than they would be without the risk, the Climate Council and property data group PropTrack have found...</p>Mon, 27 Oct 2025 03:09:26 GMThttps://www.insurancenews.com.au/local/ica-heads-back-to-flood-hit-inghamhttps://www.insurancenews.com.au/local/ica-heads-back-to-flood-hit-ingham<p>The Insurance Council of Australia will host more consultation sessions in the north Queensland town of Ingham to help customers with flood claims from earlier this year...</p>Mon, 27 Oct 2025 03:09:10 GMT