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‘Significant’ business interruption claims possible after Bondi stabbings

Mon, 22 Apr 2024 04:55:16 GMT

Retailers at Sydney’s Bondi Junction Westfield will likely be covered for business interruption after the mall closed for most of last week following a horrific knife attack, experts say, and more than 200 workers' compensation claims have already been lodged...

Broker faces court over misuse of client funds

Mon, 22 Apr 2024 04:55:15 GMT

The Australian Securities and Investments Commission (ASIC) has outlined 18 charges against a Melbourne insurance broker, alleging misuse of millions of dollars of client money at a committal hearing today...

Code review panel seeks input ahead of first report

Mon, 22 Apr 2024 04:55:05 GMT

A consultation paper released as part of the General Insurance Code of Practice review seeks feedback on issues including enforceability and measures to help customers facing financial hardship and vulnerability...

Inquiry heads to more flood-hit towns

Mon, 22 Apr 2024 04:54:40 GMT

The House of Representatives Standing Committee on Economics will hold hearings in several NSW communities next month as it continues its inquiry into insurers’ responses to the 2022 floods...

Live music industry pleads for state intervention on cover

Mon, 22 Apr 2024 04:54:16 GMT

Music Victoria has called for urgent action on public liability insurance problems that are causing venues to close despite steps to reduce risk and encourage more underwriters to provide cover...

Consumer lobby calls for principles over ‘intricate definitions’

Mon, 22 Apr 2024 04:53:54 GMT

The Australian Consumers Insurance Lobby says a focus on “overarching principles rather than intricate definitions” is important for policy clarity, as a Treasury consultation considers standardising more natural hazard terms...

Bureau monitors La Nina signs as ocean conditions return to neutral

Mon, 22 Apr 2024 04:53:39 GMT

The Bureau of Meteorology says El Nino has ended and Pacific Ocean conditions have returned to neutral, and it has urged caution around predictions of La Nina – associated with increased flood risk – developing later this year...

Call for independent panel to lead standard terms reforms

Mon, 15 Apr 2024 04:42:12 GMT

Consumer groups have called on the Federal Government to establish an independent panel to lead reforms on standard terms and an effective standard cover regime...

Flood probe eyes stronger regulation after Lismore ‘horror stories’

Mon, 15 Apr 2024 04:40:34 GMT

Evidence presented in Lismore last week around insurance claims handling after the 2022 floods was “very concerning” and revealed “things we need to strengthen regulatory arrangements around”, federal MP Daniel Mulino says...

NSW storm claims rise to 13,600

Mon, 15 Apr 2024 04:40:11 GMT

The Insurance Council of Australia has provided a claims update on the post-Easter storm in NSW...

In Insurance News magazine this month

Mon, 15 Apr 2024 04:39:34 GMT

There is growing concern about the dangers of lithium-ion battery fires, and the impact they could have on insurance. The batteries may be powering a host of new technologies, but our Insurance News magazine cover story explores their explosive downside...

ACIL urges industry to back Queensland stamp duty campaign

Mon, 15 Apr 2024 04:10:21 GMT

The Australian Consumers Insurance Lobby has called on the industry to support its Queensland pre-election campaign pressing for stamp duty reforms...

Minister reiterates commission position after bill drafting error

Mon, 08 Apr 2024 04:42:38 GMT

The Albanese Government is working to resolve “as soon as possible” wordings in a bill before the House of Representatives that could mean the end of insurance commissions for brokers that offer general advice...

NSW declares disaster after weekend floods

Mon, 08 Apr 2024 04:33:43 GMT

Councils in NSW have been granted disaster assistance after floods damaged more than 60 homes in Greater Sydney and emergency services responded to more than 5000 incidents at the weekend...

AFCA flags ‘new normal’ as complaints rise 20%

Mon, 08 Apr 2024 04:33:24 GMT

The Australian Financial Complaints Authority says the number of general insurance complaints soared 20% to 28,698 last year, and there’s no sign of the trend stopping...

MPs to examine live music scene struggles

Mon, 08 Apr 2024 04:32:44 GMT

Insurance will be among the critical issues examined in a federal parliamentary inquiry into challenges faced by the country’s live music scene...

Lobby demands stamp duty overhaul in run-up to Queensland election

Mon, 08 Apr 2024 04:31:54 GMT

The Australian Consumers Insurance Lobby is pressing Queensland politicians to commit to stamp duty reforms ahead of this year’s state election...

Aon eyes ‘strategic approach’ to risk as weather losses mount

Mon, 08 Apr 2024 04:31:13 GMT

Aon says insurers and government must consider innovative ways to address Australia’s high exposure to weather dangers...

Strata lawyers back Trowbridge-recommended reforms

Mon, 25 Mar 2024 02:18:03 GMT

The Australian College of Strata Lawyers says it supports the introduction of reforms recommended by consultant John Trowbridge in his review of practices in the sector...

Insurers back bushfire resilience app with premium discounts

Mon, 25 Mar 2024 02:15:51 GMT

Home policyholders with Suncorp and NRMA Insurance will be offered premium discounts if they use a federally funded bushfire resilience app to reduce their property’s risk exposure...