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Agencies, brokers in ‘strong position’ amid growing complexity

Mon, 13 May 2024 04:10:31 GMT

Brokers and underwriting agencies have momentum on their side as demand for specialist risk services grow, according to Macquarie Bank...

Disaster resilience in spotlight ahead of federal budget

Mon, 13 May 2024 04:10:18 GMT

Insurers will be seeking commitments to boost disaster resilience and improve cover affordability in tomorrow night’s federal budget...

Bondi Junction workers’ comp claims top 300

Mon, 13 May 2024 04:08:20 GMT

More workers’ compensation claims have been lodged with NSW state insurer icare nearly a month after the Bondi Junction Westfield mall stabbings...

Call for team approach as more risk falls on companies, individuals

Mon, 13 May 2024 04:07:51 GMT

Accessible, affordable insurance is “not something any business or individual can take for granted”, Zurich’s Geoff Summerhayes has warned...

Climate risks 'front of mind' for NZ home buyers

Mon, 13 May 2024 04:07:25 GMT

Natural hazard risk is the second most important consideration for New Zealanders when looking to buy or rent a home, new research from IAG has revealed...

Code committee targets claims handling laggards

Mon, 06 May 2024 04:27:52 GMT

The General Insurance Code Governance Committee says failure to update policyholders on the progress of claims was the top reported breach last financial year and it is engaging with subscribers that have fallen short of requirements...

Mitigation recognition clarity on table in code review

Mon, 06 May 2024 04:27:27 GMT

The independent panel reviewing the general insurance code of practice is considering whether more clarity on mitigation measures and impacts on premiums is needed amid affordability concerns...

Failure of imagination is key business risk

Mon, 06 May 2024 04:27:13 GMT

Former QBE Deputy Chair John M Green says insurance industry professionals should read and watch drama to ignite their imaginations and better foresee risk...

Millions of cash-strapped drivers dodge car maintenance

Mon, 06 May 2024 04:26:45 GMT

Australia’s roads are crowded with cars that would struggle to pass a roadworthiness inspection as drivers delay maintenance, comparison site Finder says...

Commercial rate cycle on buyers’ side after first decline since 2016

Mon, 29 Apr 2024 04:00:25 GMT

Broker Marsh expects market conditions in Australia to favour commercial insurance buyers after rates fell for the first time since 2016...

Dispute referee to consult on disclosure guide

Mon, 29 Apr 2024 03:33:14 GMT

The Australian Financial Complaints Authority aims to launch a new approaches document this year to give greater clarity around disclosure disputes...

Smash repair code committee eyes incorporation

Mon, 29 Apr 2024 03:32:53 GMT

The Motor Vehicle Insurance and Repair Industry Code Administration Committee is considering becoming an incorporated entity after a recommendation it should adopt an association, company or other corporate structure...

Consumer group calls for increased cyclone pool cross-subsidisation

Mon, 29 Apr 2024 03:32:29 GMT

The Australian Consumers Insurance Lobby says changes to cyclone pool pricing modelling should be made before a scheduled review, to deliver improved savings to regions paying the highest premiums...

‘Cold, angry, abandoned’: Victorian flood probe details victims' anger

Mon, 29 Apr 2024 03:31:25 GMT

An interim report from the Victorian Government’s inquiry into the October 2022 floods says insurance claim handling delays and inadequate coverage prolong hardship and hinder recovery after natural disasters...

Study highlights danger of distracted drivers

Mon, 29 Apr 2024 03:20:49 GMT

IAG has warned drivers after new research found more than half of New Zealanders admitted to being distracted while at the wheel...

‘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...