Winds of change: insurers think again on reinsurance pool 19 November 2019 Did the insurance industry really agree on Friday to help investigate a government-funded cyclone reinsurance pool – something it’s been fighting against for years? Read More...
Losses mount as Queensland hailstorm added to catastrophes list 19 November 2019 Insured losses from the Sunshine Coast hailstorm have risen to at least $60 million from 7500 claims, the Insurance Council of Australia says in an update today... Read More...
CommInsure pleads guilty to hawking, refunds $12 million 19 November 2019 CommInsure pleaded guilty today in a Sydney court to 87 counts of hawking and is refunding more than $12 million to customers who were incorrectly sold life insurance products... Read More...
Insurers agree to investigate cyclone reinsurance pool 18 November 2019 The feasibility of a government-backed cyclone reinsurance pool will be examined as a possible measure to bring down premiums in northern Australia... Read More...
PSC buys another UK Lloyd’s broker 18 November 2019 PSC Insurance Group will pay £3.4 million for Carroll Insurance Group, a UK-based Lloyd’s broker that specialises in bespoke insurance solutions... Read More...
PI dilemma leads to call for delay in NSW building reforms 18 November 2019 The NSW Government has been urged to put on hold plans requiring building practitioners to hold full professional indemnity cover until it has engaged with the insurance industry... Read More...
SIS Act amendments to fix reform contradictions 18 November 2019 The Federal Government is planning to amend insurance in super rules in the Superannuation Industry Act to fix some of the contradictions created by the insurance in super reforms... Read More...
UAC Chairman decides not to stand for re-election 18 November 2019 Underwriting Agencies Council Chairman Lyndon Turner will not stand for re-election at the group’s December AGM after being a board member since 2011... Read More...
Insurance to buck slowing global economy 18 November 2019 The insurance market will be propped up in coming years by very strong demand in China and other parts of emerging Asia, helping the industry buck a trend for weakening global economic growth, Swiss Re says... Read More...
State of paralysis: the heavy price of inaction as PI nightmare drags on 18 November 2019 Like many others before it, the latest report into what ails the building industry delivered little in the way of new insights into a shambolic state of affairs... Read More...