IAG set for a 9-month transition as Harmer bows out 8 April 2020 IAG MD and CEO Peter Harmer says his decision to announce now that he’s leaving the group before the end of the year will allow a “flexible nine-month transition during which time my successor will be appointed”... Read More...
Zurich unveils SME support, Hollard works on ‘unique response’ 8 April 2020 Zurich has published a series of measures aimed at supporting coronavirus-affected clients and brokers, while Hollard says it is developing its “own unique response” in close consultation with intermediaries... Read More...
Fitch lowers Suncorp’s outlook to negative 8 April 2020 Fitch has lowered its outlook on Suncorp to negative after reviewing the insurer’s ratings in light of financial uncertainty and increased risks to capital and earnings from the COVID-19 pandemic... Read More...
APRA suspends new insurance licences, advises prudence 8 April 2020 Applicants seeking an Australian insurance licence will have to wait at least six months, with the regulator deciding to suspend issuing new permits due to the economic turmoil created by the COVID-19 pandemic... Read More...
A better way? Broking leader criticises lack of consultation on SME support 6 April 2020 Insurer measures to support virus-affected SME clients by deferring premium payments are "well-intentioned" but not the best solution, AUB Group CEO and MD Mike Emmett says... Read More...
QBE eases trade credit cover cutback 6 April 2020 A backlash from brokers and customers has prompted QBE to soften its plan to cut back its trade credit protection cover in response to the coronavirus crisis... Read More...
COVID-19 disruption should not delay Hayne reforms: Finity 6 April 2020 Actuarial firm Finity has advised insurers against putting on hold the implementation of reform measures pushed forth by the Hayne royal commission during the coronavirus outbreak... Read More...
Disagreement over disclosure costs TAL $365,400 6 April 2020 The Australian Financial Complaints Authority has found TAL Life has no grounds to reject a claim for critical illness benefit lodged by a policyholder who had aorta repair and replacement surgery in November 2016... Read More...
NIBA cancels convention, continues awards 6 April 2020 The National Insurance Brokers Association has cancelled its convention in October due to the coronavirus but plans to continue with its annual awards program... Read More...
How US and UK insurers are helping customers 6 April 2020 Insurance companies and their representative organisations are working out ways to help their customers as communities around the world begin to experience the challenges of prolonged coronavirus control initiatives... Read More...
Aid to SMEs: it's not too late for some alternative thinking 6 April 2020 The insurance response to the coronavirus pandemic, which played out over the past week, was supposed to be an industry-wide solution to keep SME businesses insured and engaged. But it ended up being a solution that angered brokers and caused a great deal of debate... Read More...