Roofers caught in ACCC hailstorm enforcement 11 December 2019 The Australian Competition and Consumer Commission has taken action against two Sydney roofers over Facebook messages about raising prices after tennis-ball sized hailstorms caused widespread property damage last year... Read More...
Industry set for more growth: S&P 11 December 2019 Australia’s general insurance industry is on track to perform solidly over the next few years, S&P says in a new report issued today, citing hardening rates and an all-out efficiency drive as key factors that will support earnings growth... Read More...
Catastrophes send insurance profits plummeting 11 December 2019 Insurance industry profits fell 12% to $4.4 billion last financial year as catastrophes such as the Sydney hailstorms and the Townsville floods increased natural hazard costs, a KPMG annual review shows... Read More...
NSW braces for heatwave as fires rage on 9 December 2019 Several parts of NSW face very high fire danger today and tomorrow, the NSW Rural Fire Service has warned, as crews try to contain dozens of blazes in the state... Read More...
AUB drops plan to buy Coverforce 9 December 2019 AUB has abandoned its planned acquisition of Coverforce Holdings after failing to gain access to key documents required to finalise the proposed $150-200 million deal... Read More...
Victoria to put workers’ comp outsourcing under review 9 December 2019 The Victorian Government will review the outsourcing of workers’ compensation complex claims to agents that include insurers after an Ombudsman report said the current system is delivering some results that are unjust and “downright immoral”... Read More...
Regulatory scrutiny is life insurers’ highest hurdle: EY 9 December 2019 More stringent regulation is the top challenge faced by life insurers in Australia and scrutiny of commissions here may limit investment in technology, a new report from EY says... Read More...
NIBA seeks 2020 broker award nominations 9 December 2019 The National Insurance Brokers Association is inviting nominations for its 2020 Broker of the Year and Young Professional Broker of the Year awards until February 29... Read More...
Resilient insurers adapting to volatile economy: Deloitte 9 December 2019 The insurance industry remains resilient, is continuing to generate growth around the world and maintaining overall profitability despite turbulence in the global economy, a new study by Deloitte says... Read More...
Workers’ comp: searching for Australia’s next top model 9 December 2019 Victoria is set to become the latest state to begin a workers’ compensation review as the nation continues to grapple with a mish-mash of models, different levels of private and public participation and questions over their performance... Read More...