26 February 2024
The federal parliamentary inquiry into insurers’ handling of record flooding two years ago has put the spotlight on the code of practice review launched in November, and the effectiveness and enforceability of the document...
19 February 2024
Cash settlements weren’t given top billing in the terms of reference for the parliamentary inquiry into insurers’ handling of flood claims but they have proved a lightning rod for criticism during hearings in Canberra...
12 February 2024
It was one of the most absorbing exchanges of the Federal Government’s flood inquiry hearings so far. Independent MP Andrew Gee, who represents flooded constituents in Eugowra and other NSW communities, wanted Insurance Council of Australia CEO Andrew Hall to admit he was “embarrassed and ashamed”...
05 February 2024
Cost of living is considered the number one concern for many Australians, and it will be a key focus for the Federal Government as it prepares its May budget...
18 December 2023
The insurance industry never stands still, and while the year hasn’t been as turbulent as others in recent times, the team of journalists at insuranceNEWS.com.au has written about 3000 news articles during 2023...
11 December 2023
General insurers are set to provide “simple advice on less complex matters” under a new model, as outlined in the Albanese Government’s ambitious bid to reform financial advice regulations...
04 December 2023
A few years back, IAG’s Intermediated Insurance Australia division was struggling by any measure, a self-proclaimed underperformer that recorded a more than $100 million loss in FY22...
27 November 2023
Societies and economies across the world have begun, to varying degrees, and with varying success, the process of energy transition...
20 November 2023
The NSW Government’s surprise announcement that it intends to ditch the inequitable Emergency Services Levy was an early Christmas present for an insurance industry battling increasing affordability woes...
13 November 2023
The November 1 changes on remuneration disclosure to the National Insurance Brokers Association code of practice were intended to draw a line under a debate that’s raged for more than a year...
06 November 2023
Australia’s $6 billion flood catastrophe last year devastated many communities, and it may yet have a significant impact on how home insurance policies operate in future...
30 October 2023
A battle to stop building housing in the highest risk locations on Australia’s floodplains appears to be finally gaining traction with a NSW Government decision to prevent some proposed development in the Hawkesbury-Nepean Valley west of Sydney...
23 October 2023
The 2023 Insurance News Wellbeing Survey received thousands of frank and insightful opinions from brokers, underwriters, claims experts and other professionals who make up the sector...
16 October 2023
Last week’s Insurance Council of Australia Annual Conference was held a year after flood waters inundated towns in northern Victoria in a continuation of natural disasters triggered as torrential rainfall fell across eastern states during a third consecutive La Nina...
09 October 2023
It’s a familiar scenario for people buying personal insurance online – your home or motor renewal comes through, and the premium’s up 10% or even 20%...
02 October 2023
There’s nothing like an overseas trip to bring people closer together, as apparently evidenced by the delegation of insurance leaders and Assistant Treasurer Stephen Jones, which has just returned from Europe...
25 September 2023
The annual Radar report shows householders was the only class to make a loss last financial year, a reversal in investment results drove overall profits higher and affordability pressures are a key issue for the industry...
18 September 2023
Frustrating and gruelling negotiations leading into last January’s reinsurance renewals remain fresh in the memory as the industry prepares for upcoming discussions, with early expectations suggesting further price increases but an overall smoother process...
11 September 2023
The end of the era of “financial repression” will transform the general insurance industry as it achieves higher returns from investments, but further market hardening is still expected, a global report from Swiss Re warns...
04 September 2023
Australian home and business owners – and their brokers – should be well aware of the potential bushfire threat this spring and summer, but a new report from an insurer shows misunderstandings about the risks are still rife...