Daily

'Closer to sustainability': D&O insurers now competing for business

29 June 2022

The loss-making directors’ and officers’ market has finally turned a corner, after rates peaked late last year as insurers adjusted prices in a bid to achieve profitability, broker Aon says in a second quarter update...

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BI decision awaited as High Court pauses for winter recess

29 June 2022

The High Court winter recess is set to extend the timeframe for decisions on whether leave to appeal will be granted on disputes over business interruption cover during the pandemic, as the industry test case process approaches the two-year mark...

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Unwell traveller loses dispute over non-disclosure by representative

29 June 2022

An Australian who suffered a self-harm emergency overseas and was flown home by air ambulance with nursing and financial aid from the government has lost a claim dispute because someone else who bought the travel insurance on her behalf did not disclose that she had pre-existing medical conditions...

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INsight podcast: La Nina gone, but clean-up challenges remain

29 June 2022

The end of the La Nina weather system that contributed to record-breaking floods in NSW and Queensland is the focus of the latest Insurance News podcast...

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Floods become third costliest disaster as losses hit $4.8 billion

28 June 2022

Insured losses from the Queensland and NSW floods have risen to $4.8 billion, making the disaster Australia's third costliest extreme weather event on record, as claim assessments continue to be completed...

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Northern lobby group to pursue wider affordability action

28 June 2022

The Northern Australia Insurance Lobby has changed its name and will take on a national focus as it seeks an expansion of government-backed reinsurance to other risks affected by affordability and availability problems...

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'Unconscionable practices': complaints against ACBF top 1000

28 June 2022

More than 1000 complaints have been lodged against four Aboriginal Community Benefit Fund companies over “unconscionable practices” in relation to sales of funeral expense policies...

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UTV driver denied beach wipeout claim

28 June 2022

A driver whose utility terrain vehicle suffered a total loss after a beach accident will not be covered by insurance after losing a claims dispute...

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Hayne reforms 'distracted insurers from claims management'

24 June 2022

Australian insurers have been urged to “prioritise” improving the claims management aspect of their operations, having spent the last few years focused on complying with reforms stemming from the Hayne royal commission...

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Koba takes out 2022 Finnie award

24 June 2022

Pay-per-kilometre car insurer Koba has won this year’s Excellence in Insurtech category, which is sponsored by IAG Firemark Ventures, at the FinTech Australia Finnie Awards...

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You parked where? Vintage car owner wins theft dispute

24 June 2022

The owner of a 1990 Nissan Skyline will have his theft claim covered by IAG after a dispute ruling determined that he did not mislead the insurer about where he kept his vehicle...

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Booming tech M&A deals require 'unique insurance solutions'

24 June 2022

Brokers should play a greater role in helping tech clients mitigate merger and acquisition deal risk, cyber specialist CFC says...

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RACQ Insurance chief exits after industry's 'challenging year'

23 June 2022

RACQ Group Executive Insurance Tracy Green will leave the business, the insurer confirmed today...

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Rate hardening cycle extended after floods: S&P

23 June 2022

The record-breaking February/March floods, with insured losses of at least $4.3 billion, will prolong the rate hardening cycle as insurers price in the impact of the catastrophe, according to S&P Global Ratings...

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Queensland bans personal injury 'claim farming'

23 June 2022

Queensland parliament today passed new laws forbidding so-called “farming” of personal injury claims after a rise in the targeting of cases such as institutional child abuse and workers’ compensation...

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Motorist claim accepted after pre-existing damage denial ruled out

23 June 2022

A motorist who did not disclose a pre-existing dent on her vehicle will have her third-party fire and theft policy claim covered after an Australian Financial Complaints Authority hearing ruled in her favour...

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Adios La Nina: BOM declares weather event over, for now

22 June 2022

The La Nina weather event that brought Australia’s costliest ever floods has reached an end, with most climate indicators currently neutral, although the Bureau of Meteorology says some of its modelling suggests the ocean-atmosphere phenomenon may form again later this year...

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QBE appeal over historical sex abuse liability dismissed

22 June 2022

The Supreme Court of Western Australia has dismissed an appeal by QBE after a ruling it must indemnify a school council for “significant damages” to a former primary school student who was sexually abused by a teacher...

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Life peak body aims for Q4 start as new code finalised

22 June 2022

Australian life insurers announced today they have commenced work to form a peak body to serve as the “collective voice” of the industry, which until now has been represented by the Financial Services Council...

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INsight podcast: what's next in emerging risks?

22 June 2022

The Swiss Re Sonar report on emerging risks is the focus of the latest Insurance News podcast, as the panel discusses everything from non-fungible tokens to permafrost pathogens...

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