Daily

Gallagher-SRS lawsuit settled out of court

19 July 2019

The legal dispute between six former owners of the SRS underwriting agency and major broker Gallagher has been settled out of court...

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QBE takes $85 million hit from UK rate change

19 July 2019

QBE has warned a smaller-than-expected change in the interest rate used in UK personal injury calculations will have a $US60 million ($85 million) impact on claims liabilities...

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Property, liability rates on the rise

19 July 2019

Catastrophe-exposed property premiums in Australia are rising 10-20% while general liability rates are also increasing strongly in some parts of the market, Willis Towers Watson’s July update says...

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Building crisis: ICA calls for end to ‘blame game’

18 July 2019

The Insurance Council of Australia has today called for swift further action to restore confidence in the troubled building industry, after federal and state ministers pledged to work together to deal with the professional indemnity insurance impasse...

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ASIC to ban insurance ‘product peddlers’

18 July 2019

The Australian Securities and Investments Commission is set to ban unsolicited telephone sales of consumer credit insurance and life cover ahead of wider anti-hawking reforms...

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360 builds construction presence with acquisition

18 July 2019

360 Underwriting Solutions, the agency set up by former senior Allianz executives Denis Morrissey and Chris Lynch, has acquired a 50% stake in online insurance underwriting agency eSentry, adding construction capability to a rapidly expanding portfolio...

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APRA to sharpen focus on insurance, culture

17 July 2019

The Australian Prudential Regulation Authority is set to create an insurance division as part of a proposed overhaul that will also sharpen its focus on governance and cultural issues...

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Fels puts insurers ‘on notice’ over levy collection

17 July 2019

NSW Emergency Services Levy Insurance Monitor Allan Fels has warned insurers he will be watching closely to prevent overcollection of the Emergency Services Levy...

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Allianz ordered to pay ex-manager $1.4 million

17 July 2019

A NSW court has ruled Allianz must pay $1.39 million in damages plus interest to a former manager who alleged he was a victim of bullying and harassment from his immediate supervisor...

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Insurers 'should help pay for flammable cladding fix'

16 July 2019

The Victorian Cladding Taskforce has proposed that insurers chip in to pay for cladding rectification works on affected high-rise buildings...

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Tributes paid to founder of Melbourne brokerage

16 July 2019

Marty Owen, founding director of Malvern East brokerage Philp, Newby & Owen, has died following a long battle with illness...

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IAG buys into car subscription service

16 July 2019

IAG has acquired a majority stake in car subscription and trading platform Carbar after participating with other investors in a $16.8 million capital raising...

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Insurer loses discrimination fight over child sex offender

12 July 2019

NRMA Insurance discriminated against a child sex offender by refusing to insure his gardening business because of his criminal act, the ACT Civil and Administrative Tribunal has ruled...

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Lloyd’s puts a date on its blueprint for the future

12 July 2019

Lloyd’s says its push to “supercharge innovation,” overhaul costs and reimagine its future has received overwhelming support during 10 weeks of global consultation...

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Mansfield Awards: brokers name their claims picks

12 July 2019

More than 2700 brokers have supplied feedback to organisers of the third annual Mansfield Awards for Claims Excellence...

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Opportunity for change: IAG applauds Indigenous recognition plan

11 July 2019

IAG is among the first companies to welcome a Federal Government proposal to hold a referendum within three years on altering the constitution to recognise Australia’s First Nations people...

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Getting tough: ASIC set to move over CCI

11 July 2019

The Australian Securities and Investments Commission is planning to intervene in the consumer credit insurance sector after the release of a damning report today...

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NZ insurers resist lifting disclosure duty for commercial clients

11 July 2019

The fact that most New Zealand businesses are served by insurance brokers has been quoted as a major reason why the country’s existing duty of disclosure law should remain in place for commercial clients...

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New Zealand caught up in PI fallout

10 July 2019

Insurers in New Zealand are imposing tougher conditions for professional indemnity covers in response to the ongoing crisis in Australia and globally, Willis Towers Watson says today in a market update...

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Finity urges caution over add-on insurance changes

10 July 2019

Add-on insurance practices came under heavy fire at the Hayne royal commission, but actuarial consultancy Finity has warned regulators against taking a sweeping approach to rule changes that might only make the situation worse...

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