Daily

Bushfire, hailstorm losses top $2 billion

24 January 2020

Insured losses from bushfires and hailstorms since November have reached $2.16 billion as more claims from the events are lodged...

Read More...

Genworth chooses KPMG partner as its next CEO

24 January 2020

Genworth Mortgage Insurance Australia has appointed KPMG Partner Pauline Blight-Johnston as MD and CEO...

Read More...

IAG cuts earnings outlook as catastrophe costs mount

24 January 2020

IAG today lowered its earnings guidance for this financial year to account partly for the impact of this month’s hailstorm that severely damaged cars and homes in Canberra, Sydney and Melbourne...

Read More...

Climate concern jumps up worry list

23 January 2020

Climate change and increasing weather volatility has surged into third place in an annual Allianz Global Corporate and Specialty survey of business risks facing the Australian insurance industry...

Read More...

Uber driver loses dispute over claim

23 January 2020

An Uber driver whose insurer knocked back a claim because he hadn’t told them he was working for the rideshare company has had his complaint rejected by the Australian Financial Complaints Authority...

Read More...

BEAR trap: insurers face tough conduct regime

23 January 2020

Treasury has released a consultation paper on plans to extend the Banking Executive Accountability Regime (BEAR) to insurers and other regulated financial entities as recommended by the Hayne royal commission...

Read More...

Brokers flag uncertainty over bushfire business interruption cover

22 January 2020

Brokers are calling for a review of business interruption policy wordings following the devastating bushfires that ripped through tourist regions in NSW, Victoria, SA and Queensland...

Read More...

Investments: brokers hold edge over insurers

22 January 2020

Listed brokers are poised to outperform their rivals in the coming months as the rate cycle eases from recent peaks, Macquarie Research says in a new report...

Read More...

Underwriters 'will maintain a tough line until 2021'

22 January 2020

Rising premiums and reduced capacity from underwriters for some business risks are set to remain features of the insurance market until well into next year, Honan Insurance Group says...

Read More...

Hailstorm losses top $300 million, catastrophe declared

21 January 2020

Hailstorms that dented cars and smashed windows in Canberra, Sydney and Melbourne over the past two days have caused losses estimated at $320 million...

Read More...

AIGs exit list grows as Asia Pacific CEO walks

21 January 2020

AIG’s Asia Pacific CEO Sachin Shah has left the company “to pursue other opportunities”, one year after he took on the position in January 2019...

Read More...

Willis Re names new local CEO

21 January 2020

Reinsurance broker Willis Re today announced a reshuffle at the top of its Australian business...

Read More...

Bushfire response: insurers welcome government clean-up pledge

20 January 2020

The NSW and Victorian governments have committed to fund debris removal for all bushfire-affected properties...

Read More...

Acquisitions and appointments: company news wrap-up

20 January 2020

The industry is whirring back into life after the summer break, with acquisitions, appointments and launches announced in recent days...

Read More...

Victoria will expand its PI cladding exemption

20 January 2020

Victoria will next month allow all classes of engineers and other building professionals to temporarily operate with cladding exemptions on their professional indemnity policies...

Read More...

ACCC snubs reinsurance pool in latest northern Australia report

20 December 2019

The Australian Competition and Consumer Commission says a reinsurance pool isn’t the answer to soaring premiums in the north, but the Federal Government could push on regardless...

Read More...

Bushfire losses still rising as NSW prepares for worse

20 December 2019

Insured losses from the NSW and Queensland bushfire catastrophe have run up to at least $182.6 million from 2306 claims lodged, the Insurance Council of Australia says today...

Read More...

Sydney hailstorm cost hits $1.36 billion at anniversary

20 December 2019

The cost of the catastrophic hailstorm which hit Sydney and regional NSW a year ago today has climbed to $1.36 billion as claims continue to reach insurers...

Read More...

Victoria cladding talks may resolve PI gridlock

19 December 2019

Professional indemnity insurance cover without a cladding exclusion may again be offered to building practitioners in Victoria pending the outcome of talks between the insurance industry and the State Government...

Read More...

Monitor seeks views on ESL collection 'nightmare'

19 December 2019

NSW Emergency Services Levy Monitor Allan Fels has launched consultation with “key stakeholders” on the way the controversial levy is calculated and collected...

Read More...