Daily

Berkley, GT Insurance win NIBA awards

27 October 2020

Berkley Insurance Australia has won the National Insurance Brokers Association General Insurance Company of the Year award, while transport specialist GT Insurance has been named Underwriting Agency of the Year...

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Tourism sector worst hit by hard market, submissions reveal

27 October 2020

Tourism businesses including caravan parks, hotels and boat operators have issued stark warnings on insurance availability during the current hard market in submissions to an inquiry...

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NIBA backs diploma requirement in ASIC submission

27 October 2020

The National Insurance Brokers Association has proposed to the Australian Securities and Investments Commission that industry qualification standards should be changed to include a diploma requirement...

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Insurers score poorly in customer service survey

27 October 2020

Insurers in Australia have their work cut out when it comes to online customer engagement, according to a recent survey...

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IAG criticised over pay deal at shareholder meeting

23 October 2020

IAG shareholders, who are also employees, hit out at the insurer’s proposed pay deal as simmering tensions over remuneration conditions spilled into the open at today’s virtual annual general meeting...

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QBE appoints Richard Pryce interim CEO

23 October 2020

QBE has appointed Richard Pryce as interim Group CEO while the search continues for a permanent replacement for Pat Regan, who departed suddenly in September following an investigation into his workplace communications...

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ASIC Chairman steps aside as expenses probe launched

23 October 2020

Australian Securities and Investments Commission Chairman James Shipton will “stand aside” pending the outcome of a review in relation to relocation expenses paid to him and Deputy Chairman Daniel Crennan...

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Insurance House announces key acquisition

23 October 2020

Insurance House has invested in Commercial Insurance Group, based in the south-eastern Sydney suburb of Rockdale as it grows its operations in the region...

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Suncorp calls for open borders, resets business

22 October 2020

Suncorp has pressed the case for the reopening of borders to help the economy recover from the impact of the COVID-19 outbreak and says its own program of work to reset its business post-pandemic is well underway...

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Look beyond reinsurance to mitigate weather risk, insurers told

22 October 2020

S&P Global Ratings has urged Australian insurers to consider other measures such as government-backed schemes to cope with what is expected to be a worsening claims burden from weather-related disasters as climate change intensifies...

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Axa XL pulls out of London management liability market

22 October 2020

Axa XL has announced it will no longer write management liability or financial institutions business in the London market due to persistent profitability concerns, but the decision does not affect Australia...

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Holiday rental landlord loses dispute over COVID losses

22 October 2020

A man has lost a dispute with Suncorp after he lodged a claim for lost rental income from cancelled holiday bookings due to COVID-19 pandemic restrictions...

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Businesses hit by 'insurance stress' as market hardens

21 October 2020

Australian businesses are increasingly suffering “insurance stress” caused by price spikes, reduced coverage or an inability to secure insurance at all, a new survey has found...

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Opal Tower builder gains insurance win

21 October 2020

The builder of Sydney’s Opal Tower has won Federal Court action taken against Liberty Mutual and QBE over insurance claim denials for construction problems at the high-profile development...

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Online form confusion sees asbestos roof claim upheld

21 October 2020

Hollard has lost a dispute over a roof damage claim after it was found the online insurance application process didn’t make clear the presence of asbestos needed to be disclosed...

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ICA creates Indigenous forum, seeks dam plan feedback

21 October 2020

Insurers are facilitating greater Indigenous engagement with the creation of a new liaison forum and a round of consultation to understand how a proposal to raise the wall of Sydney’s Warragamba dam by 14 metres could impact upstream areas and cultural heritage sites...

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‘Out of excuses’: NIBA slammed for code review delay

20 October 2020

The National Insurance Brokers Association has received sharp criticism for significant hold-ups in reviewing its Insurance Brokers Code of Practice...

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Insurers told to have BI court result plan

20 October 2020

Insurers should have a plan for responding to the outcome of the business interruption test case heard earlier this month, the Australian Securities and Investments Commission has told company directors...

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ASIC targets UCT reform readiness

20 October 2020

The Australian Securities and Investments Commission is stepping up regulatory preparations for the start of laws extending consumer and small business unfair contract term protections to insurance...

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New report proposes changes to advice definitions

20 October 2020

The Financial Services Council has today released a report setting out suggestions on ways to improve the provision of advice to consumers, some of which could also impact general insurance...

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