Daily

Allianz plans Sydney memorial service for Donna Walker

20 September 2019

Allianz will hold a special memorial service on Monday for Chief Technical Officer Donna Walker, who died while holidaying in East Africa earlier this month...

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Rise of the dash cam: increasing numbers use footage for claims

20 September 2019

The number of drivers using dash cam footage to help with insurance claims has soared by 92% over the last two years, according to a new survey by Allianz Australia...

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Industry is ready to Dive In again

20 September 2019

The annual Lloyd’s global Dive In Festival is set to mark its fifth year next week with events in Australia and around the world to promote greater inclusion and diversity in the industry...

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Force insurers to cover northern risks, says MP

19 September 2019

Queensland MP George Christensen has supported linking insurance licensing with an obligation to provide cover in northern Australia, after continuing to hear complaints about lack of availability and soaring premiums...

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AFCA urges blanket ban on unsolicited sales

19 September 2019

Unsolicited sales of all financial products should be banned, according to the Australian Financial Complaints Authority...

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Hayne reform sparks 'full rethink' of insurers' pay systems

19 September 2019

Looming reforms to remuneration practices mean insurers would need a “full rethink” of how performance-based incentives are awarded, according to actuarial consultancy Finity...

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Lloyd's first-half profit jumps after investments boost

18 September 2019

Lloyd’s today revealed its first-half profit before tax has jumped to £2.3 billion ($4.2 billion) from £600 million ($1.1 billion) in the year-earlier period, after the result was boosted by an improved investment result...

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Don't fall behind: EY predicts 'next wave' insurance scenarios

18 September 2019

Insurers risk being left behind if they fail to adapt to changes to traditional business models brought about by disruptive technology and shifting customer demands over the next decade, EY warns...

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VBA takes tough line on engineer linked to fire-hit tower

18 September 2019

The Victorian Building Authority is fighting a fire engineer’s attempt to stop a disciplinary process against him after he sought an injunction from the Supreme Court of Victoria...

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Court takes a stand over replacement vehicles

17 September 2019

Drivers who accept vehicles from credit hire companies after car accidents could be left thousands of dollars out of pocket following a series of NSW Supreme Court decisions...

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Dam right: insurers back higher Warragamba wall

17 September 2019

Insurers believe community concerns about raising the height of the Warragamba Dam wall must be balanced against the “paramount importance” of reducing the risk of flood and saving lives and property in Western Sydney...

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Roma gets a flood risk tick after mitigation works

17 September 2019

The Queensland Government has announced a downgrade in the flood risk for more than 500 properties in the southwestern town of Roma following the completion of an $8.3 million mitigation project...

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Bolt from the Blue: AIMS survey shows disruption in action

13 September 2019

Disruption is starting to have a material impact on the shape of Australia’s general insurance industry, with the success of new entrant Blue Zebra the perfect example, according to the latest AIMS member survey of insurers...

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ICA says draft product rule regulations fall short

13 September 2019

The Insurance Council of Australia will be pushing for further clarity in draft regulations for financial product design and distribution obligations as concerns over the controversial new regime remain...

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Northern Australia: ICA rejects ‘quick solution’ to ease premium woes

13 September 2019

Disaster risk mitigation is the answer to the north’s long-running premium affordability problem, the Insurance Council of Australia says, as it warns against resorting to “quick solutions” that could backfire...

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Cricket star Starc stands his ground after Lloyd’s denies claim

12 September 2019

Australian fast bowler Mitchell Starc insists he is owed $1.5 million under a total disablement policy issued by a Lloyd’s syndicate...

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Latest Climate Index readings affirm extreme weather trend

12 September 2019

Last autumn produced the second-highest number of hot days for that season, according to the Actuaries Institute...

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Munich Re offloads Australian long-tail lines

12 September 2019

A subsidiary of US-listed and Bermuda-based insurance group Enstar is set to acquire $228 million worth of long-tail insurance portfolios in Australia from Munich Re-owned entities...

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Enforced four-day pause proposed for add-on sales

11 September 2019

The Federal Government has proposed an enforced four-day pause in the add-on insurance sales process as part of sweeping reforms to prevent consumers buying products they don’t need in high-pressure situations...

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Treasury consults on new ASIC powers

11 September 2019

Treasury today released for public consultation its draft legislation to arm the Australian Securities and Investments Commission with more powers to supervise the financial services sector...

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