Daily
Steadfast expects more premium rises
29 August 2024
Steadfast Group says premium rates will continue to rise this financial year as insurers put through increases to address inflationary pressures that are particularly affecting property underwriting...
Marsh flags ‘significant improvement’ in market competition
29 August 2024
Marsh says improving market conditions should continue for insurance buyers – so long as major catastrophe losses are avoided...
Regulator targets coverage gap in strategic shift
29 August 2024
The Australian Prudential Regulation Authority plans to channel more resources into tackling the country’s worsening home insurance protection gap...
AFCA scrubs policy cancellation after car battery fires
29 August 2024
An electric vehicle conversion business that had a fire damage claim denied and its policy cancelled over non-disclosure of imported batteries has won a bid to overturn the decision...
Cyberattackers target underwriting agency
28 August 2024
An Australian underwriting agency has suffered a “cyber incident”, with reports suggesting stolen data is being offered for sale on the dark web...
Levees, storm shelters feature in $390 million disaster funding round
28 August 2024
Another round of spending has been allocated under the federal government’s five-year $1 billion Disaster Ready Fund...
More training, oversight needed for experts: code committee
28 August 2024
Insurers must improve training and monitoring of external experts and ensure they only provide factual evidence based on their areas of knowledge, the Code Governance Committee says following an inquiry...
INsight podcast: some home truths on affordability
28 August 2024
Worsening home insurance affordability challenges are the main discussion point on the latest Insurance News podcast...
‘Can’t be ignored’: coastal flood warning on 500,000 properties
27 August 2024
The risk of coastal flooding in “any given year” is 1% for 500,000 properties in Australia – equal to a 25% risk of being inundated over the course of a standard mortgage, according to a new report from Aon and Monash University...
Cash settlement failings spark call for more regulation
27 August 2024
Cash settlements have become a “problematic norm” in response to home claims following disasters and a suite of reforms is needed, a Financial Counselling Victoria report says...
‘Cornerstone’ insurance arm drives Johns Lyng earnings
27 August 2024
Johns Lyng Group says it performed strongly in 2023-24, supported by its core insurance building and restoration services division...
Insurer forced to pay compensation over battery fire clean-up
27 August 2024
The Australian Financial Complaints Authority has told RACQ Insurance to pay a homeowner couple compensation for stress-related damages caused by its failure to adequately investigate contamination in a fire-damaged kitchenette...
Hall, Enthoven among winners at ANZIIF awards night
23 August 2024
Leading professionals and companies were recognised at the annual Australian and New Zealand Institute of Insurance and Finance Awards last night...
PSC reports earnings rise ahead of takeover vote
23 August 2024
PSC Insurance Group has reported an 11% rise in underlying profit, in what is likely to be its final result as a listed Australian company before becoming part of UK-based Ardonagh...
Cafe wins BI dispute after landslide closes road
23 August 2024
A cafe that lost earnings when a landslide closed the main road to the Falls Creek alpine resort in Victoria has won a business interruption cover dispute...
Ex-mine worker secures $3 million black lung payout
23 August 2024
A former coal mine worker whose life has been “destroyed” by black lung has won more than $3 million in damages in a landmark decision by the NSW Dust Diseases Tribunal...
Date set for PSC shareholder vote on Ardonagh takeover
22 August 2024
PSC Insurance Group shareholders will vote on the $2.3 billion takeover offer from UK-based Ardonagh on September 26, potentially allowing the deal to take effect in October...
Regulator’s strategic plan targets industry on claims, products
22 August 2024
The Australian Securities and Investments Commission says it will crack down on “harmful” insurance products and claims handling responses this financial year...
Auto & General to underwrite Coles insurance
22 August 2024
Auto & General has entered into a 10-year contract to be the underwriter for Coles car, home and landlord insurance...
Insurer avoids payout over holiday hip injury
22 August 2024
A holidaymaker who suffered a dislocated hip will not have her medical bills covered after the dispute authority found the injury stemmed from a pre-existing condition...