Daily
ICA ramps up resilience call ahead of election
22 February 2022
The Insurance Council of Australia has launched a national campaign ahead of the federal election advocating greater government spending to reduce natural catastrophe impacts and wider reforms to drive resilience...
AUB bullish after first-half earnings jump
22 February 2022
AUB Group today adjusted upwards its earnings guidance for this financial year, buoyed by a sharp first-half showing from its Australia broking and agencies businesses as well as contributions from BizCover, an online platform in which it owns a minority stake...
AFCA rules $227,000 jewellery claim was fraud
22 February 2022
An unemployed Suncorp policyholder seeking a payout of almost a quarter of a million dollars for the theft of 74 items, mostly jewellery, has lost an insurance dispute after the claim was deemed fraudulent...
QBE swings to profit as premiums surge
18 February 2022
QBE has reported a $US750 million net profit compared with a $US1.52 billion loss in the previous year after strong pricing and a surge in gross written premium offset catastrophe claims impacts...
Labor would ensure pool put in place if elected: MP
18 February 2022
Labor would ensure that the cyclone reinsurance pool is put in place if elected this year, a Member of Parliament has said during debate on the bill, while the Opposition is also putting pressure on the Morrison Government to release modelling behind the scheme...
ICA says mitigation message is getting through to politicians
18 February 2022
The Insurance Council of Australia says there has been a “discernible shift” in politicians' attitudes towards investing in natural disaster mitigation measures...
'Applied incorrectly': insurer loses dispute over submerged boat exclusion
18 February 2022
The owners of a boat worth almost half a million dollars have won a $70,000 payout, compensation and reimbursement of legal fees in a claim dispute after the vessel’s engine compartment and sleeping cabin flooded...
BI test case appeal decision set for Monday
17 February 2022
The Full Court is scheduled to deliver an appeals decision on the Insurance Council of Australia second covid business interruption test case on Monday morning...
Former insurance company employee charged with $700,000 fraud
17 February 2022
The ex-employee of a Sydney-based insurance company has been charged with allegedly obtaining more than $730,000 in fraudulent payments, NSW Police says...
Construction PI rates may be 'close to peak'
17 February 2022
Professional indemnity insurance rates in the Australian construction market are probably nearing their peak after insurers raised premiums sharply in the last few years in response to deteriorating conditions, according to broker WTW...
Man who missed insurer letters while in jail loses dispute
17 February 2022
A man seeking a $600,000 pay out after learning his pension payments stopped when he was in prison, and so a direct debit for his insurance premium payment was not paid, has lost a claim dispute...
Industry warned claims inflation will last another year
16 February 2022
Pandemic-fuelled claims inflation is a “major issue” for insurers in Australia, insurance consulting firm Xceedance says, predicting it will probably be another 12 months before the industry sees some relief - and that's provided the economy is not hit with another disruptive covid variant outbreak...
Hyundai owner advised to go elsewhere in dispute over value
16 February 2022
The owner of a 2010 Hyundai i30 who wanted an insurer to raise its maximum value by almost $2000 has been told to seek cover from a different provider if they’re not happy...
'Just beginning': Insurtech Australia panelists say sector has only scratched surface
16 February 2022
Australia's insurtech industry is “still nascent” with huge potential for growth in coming years, presenters at the inaugural InsurtechLIVE conference in Sydney said...
INsight podcast: insurer results and pool progress
16 February 2022
The impact of natural catastrophes on insurer results and the progress of the cyclone reinsurance pool are the main topics on the latest Insurance News podcast...
icare tenders for claims management services
15 February 2022
NSW state-owned icare has launched a tender for the procurement of claims management services in the nominal insurer workers’ compensation scheme...
BI claim numbers low as test case outcome awaited
15 February 2022
Pandemic-related business interruption claim numbers have remained well below early expectations as the outcome of the second industry test case is awaited, the National Insurance Brokers Association convention has heard...
Soil expansion caused house cracking, not quake: AFCA
15 February 2022
Internal cracks that appeared in an NT property, including damage to the floor tiles and cornices, were not caused by an earthquake but the result of foundation heave, soil moisture changes and lack of expansion joints, the Australian Financial Complaints Authority ruled in a claims dispute...
IAG ups investment in car subscription start-up
15 February 2022
IAG, already a majority shareholder in Carbar, has further increased its investment in the Australian car subscription company...
IAG confident over business 'reset' despite first-half earnings slump
11 February 2022
IAG today reported insurance profit of $282 million for the six months to December, down 57.7% from the corresponding period in 2020, but CEO and MD Nick Hawkins says the business is on the right track under the “reset” program he has implemented...