Daily
Brokers warned stakes high on payment transparency
11 February 2022
Transparent disclosure of commissions, fees and charges is critical to trust and confidence in the industry and in averting heavy-handed government action, consultant John Trowbridge told the National Insurance Brokers Association convention today...
AIG's 'Adani issues' are about staff security
11 February 2022
The recruitment of an office administrator with a “security co-ordination” role for AIG’s Brisbane office does not mean the giant US-based insurer is involved with the controversial Adani coal mine...
Man with 14 criminal offences loses house fire claim dispute
11 February 2022
A man who admitted to his insurer “I spat on a copper” while failing to disclose 13 other criminal offences relating to assault, property damage and drugs has been unsuccessful in efforts to have a claim for fire damage to his property accepted...
Cyclone pool bill referred to Senate committee
10 February 2022
The cyclone reinsurance pool bill was today referred to the Senate Economics Legislation Committee, which is due to report back by March 24, as the Federal Government faces a tight timetable to meet a planned July start for the scheme...
ARPC appoints Chief Claims and Customer Officer
10 February 2022
The Australian Reinsurance Pool Corporation has appointed Jason Flanagan as Chief Claims and Customer Officer as it prepares to expand its responsibilities to cover cyclone risks as well as terrorism...
Reputation risk-ready? Most execs 'not confident'
10 February 2022
A WTW survey of 500 executives from countries including Australia found “considerable lack of confidence” in respondents' own organisations’ reputational risk readiness...
Natural disaster inquiry: ombudsman launches feedback tour
10 February 2022
Australian Small Business and Family Enterprise Ombudsman Bruce Billson will visit natural disaster-hit areas around the country, holding feedback sessions with affected communities as part of his inquiry to help the sector manage future catastrophes...
ARPC locks in $3.5 billion terrorism retrocession program
09 February 2022
The Australian Reinsurance Pool Corporation has renewed its $3.475 billion terrorism retrocession program after meeting with more than 50 reinsurers online in key global markets to negotiate the cover...
Fitting baby into car seat 'contributed to cause of collision', AFCA finds
09 February 2022
A NSW parent whose car door was bent backwards while putting her baby in the backseat as a neighbouring vehicle moved forward out of their carpark has lost an effort to have her insurer waive a $750 policy excess...
Australia has coolest year since 2012, wettest November ever
09 February 2022
Last year was Australia’s coolest since 2012 as the La Nina weather pattern brought widespread rainfall, though the national mean temperature was still above average...
INsight podcast: is the hard market getting softer?
09 February 2022
The continued slowing down of rate increases in the market is the main topic of discussion in the latest Insurance News podcast....
Suncorp profit slumps after natural disasters impact
08 February 2022
Suncorp first-half earnings slumped 21% after higher natural disaster claims costs and lower investment market returns hit the insurance operations...
Details still scanty on pool savings delivery
08 February 2022
Insurers are awaiting further details on the implementation of the northern Australia cyclone reinsurance pool after the Federal Government yesterday said finalised legislation is set to be introduced into Parliament and would deliver significant premium savings...
New broker code ‘will help change culture’
08 February 2022
The new Insurance Brokers Code of Practice, which should be implemented by November, will be key to changing culture, the National Insurance Brokers Association Convention heard today...
Uninsured driver in lane change collision denied costs
08 February 2022
A driver who had no motor insurance has been unsuccessful in efforts to have an insurer pay the cost of repairing damage to his car after colliding with its policyholder...
Former QBE executive returns as Chief Underwriting Officer
04 February 2022
QBE Insurance says Andrew Ziolkowski has returned to the business to take up the role of Chief Underwriting Officer for Australia Pacific...
ICA seeks ASIC role on future test cases
04 February 2022
The Insurance Council of Australia has proposed that the Australian Securities and Investments Commission should be given the power to take the lead on future industry test cases...
Owner of $118,000 Tesla with undisclosed demerits loses dispute
04 February 2022
A Tesla Model S driver seeking $75,000 in repair costs has lost a claim dispute with QBE after he failed to disclose seven traffic offences which incurred demerit points and speeding fines in the three years prior to policy renewal...
Australia coal risks raised at House of Lords inquiry
04 February 2022
Insurance regulation changes to reflect the transition to a net-zero economy should be considered as part of reforms, with underwriters nervous about risk areas such as coal in Australia, a UK House of Lords committee inquiry has been told...
Marsh Q4 price index confirms Australia rate moderation trend
03 February 2022
Commercial insurance rates in the Australia-led Pacific market continue to moderate, rising 13% in the fourth quarter of last year following a 17% increase in the prior three-month period, Marsh’s latest price index shows...