Daily
Consumer group urges greater commissions focus in advice review
03 February 2022
Harm caused by insurance commissions and sales incentives must be elevated as a focus in the Federal Government review of financial advice that will take place this year, the Consumer Action Law Centre says...
Policyholder loses underinsurance dispute after clause applied
03 February 2022
A commercial policyholder has lost a dispute lodged with the Australian Financial Complaints Authority after building underinsurance led to a reduced claim payment when part of the property was damaged by a fire caused by arson...
Geoff Summerhayes joins Zurich Australia, OnePath boards
03 February 2022
Financial services luminary Geoff Summerhayes has been appointed to Zurich Australia’s boards as Independent Non-Executive Director and Member of Risk, Compliance and Audit Committee...
Adani activists welcome Convex stance on thermal coal
02 February 2022
Convex has issued a statement to say it will not provide insurance cover for the construction or operation of any new thermal coal mine projects including in Australia...
Tower receives Tonga claims, warns on EQC cap
02 February 2022
Tower says claims triggered by the Tonga volcanic eruption and tsunami are set to remain below the firm’s reinsurance excess, as it today reaffirmed its full-year guidance and took aim at an Earthquake Commission cap increase that it says will penalise homeowners in lower seismic-risk areas...
'Unusual stress': Mazda owner compensated after five failed repairs
02 February 2022
The owner of a 2019 Mazda CX-3 seeking that his insurer replace his car with a new model after five faulty windscreen replacements in a year has been awarded $2000 in compensation for stress and inconvenience but told he must allow Suncorp to tow his car to its repairer for assessment...
For sale, or not for sale? INsight podcast ponders Zurich future
02 February 2022
The reported pending sale of Zurich's general insurance operations in Australia provides a key talking point on the first Insurance News podcast for 2022...
Court backs Allianz in hail claim deductibles dispute
01 February 2022
The NSW Court of Appeal has found in favour of Allianz in a claim dispute over whether a deductible should apply once or multiple times after more than 100 houses were damaged in a Sydney hailstorm...
BOM issues warning on fading La Nina
01 February 2022
The Bureau of Meteorology warned today that the La Nina weather system could go out with a bang...
360 unveils key appointment
01 February 2022
360 Underwriting Solutions has announced the appointment of Jonathan Moss as Executive Director for Mid Market Property...
Driver who crashed Mercedes after drinking wins repair costs
01 February 2022
A 35-year-old man has won a claim dispute after colliding with a median strip while driving his $42,000 Mercedes A45 AMG home after drinking free-poured scotch whisky on ice with friends...
Falling profit, BI, affordability: APRA recounts 'difficult' year
28 January 2022
The general insurance industry faced a “difficult 2021” and mitigation measures will be essential to keep insurance accessible and affordable for all, says the Australian Prudential Regulation Authority annual review...
Victoria earthquake disputes heading to AFCA
28 January 2022
The Australian Financial Complaints Authority says it has received 62 complaints to date related to the Victorian earthquake last September...
Tasmania set to reintroduce home warranty insurance
28 January 2022
Tasmania is moving to reintroduce home warranty insurance in response to concerns about consumer protections amid strong building demand, after a previous scheme in the state was abolished in 2008.
Injured professional footballer wins payment dispute
28 January 2022
A professional Polish soccer player who was badly injured while training for an Australian club he was under contract to has won a claim dispute with his insurer...
Zurich sale process 'over within a month': report
27 January 2022
Zurich’s bid to sell its general insurance operations in Australia, excluding travel, will “wrap up within four weeks”, according to a media report today...
Genworth set for top LMI contract renewal, share price soars
27 January 2022
Shares in Genworth Mortgage Insurance rocketed 14% today after the Commonwealth Bank agreed to renew an exclusive agreement for the provision of Lenders Mortgage Insurance to its home loan customers...
Dad loses claim dispute after daughter crashes car
27 January 2022
A father is unable to claim on his motor policy with IAG because his daughter was driving at the time of an at-fault collision and the policy excludes under 25s...
Honey adds McGrath to growing list of investors
27 January 2022
ASX-listed real estate group McGrath Limited has invested $6.5 million in Honey Insurance and says the insurtech will provide its clients with innovative home and contents cover...
Supreme Court finds against directors over brokerage deal
25 January 2022
The Supreme Court of WA has found two Reliance Online directors breached their duties in purchasing Phil Doring Insurance Brokers in Queensland amid financial troubles and opposition from other directors...