Daily
Insurers to up pay in 'once in a career' skill crisis
08 June 2022
Nine out of 10 insurance employers will increase salaries at upcoming reviews as an unprecedented skills shortage creates a “once-in-a-career" market, recruiter Hays says...
Disclosure in focus as court orders AFCA to review decision
08 June 2022
The Federal Court has sent a fraudulent misrepresentation decision back to the Australian Financial Complaints Authority to be redetermined in a point-of-law ruling that has implications for disclosure disputes and utmost good faith...
INsight podcast: flood losses and claims criticism
08 June 2022
Spiralling flood catastrophe losses that have now reached $4.3 billion are the main focus of this week's episode of the Insurance News podcast...
ICA makes case for conflicted remuneration exemption
07 June 2022
The Insurance Council of Australia has cautioned against removing the conflicted remuneration exemption for general insurance products, at least until the impact of recent reforms such as design and distribution obligations to improve consumer protections are known...
Covid blinkers leave Australian firms exposed to other risks
07 June 2022
A narrow focus on covid has created an attention blindspot at Australian organisations and a failure to invest properly in resilience against risks such as climate change, cybersecurity and supply chains, a survey by platform Dataminr has found...
Climate indicators shore up wet weather outlook
07 June 2022
The Bureau of Meteorology says all climate model outlooks it surveys suggest an Indian Ocean driver associated with increased winter and spring rainfall for much of Australia is likely to form in the coming months...
Website redesign not covered after cyber attack
07 June 2022
A business owner who tried to claim additional costs under a cyber policy to improve his website after it was hacked has failed to win the full amount sought...
icare reviewing processes after privacy breach
03 June 2022
NSW state-insurer icare has notified regulators of a privacy breach after employer cost of claims reports were sent to the wrong employer or broker in a mistake attributed to human error related to manual processing...
TravelCard working to restart Australia operations
03 June 2022
Broker-focused TravelCard says work is underway to resume its business in Australia, after operations were placed in “hibernation” in October 2020 in response to the pandemic ban on international travel...
Mother nature vs insurers: Morgan Stanley warns on climate risks
03 June 2022
Suncorp and IAG have become more exposed to catastrophe risks as climate change and the extent of disasters experienced in Australia increase problems for insurers, a report by Morgan Stanley equity analysts says...
Rats! Boat owners lose chewed cabin dispute
03 June 2022
Boat owners who discovered water rats had caused $70,000 in damage by chewing through upholstery, dash trim, batteries, grab rails, speaker grills, a sea-deck kit and rotary encoder buttons have lost a claim dispute over a vermin exclusion...
Brooklyn Underwriting head resigns
02 June 2022
Brooklyn Underwriting Head Tim Fairbrother has resigned after almost a decade with the business, with Scott Jerome to take over the role as Acting Head, the Axa-owned agency has announced...
Aon's Affinity unveils outdoors-focused public liability offering
02 June 2022
Aon-owned Affinity Insurance Brokers is offering a new public liability product designed for the outdoor recreational industry, after securing a binder arrangement of $20 million with London-based Beazley Group...
Insurer in the clear for mould damage to storm-hit property
02 June 2022
A landlord who says a storm caused a mould outbreak on her property has lost a claims dispute to have the damage covered...
Large vs small: podcast highlights business attitudes to insurance
02 June 2022
The second episode of our special podcast series focused on this year’s Vero SME Index report has been published...
Flood costs pass $4 billion, overtaking Newcastle earthquake
01 June 2022
Insured losses from the record flooding in Queensland and NSW earlier this year have climbed to $4.3 billion to be Australia’s fourth costliest disaster, the Insurance Council of Australia said today...
Resilium builds 'significant footprint' with AR acquisitions
01 June 2022
Resilium Partners has made more acquisitions as the Ardonagh-backed business ramps up its presence in the Australian market...
Financial Services Minister appointed; climate, cyber gain focus
01 June 2022
Prime Minister Anthony Albanese has appointed Stephen Jones as Assistant Treasurer and Financial Services Minister and has given climate change and cyber security portfolios an elevated focus within Cabinet...
INsight podcast: rising claims and rising premiums
01 June 2022
APRA's latest quarterly statistics - and the impact of the flood catastrophe on them - are the main topic of discussion on the latest Insurance News podcast...
Insurers flag talent shortage issues
31 May 2022
Insurers have highlighted key challenges as a talent drought caused by high employment and covid-induced border closures continues...