Daily
NIBA launches flood claims assistance initiative
23 March 2022
The National Insurance Brokers Association has launched its claims support initiative to provide advice and assistance for victims of the Queensland and NSW flooding catastrophe, as the cost of the disaster continues to climb...
'Unseaworthy and uninsured': exclusions sink boat cover
23 March 2022
A boat owner who tried to sell his vessel only to discover it was unseaworthy has lost a dispute over a declined insurance claim...
WTW adds cyber security expert in Brisbane
23 March 2022
WTW has appointed Rob Wiggan as Cyber Security Consultant within its Australasia Financial Lines team...
High Court BI appeal applications filed
22 March 2022
The test case legal battle over business interruption insurance cover for covid-related disruptions is set to continue with appeal applications filed to the High Court...
ICA warns against retail definition change
22 March 2022
The Insurance Council of Australia has warned changes to the definition of retail client, floated as part of a financial laws review, could have an adverse impact on small business customers...
Driver with worn tyres who lost control in downpour wins dispute
22 March 2022
A Queensland-based driver of a 4WD car with tyres that were almost a decade old has won a claim dispute after he slid into a wall while swerving to avoid a cat in heavy rain...
NZ insurers face $66 million in Westport flood home, motor claims
22 March 2022
Insurers have fully settled or nearly completed 85% of home claims from last July’s floods in Westport, South Island, according to an update today from the Insurance Council of New Zealand...
Flood risk threatens future property value collapse
18 March 2022
Climate-change fuelled riverine flooding is expected to cause a relative loss of property value around Australia of $170 billion by 2050 as buyers adjust for very high insurance costs, a risk assessment company has warned...
Flood claims pass 150,000 as ICA pays tribute to communities
18 March 2022
Insurers have received 150,774 claims related to NSW/Queensland floods – a 1.9% increase on yesterday’s figures...
Aviso Group creates dedicated AR business
18 March 2022
Aviso Group says it has set up a dedicated authorised representative business that will be led by CEO Andrew Hinz and GM of Distribution Matt Bradley...
Flood victim's claim wiped out by 72-hour exclusion
18 March 2022
An insured homeowner whose property was damaged by floods is unable to claim because he bought the policy just two days previously...
SMEs buying more 'simple' cover direct: Vero index
17 March 2022
Businesses are buying more straightforward insurance directly as they access a mix of channels, while satisfaction levels when using a broker have jumped sharply higher, the latest annual Vero SME Insurance Index released today shows...
Renewal refusal after flood review sparks complaint
17 March 2022
A homeowner has lost a dispute lodged after an insurer declined to renew cover because of a reassessment of the property’s flood risk...
Claims management 'changing fast': Crawford
17 March 2022
Claims management across the industry is transforming at speed, with a “significant shift” in the way brokers and insurers want claims handled, says Crawford & Company...
EQC set for new name as bill reforms scheme
17 March 2022
The New Zealand Government says making claims after natural disasters will become easier after a bill was introduced incorporating recommendations from a recent inquiry...
Suncorp expects 44,000 flood catastrophe claims, raises hazard costs
16 March 2022
Suncorp says total claims from the NSW/Queensland flood catastrophe will be around the 44,000 mark based on its latest projections and the business has raised its estimated natural hazard costs for this financial year to $1.1 billion from $1.075 billion previously...
Gallagher Bassett appoints Australia CEO
16 March 2022
Gallagher Bassett has promoted Pete Nicholson to the role of Australia CEO, effective from the end of this month, under a leadership succession plan...
Mutuals see greater role in disaster resilience
16 March 2022
Mutuals can play a critical role in driving resilience and providing risk protection in catastrophe-prone areas and their benefits should be considered as part of policy discussions, an industry organisation says...
INsight podcast: pressure rises for broader reinsurance pool
16 March 2022
Rising pressure on the Federal Government to broaden the scope of the cyclone reinsurance pool to include flooding more widely was discussed on the latest Insurance News podcast...
'Managed retreat': is it time to think the unthinkable?
15 March 2022
A University of Melbourne academic says it could be time to abandon buildings in some of Australia’s highest-risk regions...