Daily
Complainant compensated for 'inappropriate selling'
04 August 2022
A car owner will be refunded the premiums he paid for an equity protection insurance policy after a dispute ruling found his insurer engaged in inappropriate sales tactics...
Fixed-price repair model 'becoming untenable' as costs rise
04 August 2022
Fixed-price property repair contracts entered into by insurers and contractors, which have been the market standard for decades, are becoming “increasingly untenable” due to surging costs in a volatile economic environment, an Axa XL claims specialist says...
'Golden age' dawns for travel insurance: Allianz Partners
04 August 2022
Allianz travel insurance policy purchases have almost doubled each month since January, the insurer says, rebounding as covid-related restrictions gave way to a 34% spike in international departures in June as Australians headed to Europe for the first time in two years...
Floods warning as negative IOD declared, La Nina watch remains
03 August 2022
Australia’s east coast faces “elevated” flood risk in the coming months through to spring following the formal declaration of a negative Indian Ocean Dipole event, the Bureau of Meteorology says...
NZ launches National Adaptation Plan, flood insurance review
03 August 2022
The New Zealand Government today launched its first National Adaptation Plan, which recommends 120 actions to build more resilient communities...
Homeowner loses dispute over collapsed pool
03 August 2022
A homeowner will not be covered for damage to his 40-year-old pool after an Australian Financial Complaints Authority panel decided that the proximate cause of the structure’s collapse was deterioration over time...
INsight podcast: megatrends, and ASIC descends
03 August 2022
The CSIRO report on megatrends set to shape our future society is the main subject discussed on the latest Insurance News podcast...
D&O rates fall 5% in first decline since 2017
02 August 2022
Directors’ and officers’ pricing in the Australia-led Pacific market decreased 5% in the second quarter of this year – the first time that it has fallen since 2017, broker Marsh says in its latest quarterly update of commercial insurance premium pricing...
IAG to fight shareholder class action over BI disclosure
02 August 2022
IAG will fight a shareholder class action filed in the Supreme Court of Victoria over its disclosure of potential financial impacts from covid-related business interruption claims made under policies with outdated Quarantine Act wordings...
Envest, Aviso announce 'milestone' investment in brokerage
02 August 2022
Envest-backed Aviso Group has acquired Townsville-based North Queensland Insurance Brokers, in what it describes as a “milestone investment”...
Underinsured driver left with no car and large debt wins dispute
02 August 2022
A single mother who owed her financier more than $40,000 on a written-off car has won a claim dispute and compensation after the ombudsman ruled her insurer gave poor and inadequate advice over the sum insured value at the inception of her policy...
March flood costs pass $5 billion, overtake Cyclone Tracy
29 July 2022
Insured losses from February-March floods that hit Queensland and NSW have climbed to $5.134 billion to be Australia’s second costliest natural catastrophe, only exceeded by Sydney’s 1999 hailstorm...
Consumers 'still in the dark' on cyclone pool savings
29 July 2022
Policyholders are no closer to knowing the impact the cyclone reinsurance pool will have on premiums as key modelling details have still not been released, the Australian Consumers Insurance Lobby says...
Howden announces partnership with Perth broker
29 July 2022
Howden has announced a partnership with Perth-based insurance broker Unicorn Risk Solutions, saying the agreement will further strengthen its presence in WA, nationally and also in the broader Pacific market...
Complainant compensated for widespread storm, mould damage
29 July 2022
A homeowner whose property suffered significant storm damage will be covered for building repairs and mould remediation after a claims dispute was settled partially in her favour...
Aviso Broking announces latest acquisition
28 July 2022
Aviso Broking, which was formed earlier this year, has acquired Macquarie Insurance Brokers in eastern Sydney as it actively pursues expansion plans...
'Season of severe weather': climate index sets record
28 July 2022
Extreme weather conditions including unusually heavy rainfall across the east coast drove the quarterly Australian Actuaries Climate Index to its highest level ever...
Motorist loses bid to remove claim from record
28 July 2022
A motorist who says her insurer misled her into filing a claim for a “not at fault” accident will not be compensated after losing her claims dispute...
Tell us how you're going by completing wellness survey
28 July 2022
Almost 700 readers have taken part in the Insurance News wellness survey - and there's still time to join them...
Claims handling a focus for AFCA, code monitoring
27 July 2022
Claims handling is expected to be a focus this financial year for the Australian Financial Complaints Authority while the issue is also set to be examined as part of code of practice independent monitoring activity...