Daily
Johns Lyng manager's dismissal deemed valid, but procedure unfair
24 February 2022
A Victorian man has been awarded a small fraction of the unfair dismissal compensation he was seeking from building services company Johns Lyng after it terminated his employment for sending inappropriate messages, promoting his own business and neglecting duties during working hours.
Descartes partners with Reask on cyclone cover
24 February 2022
Parametric insurance specialist Descartes Underwriting has teamed with Sydney-based risk analytics firm Reask as it looks to expand its global cyclone coverage...
Government insurer steps up hunt for industry partner
24 February 2022
The Defence Service Homes Insurance Scheme is searching for an industry partner to work on software solutions and management and administration services...
Pricing, acquisitions boost Steadfast earnings
23 February 2022
Steadfast first-half earnings have jumped after stronger pricing boosted the broking and underwriting agency divisions and as the company continues to pursue acquisitions...
PSC earnings soar on UK contribution, organic growth
23 February 2022
PSC Insurance Group today reported stronger-than-expected earnings for the six months to December, fuelled by contributions from its UK and Australia acquisitions as well as organic growth across all business segments...
Cat owner tries to blame insurer after fatal snake bite
23 February 2022
A pet owner has lost a dispute over liability after his cat died after it was taken to a vet and treated for a suspected snake bite last summer...
INsight podcast: BI test case done, but not quite dusted
23 February 2022
The Full Court appeal ruling on the second industry test case related to covid business interruption claims is the focus for the panel on the latest Insurance News podcast...
High Court appeal pondered after insurer BI win
22 February 2022
Insurers are working through the details of the business interruption Full Court decision that went mostly in their favour yesterday as the parties consider whether issues should be pursued through a High Court appeal application...
ICA ramps up resilience call ahead of election
22 February 2022
The Insurance Council of Australia has launched a national campaign ahead of the federal election advocating greater government spending to reduce natural catastrophe impacts and wider reforms to drive resilience...
AUB bullish after first-half earnings jump
22 February 2022
AUB Group today adjusted upwards its earnings guidance for this financial year, buoyed by a sharp first-half showing from its Australia broking and agencies businesses as well as contributions from BizCover, an online platform in which it owns a minority stake...
AFCA rules $227,000 jewellery claim was fraud
22 February 2022
An unemployed Suncorp policyholder seeking a payout of almost a quarter of a million dollars for the theft of 74 items, mostly jewellery, has lost an insurance dispute after the claim was deemed fraudulent...
QBE swings to profit as premiums surge
18 February 2022
QBE has reported a $US750 million net profit compared with a $US1.52 billion loss in the previous year after strong pricing and a surge in gross written premium offset catastrophe claims impacts...
Labor would ensure pool put in place if elected: MP
18 February 2022
Labor would ensure that the cyclone reinsurance pool is put in place if elected this year, a Member of Parliament has said during debate on the bill, while the Opposition is also putting pressure on the Morrison Government to release modelling behind the scheme...
ICA says mitigation message is getting through to politicians
18 February 2022
The Insurance Council of Australia says there has been a “discernible shift” in politicians' attitudes towards investing in natural disaster mitigation measures...
'Applied incorrectly': insurer loses dispute over submerged boat exclusion
18 February 2022
The owners of a boat worth almost half a million dollars have won a $70,000 payout, compensation and reimbursement of legal fees in a claim dispute after the vessel’s engine compartment and sleeping cabin flooded...
BI test case appeal decision set for Monday
17 February 2022
The Full Court is scheduled to deliver an appeals decision on the Insurance Council of Australia second covid business interruption test case on Monday morning...
Former insurance company employee charged with $700,000 fraud
17 February 2022
The ex-employee of a Sydney-based insurance company has been charged with allegedly obtaining more than $730,000 in fraudulent payments, NSW Police says...
Construction PI rates may be 'close to peak'
17 February 2022
Professional indemnity insurance rates in the Australian construction market are probably nearing their peak after insurers raised premiums sharply in the last few years in response to deteriorating conditions, according to broker WTW...
Man who missed insurer letters while in jail loses dispute
17 February 2022
A man seeking a $600,000 pay out after learning his pension payments stopped when he was in prison, and so a direct debit for his insurance premium payment was not paid, has lost a claim dispute...
Industry warned claims inflation will last another year
16 February 2022
Pandemic-fuelled claims inflation is a “major issue” for insurers in Australia, insurance consulting firm Xceedance says, predicting it will probably be another 12 months before the industry sees some relief - and that's provided the economy is not hit with another disruptive covid variant outbreak...