Daily
Conduct code for mutuals launched as 'traditional' premiums rise
15 December 2022
The Business Council of Co-operatives and Mutuals has prepared its first voluntary code of conduct for operators of discretionary mutual funds, amid renewed interest in the risk protection schemes as alternatives to traditional insurance products...
Knockout blow: insured can't claim legal costs for party punch
15 December 2022
A complainant who delivered a knockout punch to a partygoer failed to have his legal liabilities covered by his home and contents policy following an Australian Financial Complaints Authority ruling...
INsight podcast feature: Quality of Advice Reviewer on commissions
15 December 2022
An interview with Quality of Advice Reviewer Michelle Levy has been published as a special edition of the Insurance News podcast...
Gallagher acquires Aviation Insurance Australia
14 December 2022
Gallagher has acquired Brisbane-based specialist broker Aviation Insurance Australia, which has served clients around the country since 1993...
'Priced out': rising premiums add to affordability woes
14 December 2022
More New Zealand property owners may be forced to go without home insurance as premiums continue to escalate, according to Consumer NZ...
Underinsurance clause hits hotel fire claim payment
14 December 2022
A hotel damaged by fire should have the claim payout for repairs reduced due to an underinsurance clause, the Australian Financial Complaints Authority has ruled, despite the complainant arguing the amount should be paid in full...
INsight podcast: why strata remuneration needs a revamp
14 December 2022
Strata remuneration in all its complexity is the key issue discussed by the panel on the latest episode of the Insurance News podcast...
'Prepare for El Nino': triple La Nina may prove tipping point for next big dry
13 December 2022
The triple-dip La Nina, which has brought record insurance losses from flooding this year, may be signalling a shift toward a prolonged drought cycle, a report released by Aon Reinsurance Australia says...
'Singular focus': disaster protection role flagged as ACCC reviews Suncorp bank sale
13 December 2022
ANZ has highlighted the advantages of Suncorp focusing solely on insurance in an application to the Australian Competition and Consumer Commission seeking clearance for its proposed $4.9 billion purchase of the company’s banking division...
Allianz confirms consumer chief leaving next year
13 December 2022
Allianz Australia says Chief GM Consumer Michael Winter will leave mid-next year after more than 20 years with the business...
'Loyal customer for 46 years' loses dispute over expired policy
13 December 2022
An elderly driver who sought cover following a collision with another vehicle will not be compensated after a dispute ruling determined she did not have an active policy...
RACQ declines to confirm reports that it’s about to sell insurance business
09 December 2022
RACQ has declined to comment on “market speculation” that it aims to sell its insurance business, saying it is committed to continuing to offer insurance to its members...
Heath Amber elected as UAC chairman
09 December 2022
The Underwriting Agencies Council has elected Austplacements CEO Heath Amber as its new chair and honoured long-serving GM William Legge at a farewell function ahead of his retirement at year end...
Lismore victim loses claims dispute over optional flood cover
09 December 2022
A Lismore resident whose home was severely damaged by floods in February will not have his claim paid after an Australian Financial Complaints Authority panel backed his insurer’s decision to decline it...
Perils pegs eastern Australia October flood losses at $791 million
09 December 2022
Catastrophe data company Perils estimates losses from October’s floods in NSW, Victoria and Tasmania at $791 million, making it Australia’s fifth largest flood event loss since 1980...
Strata review proposes revamp of 'convoluted' remuneration
08 December 2022
Conflicts of interest that can’t be satisfactorily managed across the strata industry should be phased out, an independent review of "convoluted" arrangements within the sector has recommended...
ASIC takes insurer to court over claims handling 'failure'
08 December 2022
The Australian Securities and Investments Commission has filed court proceedings seeking financial penalties against an insurer for allegedly breaching its duty to act with utmost good faith during claims handling...
Property owners want embedded insurance, says Cover Genius
08 December 2022
Cover Genius’ latest report says a rising segment of property owners will switch away from traditional insurance and towards embedded options as customers are lured by convenience...
Insurance professionals recognised for 'making a difference'
08 December 2022
The Australian and New Zealand Institute of Insurance and Finance has announced the newest winners of its annual Making a Difference awards...
Rain-causing negative IOD ends, La Nina persists
07 December 2022
An Indian Ocean climate driver that has contributed to this year’s record-breaking flooding has returned to neutral territory, but Australia’s third-consecutive La Nina is likely to persist into next month or February, the Bureau of Meteorology says in its latest update...