Daily
Strata competition rises as new offerings launched, analyst says
25 January 2023
Independent strata analyst StrataRatings says the strata insurance market can expect to see more competition after the recent addition of new offerings that are backed by Lloyd’s...
Under pressure: Seroja 'justifies' cyclone building code upgrade
25 January 2023
Academics are seeking that Australian building standards be upgraded after finding many newer homes had significant roof damage after tropical cyclone Seroja even though wind speeds were within current design parameters...
Property owners win flood/storm dispute
25 January 2023
Homeowners whose property was inundated by water will be covered for their losses after a dispute ruling determined that stormwater, not floodwater, was the initial cause of damage...
Loyal insurance staff penalised, recruiter says
24 January 2023
Loyal insurance staff are being financially penalised after employers lured new hires with attractive offers that exceeded the average salary increases awarded to existing staff, recruiter Hays says...
Consilium's new reinsurance division eyes Australian business
24 January 2023
London-based specialty broking business Consilium has launched a cedant-driven facultative reinsurance division that it says will be looking for opportunities around the world, including in Australia...
Queensland buyback: demolition work starts on flood-hit homes
24 January 2023
The Queensland Government says demolition has started on several flood-affected homes that were among the first properties acquired under the Commonwealth-backed $741 million Resilient Homes Fund program...
Insurer criticised for cash-settling fire claim mid-way through repairs
24 January 2023
Allianz will have to pay more than the sum insured to finalise a property claim that it cash settled after the cost of repairs – which it had already started – looked set to spiral...
Suncorp signs digital deal with Microsoft
23 January 2023
Suncorp announced today it has signed a three-year cloud computing agreement with Microsoft to accelerate its digital strategy...
Sure makes two senior appointments
23 January 2023
Sure Insurance has appointed Jan Wiid as Head of Claims and Christine Bryant as Risk and Compliance Manager...
No cover for health worker overwhelmed by covid who missed email
23 January 2023
A public hospital worker who failed to attend to an email while working 16 hour days during Australia’s second wave of covid infections will not be covered for a car accident because her policy had lapsed...
Lismore MP criticises clarity of NSW buy-back scheme
23 January 2023
Lismore MP Janelle Saffin says the NSW Government needs to show greater urgency and better communication as it rolls out its $800 million buy-back and build-back program...
Reinsurance renewals 'most challenging in a generation': Aon
20 January 2023
The January reinsurance renewals period was the most challenging in a generation, with property catastrophe risk seeing the largest rate increases and appetite changes, Aon says...
Insurer vindicated after firing covid denier
20 January 2023
A Suncorp employee who refused to be vaccinated against Covid-19 because “there is no evidence it exists” has lost her unfair dismissal compensation claim after the insurer terminated her employment...
Truckie took workers' comp payments while working
20 January 2023
A truck driver has been ordered to repay $47,509 to WorkSafe Victoria after he pleaded guilty in court to two rolled-up charges of fraudulently obtaining payments from the workers’ compensation scheme...
Motorist wins claim dispute after leaving accident scene
20 January 2023
A driver who lost control of her car and crashed into a house will be covered for the incident after a dispute ruling determined that the exclusion relied on by her insurer to deny the claim was not applicable...
Business interruption demand rising despite pandemic wording issues
19 January 2023
Business interruption insurance demand could be set for growth, despite legal battles and confusion during the covid pandemic, with wordings clarified and more firms aware of the product’s importance, a global group of lawyers says...
Terrorism pool retrocession program finalised
19 January 2023
The Australian Reinsurance Pool Corporation has finalised its terrorism retrocession program for this year, in line with arrangements under a previously negotiated multi-year agreement...
Renewable energy projects 'caught out' by floods severity: WTW
19 January 2023
Australia’s renewable energy industry could face higher premiums as underwriting appetite worsens after the country suffered its worst floods last year, broker WTW says in a report released today...
'Not up to code': AFCA criticises insurer over delayed storm claim
19 January 2023
The Australian Financial Complaints Authority has criticised Allianz’s handling of a storm claim, saying it was hit by delays and poor communication...
Another insurer joins cyclone reinsurance pool
18 January 2023
Sure Insurance is the second insurer to announce its participation in the Federal Government’s cyclone reinsurance pool, which aims to reduce premium prices in Australia’s disaster-prone north...