Daily
Details still scanty on pool savings delivery
08 February 2022
Insurers are awaiting further details on the implementation of the northern Australia cyclone reinsurance pool after the Federal Government yesterday said finalised legislation is set to be introduced into Parliament and would deliver significant premium savings...
New broker code ‘will help change culture’
08 February 2022
The new Insurance Brokers Code of Practice, which should be implemented by November, will be key to changing culture, the National Insurance Brokers Association Convention heard today...
Uninsured driver in lane change collision denied costs
08 February 2022
A driver who had no motor insurance has been unsuccessful in efforts to have an insurer pay the cost of repairing damage to his car after colliding with its policyholder...
Former QBE executive returns as Chief Underwriting Officer
04 February 2022
QBE Insurance says Andrew Ziolkowski has returned to the business to take up the role of Chief Underwriting Officer for Australia Pacific...
ICA seeks ASIC role on future test cases
04 February 2022
The Insurance Council of Australia has proposed that the Australian Securities and Investments Commission should be given the power to take the lead on future industry test cases...
Owner of $118,000 Tesla with undisclosed demerits loses dispute
04 February 2022
A Tesla Model S driver seeking $75,000 in repair costs has lost a claim dispute with QBE after he failed to disclose seven traffic offences which incurred demerit points and speeding fines in the three years prior to policy renewal...
Australia coal risks raised at House of Lords inquiry
04 February 2022
Insurance regulation changes to reflect the transition to a net-zero economy should be considered as part of reforms, with underwriters nervous about risk areas such as coal in Australia, a UK House of Lords committee inquiry has been told...
Marsh Q4 price index confirms Australia rate moderation trend
03 February 2022
Commercial insurance rates in the Australia-led Pacific market continue to moderate, rising 13% in the fourth quarter of last year following a 17% increase in the prior three-month period, Marsh’s latest price index shows...
Consumer group urges greater commissions focus in advice review
03 February 2022
Harm caused by insurance commissions and sales incentives must be elevated as a focus in the Federal Government review of financial advice that will take place this year, the Consumer Action Law Centre says...
Policyholder loses underinsurance dispute after clause applied
03 February 2022
A commercial policyholder has lost a dispute lodged with the Australian Financial Complaints Authority after building underinsurance led to a reduced claim payment when part of the property was damaged by a fire caused by arson...
Geoff Summerhayes joins Zurich Australia, OnePath boards
03 February 2022
Financial services luminary Geoff Summerhayes has been appointed to Zurich Australia’s boards as Independent Non-Executive Director and Member of Risk, Compliance and Audit Committee...
Adani activists welcome Convex stance on thermal coal
02 February 2022
Convex has issued a statement to say it will not provide insurance cover for the construction or operation of any new thermal coal mine projects including in Australia...
Tower receives Tonga claims, warns on EQC cap
02 February 2022
Tower says claims triggered by the Tonga volcanic eruption and tsunami are set to remain below the firm’s reinsurance excess, as it today reaffirmed its full-year guidance and took aim at an Earthquake Commission cap increase that it says will penalise homeowners in lower seismic-risk areas...
'Unusual stress': Mazda owner compensated after five failed repairs
02 February 2022
The owner of a 2019 Mazda CX-3 seeking that his insurer replace his car with a new model after five faulty windscreen replacements in a year has been awarded $2000 in compensation for stress and inconvenience but told he must allow Suncorp to tow his car to its repairer for assessment...
For sale, or not for sale? INsight podcast ponders Zurich future
02 February 2022
The reported pending sale of Zurich's general insurance operations in Australia provides a key talking point on the first Insurance News podcast for 2022...
Court backs Allianz in hail claim deductibles dispute
01 February 2022
The NSW Court of Appeal has found in favour of Allianz in a claim dispute over whether a deductible should apply once or multiple times after more than 100 houses were damaged in a Sydney hailstorm...
BOM issues warning on fading La Nina
01 February 2022
The Bureau of Meteorology warned today that the La Nina weather system could go out with a bang...
360 unveils key appointment
01 February 2022
360 Underwriting Solutions has announced the appointment of Jonathan Moss as Executive Director for Mid Market Property...
Driver who crashed Mercedes after drinking wins repair costs
01 February 2022
A 35-year-old man has won a claim dispute after colliding with a median strip while driving his $42,000 Mercedes A45 AMG home after drinking free-poured scotch whisky on ice with friends...
Falling profit, BI, affordability: APRA recounts 'difficult' year
28 January 2022
The general insurance industry faced a “difficult 2021” and mitigation measures will be essential to keep insurance accessible and affordable for all, says the Australian Prudential Regulation Authority annual review...