Daily
Allianz and subsidiary must pay $1.5 million over misconduct
07 September 2021
Allianz Australia and its subsidiary AWP have been ordered by the Federal Court to pay $1.5 million for mis-selling travel insurance policies through Expedia websites, after proceedings taken by the corporate regulator...
Global P&C premiums to more than double: Swiss Re
07 September 2021
Global property and casualty premiums are expected to more than double to $US4.3 trillion in 2040 compared to levels last year, with economic growth and climate impacts driving increases, Swiss Re says in its latest Sigma report...
Insurer must pay claim despite driver's undisclosed drug conviction
07 September 2021
An insurer has been ordered to pay a motor claim despite the policyholder’s failure to provide information about a previous drug conviction...
Industry facing complex challenges: Taylor Fry
03 September 2021
While the last financial year was “improved”, the Australian general insurance industry continues to face major challenges, actuarial consultancy Taylor Fry says...
NSW cladding removal work delayed to new year
03 September 2021
Removal of flammable cladding from apartment blocks under the NSW Government Project Remediate program will commence following the summer holiday period, after it was previously expected work would begin by the end of this year...
Arch aims to grow Australia LMI business
03 September 2021
Bermuda-based specialty lines insurer Arch Capital Group is looking to further grow its presence in Australia after completing its acquisition of Westpac’s lenders’ mortgage insurance unit for $350 million at book value...
RAC customer loses claim dispute over sewage spill
03 September 2021
An RAC Insurance customer who made an unsuccessful claim for repairs to his residential property’s blocked sewage pipes has failed in his dispute with the insurer...
Hurricane Ida losses heading for $20-34 billion
02 September 2021
Hurricane Ida insured losses could reach $US15-25 billion based on early estimates, with the storm likely to be a major event for the reinsurance sector, S&P Global Ratings says...
IAG steps up IoT focus with Myriota investment
02 September 2021
Firemark Ventures, IAG’s corporate venture capital arm, has made its first investment in Internet of Things technology with the acquisition of a minority stake in Myriota...
Damaging winds, flooding forecast as negative IOD persists
02 September 2021
The Bureau of Meteorology is predicting “widespread damaging winds” and potential flooding across several states over the next two days...
Driver close to legal alcohol limit loses claim dispute
02 September 2021
Suncorp has won a claim dispute after a woman was involved a car accident when she chose to drive home after three glasses of white wine at a barbecue...
Insurers sign open letter backing path out of lockdown
01 September 2021
Australia’s four largest insurers are among leading companies that have signed an “open letter from the business community” urging governments to work together to implement the national plan for charting a path out of the current COVID-19 lockdowns...
The Star appeals Federal Court BI decision
01 September 2021
The Star Entertainment Group has lodged an appeal against a Federal Court decision that found insurers including Chubb did not have to cover a business interruption claim for losses resulting from COVID-19 restrictions...
Workplace mental health claims rise as COVID drags on
01 September 2021
Allianz Australia says it has seen a rise in workplace-related mental health claims, a sign that the pandemic continues to strain employee wellbeing across the country...
INsight podcast: APRA stats point to brighter future
01 September 2021
The latest and improved industry statistics from the Australian Prudential Regulation Authority are the main topic on this week's edition of the Insurance News podcast...
Locked-down Auckland hit by flood emergency
31 August 2021
Insurers have received an influx of early claims and expect many more to be lodged after torrential rainfall overnight caused severe flooding and damage in West Auckland, hitting a region that remains under stringent COVID-19 restrictions...
Hollard-backed disruptor gears up for NZ, UK expansion
31 August 2021
Hollard-backed Open, the insurtech behind the Huddle brand, is gearing up to launch in New Zealand this Christmas period and in the UK next year after raising $31 million in new capital from investors...
AFCA backs broker after truck damage not covered
31 August 2021
The Australian Financial Complaints Authority has ruled in favour of a Community Broker Network authorised representative after a dispute sparked when a truck was damaged during a brief period when the vehicle had been removed from a policy...
Zurich offers paid gender affirmation leave
31 August 2021
Zurich Australia and New Zealand is offering four weeks paid leave and other support measures under a gender affirmation policy that represents another step in facilitating a diverse and inclusive workplace...
Tasmania looks to ditch fire insurance levy
27 August 2021
The Tasmanian Government has opened consultations on proposed fire and emergency services reforms that include ending funding provided through a levy on insurance premiums...