Daily
All summer long: La Nina may persist until autumn
08 December 2021
Climate models suggest the current La Nina weather pattern will persist until late summer or early autumn, the Bureau of Meteorology says...
WTW appoints construction expert in Melbourne
08 December 2021
Willis Towers Watson has appointed Kishan Dasan to the newly created role of Director of Strategic Growth, Construction and Natural Resources Australasia...
INsight podcast: pool plan uncovered, but some details still murky
08 December 2021
The Insurance News podcast panel this week looks in detail at the Federal Government's draft legislation for its upcoming cyclone reinsurance pool, and what it means for the scheme which should be up and running by July...
IAG eyes one million new customers as part of growth agenda
07 December 2021
IAG today announced plans to add one million new customers primarily through the expansion of the NRMA Insurance brand as part of CEO Nick Hawkins’ five-year vision for the business, which also involves the revitalisation of the insurer’s loss-making intermediated division...
Clarity, changes sought on reinsurance pool
07 December 2021
Brokers and insureds are closely examining the northern Australia cyclone reinsurance pool details and seeking more clarity and some changes, as a tight deadline looms for submissions on the draft legislation...
'Must do more': Suncorp slams leaders on climate change, mitigation
07 December 2021
Climate change must be tackled by setting “ambitious targets” but Australia also needs to deal with today’s weather challenges, Suncorp CEO Steve Johnston says...
Couple's home destroyed by bushfire, but insurance had lapsed
07 December 2021
Suncorp denied a claim after a former customer’s home was destroyed by bushfire, because the premium had not been paid about 10 months previously...
High-net-worth agency Mansions calls time on commissions
03 December 2021
Steadfast-owned Mansions of Australia will axe commissions and move to a fee-for-service model from March next year...
Strata specialist QUS searches for new underwriter
03 December 2021
Strata insurance specialist QUS has informed broking partners that its underwriting arrangement with AIG Australia will end on December 31...
Draft laws outline mandatory cyclone reinsurance pool
03 December 2021
The Federal Government has released cyclone reinsurance pool draft legislation that shows it will be compulsory for insurers with eligible risks to participate in the scheme after a transition period...
Homeowner wins disclosure dispute despite damning report
03 December 2021
A first-time homebuyer has won a $62,938 payout in a claim dispute after thieves broke in and vandalised his insured property, setting fire to a number of rooms, after he was forced to move out when COVID struck...
Cyclone impacts set to worsen without action on home resilience: ICA
02 December 2021
Cyclones have generated claims costs of $23 billion since 1967 and impacts are set to worsen unless action is taken, given that homes are not resilient and risks are expected to rise with climate change, the Insurance Council of Australia says...
Service standards, legal obligations dominate broker code breaches
02 December 2021
Non-compliance in relation to service standards and legal obligations as set out in the Insurance Brokers Code of Practice dominated subscriber breaches last year, similar to the prior 12-month period...
Gallagher boosts Melbourne presence with Sound acquisition
02 December 2021
Gallagher today announced the acquisition of Melbourne-based Sound Insurance Services for an undisclosed sum, as it looks to grow in the Victorian capital...
ACCC approves ICA tool to process BI claims
02 December 2021
The Australian Competition and Consumer Commission has granted interim approval for insurers to use a web-based tool developed to help assess a possible influx of COVID-related business interruption claims following the conclusion of the second test case...
ASIC Black Summer claims review flags areas for improvement
01 December 2021
An Australian Securities and Investments Commission review of claims handling outcomes for consumers affected by the Black Summer bushfires has identified areas for improvement and good industry practices that it says should be widely adopted...
Landlord insurers to stop chasing tenants for accidental damage
01 December 2021
Residential landlord insurance providers will no longer pursue tenants for unintentional or accidental damage caused, responding to a months-long public pressure campaign by WEstjustice and Choice...
Marsh appoints Chief Claims Officer
01 December 2021
Marsh has appointed insurance lawyer Catherine Osborne to the newly created role of Chief Claims Officer, Pacific as it strengthens support for clients...
INsight podcast: La Nina and what it means for insurers
01 December 2021
The La Nina weather system and what it could mean for insurers is discussed in depth on the latest Insurance News podcast...
IAG faces shareholder class action over BI disclosure
30 November 2021
Law firm Quinn Emanuel Urquhart & Sullivan plans to file a shareholder class action against IAG for alleged breaches in updating the market about its exposure to business interruption claims resulting from the pandemic...