Marsh acquires WA-based Austral Risk Services
03 May 2023
Marsh has acquired WA brokerage Austral Risk Services as part of plans to strengthen its position in the state...
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Insurers urged to issue ‘harmonised’ flood claim advice
03 May 2023
Flood policyholders should all receive industry-standard, consistent advice from insurers explicitly detailing what to do in relation to making a claim, providing evidence and not invalidating their cover, a new Natural Hazards Research Australia report says...
Insurer must pay stolen vehicle claim despite keys left in car
03 May 2023
A car theft victim will be reimbursed for their losses after winning a claims dispute against their insurer, which failed to prove the insured had been provided with the latest product disclosure statement...
INsight podcast: 22 quarters of premium rises
03 May 2023
The latest edition of the Insurance News podcast revisits Marsh's commercial pricing index, which shows premiums have risen for the last 22 quarters...
BMS diversifies with Gard Insurance acquisition
02 May 2023
BMS Group has acquired Gard Insurance, headed by industry veteran Craig Patterson, in its first acquisition of an Australian underwriting agency...
Quality of Advice reviewer defends proposals as government weighs response
02 May 2023
Financial services lawyer Michelle Levy, who led the Quality of Advice Review, has responded to consumer groups opposed to proposals she made in her final report, particularly in relation to the creation of a “good advice” duty and expanding the definition of personal advice...
Canopius expands with Australia-based reinsurance team
02 May 2023
Canopius Group is expanding its Australia and New Zealand reinsurance offering with Andrew Parker, previously at Aspen Re, appointed to lead a new local team...
Insurer wins dispute over deliberately lit cottage fire
02 May 2023
A farm owner whose cottage was severely damaged by a “likely intentionally lit” fire will not be covered for his losses...
Property catastrophe risk boosts Pacific Q1 commercial pricing: Marsh
28 April 2023
Commercial insurance pricing in the Pacific region increased 7% in the first quarter, rising from a 5% gain in the December period as natural catastrophe risks boosted property, the Marsh Global Insurance Market Index shows...
Mustard Underwriting agency launches
28 April 2023
Mustard Underwriting, backed by capacity from the Lloyd’s market, has launched today, offering risk protection products aimed at companies operating in the sharing economy...
Perils revises loss estimate for Southeast Australia October floods
28 April 2023
Catastrophe data company Perils has revised its loss estimate for the October Southeast Australia floods to $907 million...
Caravan owners challenge embargo used to deny flood claim
28 April 2023
Complainants who purchased a policy days before their caravan and annexe flooded will be covered for their losses after winning a claims dispute...
ICA annual report sets out year-ahead key priorities
27 April 2023
Collaborating with industry and government to address availability and affordability of cover across all lines is one of the priorities for the year ahead, the Insurance Council of Australia says in its annual report...
ASIC cancels transport cover specialist's licence over PI breach
27 April 2023
Assurance Cover Australia, a provider of discretionary cover for motor vehicles and drivers, has had its financial services licence cancelled as it did not have the mandatory professional indemnity insurance, the corporate regulator announced today...
Insurer not required to cover tourist's alcohol-induced hospitalisation
27 April 2023
A traveller who was hospitalised in Thailand due to alcohol intoxication will not be compensated after losing his claims dispute against his insurer...
INsight podcast: learning lessons from last year's floods
27 April 2023
The Insurance Council's decision to commission an external review of last year's massive flood catastrophe is the leading discussion point on the latest edition of the Insurance News podcast...
Regulatory burdens risk affordability issues: ICA
26 April 2023
Cumbersome and overcomplex regulation risks limiting competition, stifling innovation and raising premiums for consumers, while processes to introduce changes are often reactive, the Insurance Council of Australia has warned a parliamentary inquiry...
Double whammy of weather systems could heighten bushfire risk
26 April 2023
An El Nino could combine with a positive Indian Ocean Dipole later this year to create challenging conditions for bushfire risk across parts of Australia...
Aon Reinsurance Solutions appoints local Head of Treaty
26 April 2023
Paul Grasso has been promoted to the role of Head of Treaty in Australia and New Zealand for Aon’s Reinsurance Solutions business...
Vehicle owner loses claims dispute over test drive theft
26 April 2023
A complainant whose vehicle was stolen during an unaccompanied test drive will not be compensated after his actions were found to have contributed to the event...