Daily
Broker sentenced for selling fake builders’ cover
14 January 2025
An unauthorised broker who sold fake builders’ warranty insurance to NSW construction companies has been fined $8000 and sentenced to 16 months’ imprisonment...
AIG hires former VP for regional agency role
14 January 2025
AIG says former senior VP Gany Subramaniam, who left the insurer in 2019, has rejoined as head of agency and partnership distribution for the Asia-Pacific region...
ARPC, university join forces for cyclone resilience research
14 January 2025
The Australian Reinsurance Pool Corporation has teamed up with the University of Queensland on a three-year resilience study, and has confirmed that all insurers required to participate in its cyclone pool have now joined...
Traveller’s injury falls short of disability definition
14 January 2025
A claimant who suffered a serious ankle injury while boarding a plane has lost his bid for a permanent disability benefit after the dispute authority found the injury does not meet his travel policy requirements...
LA disaster tipped to break wildfire loss record
13 January 2025
The Los Angeles wildfires could cause record insured losses of at least $US20 billion ($33 billion) based on preliminary estimates, as the winter disaster further highlights the implications of rising catastrophe risks...
Quake experts raise risk prediction for Darwin, Victorian region
13 January 2025
Geoscience Australia has identified Darwin and parts of Victoria’s highlands as areas facing increased risk of strong ground shaking in its updated National Seismic Hazard Assessment...
Envest buys into NZ underwriting agency
13 January 2025
Envest will take a “significant” stake in Ando Insurance Group, a New Zealand underwriting agency with more than $NZ500 million ($451 million) in annual gross written premium across personal and commercial lines...
IAG locks in cat reinsurance
13 January 2025
IAG has placed its major catastrophe reinsurance program for the calendar year, with cover obtained for two events up to $10 billion...
First regulatory road map gives clearer view of reforms
20 December 2024
The federal government has released the first edition of its Regulatory Initiatives Grid, setting out reforms on the agenda at key agencies that are likely to affect insurers...
Restoration trade body signs up another insurer
20 December 2024
RACQ Insurance has become an associate member of the Restoration Industry Association of Australasia – the second Australian insurer to do so after Suncorp joined last week...
Building consultants call for tweaks to expert report standard
20 December 2024
The Association of Insurance Building and Engineering Consultants has suggested three ways to improve the recently launched best practice standard for expert reports...
Double trouble: no cover after ‘distressing’ car repair saga
20 December 2024
A vintage car owner who accused two repairers of stealing and maliciously damaging his vehicle has lost a claims dispute after failing to establish a valid loss under his insurance...
IAG heads up battery risk study as EV market grows
19 December 2024
IAG will lead a global research project to “debunk misconceptions” about lithium-ion battery fires and establish guidelines for everyday use and storage...
New network offers financial advice for ARs
19 December 2024
A new authorised representative network, repX, is offering members financial advice for their businesses in addition to typical broking-related support services...
Employer fails to show ‘loss’ after wages row
19 December 2024
A real estate agency that underpaid its workers has been told to cover the cost of meeting their wage entitlements itself, after a failed bid to trigger a management liability policy...
Sum insured ‘irrelevant’ in gold necklace dispute
19 December 2024
A man who lost a gold necklace he insured for $31,500 rejected his insurer’s offer to pay him just over $15,000...
ICA makes ‘phased response’ to floods inquiry, code review final report
18 December 2024
The Insurance Council of Australia says it supports 78 recommendations from the federal floods inquiry and the independent review of its code of practice, offering an initial response as it continues to work through more challenging proposals...
PSC owner ends ‘pivotal year’ with US investment deal
18 December 2024
Ardonagh Group says it is “well placed” for more growth after securing an investment from Stone Point Capital, a US private equity firm with more than $US55 billion ($86 billion) of assets under management...
Court rejects proportionate liability defence over building defects
18 December 2024
The High Court has made a key judgment on building defect liability in a dispute involving problems at a North Sydney strata complex...
INsight podcast: ASIC's investigation into Steadfast employees
18 December 2024
ASIC's investigation into the trading of Steadfast shares by two of the group's employees is the main topic of discussion on the latest episode of the Insurance News podcast...