Daily
QBE customer compensated over 'unreasonable' fire claim delays
25 May 2021
A complainant whose claim for fire damage at his home went through “unreasonable” delays and took eight months to settle, causing him and his wife stress plus other mental health conditions, has won his dispute with QBE...
NSW insurance regulator names new CEO
25 May 2021
The NSW State Insurance Regulatory Authority has appointed Adam Dent as its new CEO, following the departure of Carmel Donnelly...
Treasury opens reinsurance pool consultation
21 May 2021
A Federal Treasury consultation paper on the Government-backed reinsurance pool for northern Australia has asked for feedback on whether insurer participation should be mandatory and how cyclone-related flood should be defined...
Tasmania's Ian Goninon wins NIBA broker award
21 May 2021
Capital Innovation Chairman Ian Goninon has been named this year’s Victorian/Tasmanian Broker of the Year by the National Insurance Brokers Association...
Driver loses claim dispute over preferred $16,000 car repair quote
21 May 2021
A Suncorp customer who insisted his vandalised car be sent to a repairer quoting more than $16,000 – almost twice that estimated by the insurer’s repairer – has lost a claim dispute...
Industry 'disappointed' with Victoria's insurance tax revenue increase
21 May 2021
The insurance industry has labelled as “disappointing” Victorian Government predictions of increased revenue from insurance taxes announced in the state's Budget yesterday...
'Underwriting consortia' among review's SME cover solutions
20 May 2021
A review of affordability and availability problems commissioned by the Insurance Council of Australia has suggested a Lloyd’s style multi-underwriter approach as one option for difficult SME risks, while government intervention is seen as a last resort...
Australia premium set for post-COVID bounce: Allianz
20 May 2021
The Australian general insurance market is set to grow at a faster pace this year, with property and casualty premium to increase 3.8% from 0.8% last year, Allianz says today...
Zurich's Tim Plant elected ANZIIF President
20 May 2021
Zurich Australia’s general insurance CEO Tim Plant has been elected President of the Australian and New Zealand Institute of Insurance and Finance...
Woman seeking storm payout at termite-riddled cabin loses dispute
20 May 2021
A woman claiming a branch fell on the roof of her cabin during a storm, blocking the gutter and causing water to spill into the home, has lost a dispute with QBE after a longstanding termite infestation was detected...
Law review aims to wind back complexity
19 May 2021
Financial laws have ballooned in complexity over the past two decades with the Corporations Act becoming a “Russian doll” of definitions within definitions, a review seminar has heard...
Fraudster caught working while receiving workers' comp payments
19 May 2021
A Victorian man caught earning more than $30,000 working as a driver and security guard while racking up workers' compensation payments has been fined and ordered to repay almost $50,000...
Roo collision claimant loses dispute over disclosure duty
19 May 2021
A woman whose claim for damage to her vehicle following a collision with several kangaroos was declined because she failed to comply with her duty of disclosure has lost her dispute with the insurer...
INsight podcast: coal, climate and insurance
19 May 2021
Australian insurers’ attitude to coal mining and associated projects is the focus of this week’s Insurance News podcast...
Vehicle theft reduction scheme to fold after ICA cuts funding
18 May 2021
The National Motor Vehicle Theft Reduction Council has announced that it will cease operations on September 30, after the Insurance Council of Australia pulled crucial funding...
Austcover, Regional Insurance Brokers agree to merge
18 May 2021
Steadfast-linked Austcover and Regional Insurance Brokers have agreed to merge, creating a “winning combination” to offer broking solutions to the Queensland market, they announced in a joint statement today...
Natural disasters key issue for brokers: SME Index
18 May 2021
Satisfaction levels on natural disaster claims handling are significantly lower than for general claims but businesses that use brokers feel better informed about possible impacts from catastrophes, the latest release of data from the annual Vero SME Insurance Index shows...
Broker says WA must be part of affordability solutions
18 May 2021
The Federal Government must ensure its reinsurance pool and measures to improve affordability include a focus on problems in WA and the NT, a Broome broker says...
Brokers fend off criticism of commissions
14 May 2021
The National Insurance Brokers Association has renewed its defence of the commission model, pushing back claims that it is a form of “conflicted remuneration” that may lead to adverse outcomes for consumers...
COVID BI claims impact 'could hit NZ insurers'
14 May 2021
New Zealand insurers could be affected by court rulings on business interruption claims in other jurisdictions, a report from the Reserve Bank of New Zealand says...