Daily
Marine cargo rates set to rise as losses mount: Aon
06 May 2021
General rates for marine cargo in Australia are set to rise by as much as 10% over the next two years, driven in part by growing market losses, Aon says in a quarterly update...
Insurer wins dispute over claim to fix 40-year-old carport, patio
06 May 2021
A new property owner seeking rectification costs from his insurer for a carport and patio addition made in 1979 has lost a claim dispute...
New disaster agency gains $600 million mitigation funding
05 May 2021
The Federal Government says $600 million will be invested in a new disaster preparation and mitigation program to be managed by a National Recovery and Resilience Agency...
QBE reiterates climate commitment, raises management gender targets
05 May 2021
QBE Insurance Group is pushing ahead with the “orderly transition” of its business towards climate goals set by the Paris Agreement and is aiming to have more women in its leadership and board ranks, Chairman Mike Wilkins told shareholders at today’s AGM...
166kmh in a 40 zone: 'reckless' driver loses claims dispute
05 May 2021
A driver estimated to have been travelling at 166kmh seconds before colliding with another vehicle in a 40kmh zone has lost his claim dispute with Suncorp...
INsight podcast: pool announcement makes waves
05 May 2021
The long-expected confirmation of a government cyclone reinsurance pool is the focus of the latest edition of the Insurance News podcast...
Insurers pledge to work with Treasury on reinsurance pool design
04 May 2021
The Insurance Council of Australia says the industry will work with a Treasury-led taskforce on the design and operation of a cyclone-region reinsurance pool that will come into effect from July next year...
Latest Marsh index suggests 'turning point' in pricing
04 May 2021
Commercial rates in the Australia-led Pacific region and globally grew at a slower pace in the three months to March, according to Marsh, raising expectations that the market may have peaked after several quarters of record-breaking increases...
Aon launches D&O exposure modelling service
04 May 2021
Broker Aon announced today the launch of a shareholder class action exposure modelling service, responding to clients’ need for support to manage the challenging directors’ and officers’ insurance market...
Theft of $50,000 truck covered despite key left with vehicle
04 May 2021
The Australian Financial Complaints Authority has ruled a truck theft claim lodged with HDI Global Specialty should be paid even though the key was left with the vehicle when it was parked in the street overnight...
Insurers may face series of BI class actions
30 April 2021
Gordon Legal says it is looking at launching a series of class actions against multiple insurers after being contacted by hundreds of firms over unpaid business interruption claims...
icare reform execution 'sloppy', review finds
30 April 2021
NSW state insurer icare introduced reforms too quickly and without adequate testing while showing disregard for “proper and prudent” procurement practices, independent reviewer Robert McDougall says in a report released today...
Genworth returns to profit as house prices jump
30 April 2021
Genworth Mortgage Insurance posted a $34.8 million underwriting profit in the first quarter as strong house prices and a robust economy boosted uptake of home loans and also improved the outlook for claims...
AFCA rules funeral insurer 'deceived' 70-year-old Indigenous man
30 April 2021
A 70-year-old Indigenous man, who is dependent on Centrelink benefits and never really learnt to read or write, was duped into buying a funeral insurance plan from Aboriginal Community Benefit Fund and is entitled to a full refund for premiums he has paid, a ruling has found...
'Show cause' power sought for resources sector cover denials
29 April 2021
The Australian Small Business and Family Enterprise Ombudsman has proposed a power that could require insurers to “show cause” when they decline cover in areas such as the resources sector and live animal exports...
Senators call out 'unacceptable' insurance crisis in north
29 April 2021
A Senate-appointed Select Committee has described as “unacceptable” catastrophe-prone northern Australia’s deteriorating insurance affordability crisis, warning “inaction” to adopt mitigation measures as proposed by multiple inquiries cannot go on indefinitely...
Mechanic on disability benefits unstuck by surveillance
29 April 2021
A mechanic being paid disability benefits who said his business was able to keep earning close to $200,000 annually because his wife, friends and family worked as unpaid volunteers after he was injured has lost a dispute with his insurer, which filmed him working on cars and caravans and lifting heavy items...
Climate index: summer brings lower highs but higher lows
29 April 2021
The highest summer temperatures recorded in Australia this year were below average for the first time since 2012, the latest Australian Actuaries Climate Index reveals, but an increase in the lowest temperatures indicated ongoing climate warming...
Hollard names new CEO as Enthoven focuses on holding company
28 April 2021
The Hollard Insurance Company says personal lines chief Paul Fahey will take over from CEO Richard Enthoven, who is stepping down to focus on his role as MD of Hollard Holdings Australia, the group’s holding company...
Steadfast raises earnings forecast on strong year-to-date performance
28 April 2021
Steadfast Group announced today the business has performed strongly during the nine-month period to March 31, prompting the broker network to again revise upwards its earnings outlook for this financial year...