Daily
Reinsurance taskforce discussions kept under wraps
24 August 2021
Panels to provide advice on the planned Northern Australian cyclone reinsurance pool are being tapped for regular input as Treasury keeps a tight hold on information as it works to deliver the project by the middle of next year...
Insurance arm fuels Johns Lyng earnings rise
24 August 2021
Johns Lyng Group today reported double-digit increases in full-year earnings, underpinned by strong performances from its core insurance building and restoration services arm...
Chubb loses claim dispute over payroll fraud
24 August 2021
Chubb must payout an additional $225,420 after losing a claim dispute over the misappropriation of large sums over six years by a senior payroll officer...
Steadfast's Mansions acquires AIG prestige portfolio
20 August 2021
Steadfast underwriting agency Mansions of Australia has bought exclusive renewal rights to AIG’s home and contents portfolio for high and ultra-high net worth individuals...
Suncorp CEO joins ICA board
20 August 2021
Suncorp CEO Steve Johnston has joined the Insurance Council of Australia board amid a number of changes announced today after the August meeting...
Mansfield Awards return to online event
20 August 2021
The annual Mansfield Awards for Claims Excellence will take place on September 16, with the event being held online for the second successive year...
Suncorp offers $1 million in grants to rebuild after disasters
20 August 2021
Suncorp is pledging $1 million in grants to encourage remote, rural and regional communities in Australia to rebuild more resiliently in preparation for future disasters...
Driver’s criminal record sparks dispute
19 August 2021
Auto & General has won a dispute centring on the denial of an accident claim due to the driver’s undeclared criminal record, despite the insurer having details from a previously refused application for cover...
AGL offers Honey home insurance to customers
19 August 2021
Power company AGL is investing $3 million in Honey Insurance and offering the insurtech’s products to customers building a new home, or renting...
Fast Cover Travel, Upcover win Finder awards
19 August 2021
Fast Cover Travel Insurance has taken out comparator Finder’s 2021 Best Insurance Innovation award while Upcover took this year’s honours for Best Insurtech Innovation...
Workers' comp fraudsters to return $80,000
19 August 2021
WorkSafe Victoria says two men caught separately receiving benefits from the workers’ compensation scheme while working will have to return more than $80,000 between them, after they pleaded guilty in court...
ICA pushes further add-on regulation changes
18 August 2021
The Insurance Council of Australia has proposed further changes to deferred sales model draft regulations, arguing rules hammered out after previous consultations are still unnecessarily sweeping up business clients and posing problems for buyers of boats and livestock...
Compensation scheme fails to address 'moral hazard': brokers
18 August 2021
The National Insurance Brokers Association says it has “several concerns” with the proposed compensation scheme of last resort, including the failure to address the issue of “moral hazard”...
Man loses claim dispute over stolen $39,000 gold watch
18 August 2021
A man who removed his Omega Constellation Co-axial 18 carat gold watch and hid it in his car to avoid unwanted attention while visiting a busy pie shop during an afternoon of sightseeing in NSW has lost a theft claim dispute with Lloyd’s...
INsight podcast: how Steadfast captured Coverforce
18 August 2021
Steadfast's $400 million acquisition of Coverforce dominates discussion on the latest edition of the Insurance News podcast...
Former Resilium AR battles over clients
17 August 2021
A former Resilium authorised representative that had its agreement terminated following insurer concerns over motor policy details is claiming a breach of client portfolio obligations in a dispute before the NSW Supreme Court...
PSC to acquire Alliance broking business for $24.5 million
17 August 2021
PSC Insurance Group will acquire the broking business of Alliance Insurance Broking Services, which is selling the operations as part of undertakings it gave to the Federal Court, for $24.5 million...
Harden joins Guy Carpenter as Asia Pacific President
17 August 2021
Guy Carpenter has appointed Michael Harden as President of Asia Pacific, effective immediately, after the former Willis Re executive recently won a court battle clearing the way for him to join the reinsurance broking firm...
Home policy 'doesn't cover liability for fatal microlight crash'
17 August 2021
The Australian Financial Complaints Authority has upheld a decision by Suncorp to deny a customer’s claim for potential legal liability after a fatal aircraft accident, ruling the home and contents policy he held with the insurer excludes cover for business activities...
Campaigners flag concern as coal mutual plan progresses
13 August 2021
Environmental activists have urged the insurance industry and governments to snub plans to establish a mutual to provide cover for the Australian coal industry and its service providers...