Daily

ASIC sues AMP for charging deceased customers

27 May 2021

The corporate regulator has commenced civil penalty proceedings against a group of AMP-linked companies for allegedly charging life premiums and advice fees to more than 2000 deceased customers...

Andrew Mair joins Suncorp partner AMA Group

26 May 2021

Crash repairer AMA Group has appointed former Suncorp executive Andrew Mair to the newly created role of Chief Commercial Officer as it further consolidates its strategic relationships with key insurance customers...

Mouse exclusion wipes out air conditioner claim

26 May 2021

A woman who lodged a claim with RAC Insurance to recoup the cost of repairing her air conditioner has lost a dispute hinging on whether a hail storm or mice caused it to stop working...

Melbourne pubs, restaurants launch BI actions

25 May 2021

Hospitality enterprises including pubs and restaurants have launched proceedings in the Victorian Supreme Court over business interruption claims that have an estimated total value of about $20 million, legal firm Gadens says...

Australia rises in FM Global resilience rankings

25 May 2021

Australia’s resilience has improved as the country has rebounded strongly from COVID-19 impacts, while New Zealand has slipped after a reassessment of earthquake risk, an FM Global index shows...

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...

'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...

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...