Daily
Court refuses last-minute trade credit extension
04 March 2021
Financial company Greensill has failed in last-minute NSW Supreme Court action taken to avert the expiry of trade credit insurance policies that had provided $US4.6 billion in cover...
French bulldog owner wins $6000 over reneged 'lifetime cover' promise
04 March 2021
A woman promised lifetime cover for her French bulldog has won a claim dispute after an insurer withdrew from selling pet cover and declined to renew her year-old policy...
Broker axed after being found liable for $3.4 million building defects
03 March 2021
Authorised representative group UIG has terminated its relationship with a broker after a court found she engaged in “misleading and deceptive” conduct years before she started working with the network...
Honan acquires Bovill Risk & Insurance
03 March 2021
Honan Insurance Group has acquired professional indemnity and construction specialist Bovill Risk & Insurance Consultants...
PSC buys another two UK brokers for $66 million
03 March 2021
PSC Insurance Group announced today the acquisitions of two UK commercial brokers for $66 million, further expanding its presence in a market where it has invested heavily in the last few years...
INsight podcast: business interruption claims continue to cast a cloud
03 March 2021
The increasingly complex COVID-19 business interruption legal battles, and their impact on insurer earnings, were the focus of this week’s Insurance News podcast...
APRA keeps eye on insurance affordability pressures
02 March 2021
The Australian Prudential Regulation Authority says it is taking a close interest in underinsurance issues and affordability as part of its role in ensuring financial stability...
'Suicidal' claimant loses motor dispute
02 March 2021
A complainant who claimed he suffered a “psychotic” episode that led him to deliberately crash his car into a wall has lost his bid for compensation from his insurer...
icare review calls for revamped relationship with scheme agents
02 March 2021
icare needs to develop more detailed “procedures and principles” to enable better oversight of external agents that are appointed to handle claims on behalf of the workers’ compensation Nominal Insurer scheme, according to a review commissioned by the board of the NSW state insurer...
Cyclone threatens north Queensland coast
02 March 2021
Tropical Cyclone Niran has reached category 2 and is expected to intensify further, the Bureau of Meteorology says...
ICA slams calls for business interruption class action participants
26 February 2021
The Insurance Council of Australia has criticised proposed COVID-19 business interruption class actions, labelling them “premature” while test cases on the issue are still active...
Wivenhoe class action partially settled for $440 million
26 February 2021
The Queensland Government and its statutory body, SunWater, have agreed to settle the Wivenhoe and Somerset class action for $440 million, law firm Maurice Blackburn announced today...
Consumers embrace 'personalised-pricing' trend: Accenture
26 February 2021
More consumers are willing to share significant data on their health, exercise and driving habits in exchange for lower insurance pricing, an Accenture survey of almost 50,000 people reveals...
Insurer must pay for matching kitchen cabinets
26 February 2021
An RACQ Insurance policyholder who disagreed with the insurer’s proposed method of repair for her kitchen after it had been damaged by a water leak has won her case before the financial dispute resolution body...
icare appoints top executive for Nominal Insurer
25 February 2021
NSW insurer icare has named Mary Maini as Group Executive responsible for the Nominal Insurer, the state’s largest workers’ compensation scheme...
Bushfire clean-up funding will boost insurance benefits: ICA
25 February 2021
An $18 million bushfire debris removal initiative in WA will maximise insurance benefits for Perth Hills residents impacted by this month’s bushfires and has been welcomed today by the Insurance Council of Australia...
Fire potential remains despite La Nina rains
25 February 2021
Wetter conditions brought on by La Nina have not entirely extinguished the threat of bushfire breaking out this coming autumn, according to a report released today...
Theft claim denied after man insured car in father's name
25 February 2021
A man who insured his BMW X5 in his father's name for $39,000 via a broker has lost a claim dispute after the duo reported the car stolen...
Steadfast buoyant after first-half gains
24 February 2021
Steadfast says it is on track to deliver full-year earnings at the top of its guidance range based on a stronger first-half trading result and acquisitions...
Industry faces 'bumpy ride' as COVID fallout drags on: S&P
24 February 2021
S&P Global Ratings expects this year to remain challenging for Australia’s property and casualty insurers, citing potential COVID-related business interruption claims as among the key risks facing the sector...