Daily
Dairy class action turns sour for AIG
06 April 2021
The Federal Court has found against AIG after the insurer argued the company securities part of its policy didn’t cover class action claims related to the Murray Goulburn dairy group...
Make 'overlooked' secondary perils a priority: Swiss Re
06 April 2021
Risk assessment efforts need to be rebalanced to make secondary perils such as severe storms, floods and bushfires a higher priority, Swiss Re’s latest Sigma report warns...
April fools? Email error drama at Insurance News
01 April 2021
Apologies to subscribers who received an insuranceNEWS.com.au email this morning inviting them to subscribe. No, it wasn’t an April Fool’s joke, as some of you suggested...
Auto & General announces CEO exit
01 April 2021
Auto & General local CEO John Myler has resigned after 15 months in the role and a comprehensive search for his replacement will be conducted in coming months...
NIBA CEO set to retire this year
01 April 2021
National Insurance Brokers Association CEO Dallas Booth will retire from the role “later this year” after more than a decade...
Lloyd's reports loss, ups COVID payout estimate by $2 billion
01 April 2021
Lloyd’s suffered an £887 million loss last year and substantially increased its payout estimate for COVID-related claims...
Intermediaries invoiced $14.85 billion in December half
31 March 2021
General insurance intermediaries invoiced about $14.85 billion of premium in the six months to December 31, up from $13.67 billion in the corresponding period a year earlier, according to figures released today by the prudential regulator...
Suncorp flooding claim costs may reach $250 million
31 March 2021
Suncorp says net claims costs related to heavy rainfall and flooding across NSW, southeast Queensland and Victoria are likely to reach $230-250 million based on a preliminary assessment of damage...
Tyre check can reveal claims profile of truck operators: NTI
31 March 2021
The most telling signal for how often a heavy transport vehicle operator is likely to claim, and how costly claims will be, is the condition of the fleet’s tyres, an ambitious study examining ten key truck maintenance requirements concludes...
INsight podcast: Suez Canal blockage adds to reinsurer woes
31 March 2021
The grounding of the massive container ship Ever Given in the Suez Canal provided the central discussion point for this week’s Insurance News podcast...
Flooding catastrophe to hit earnings: AM Best
30 March 2021
The flooding catastrophe in NSW and southeast Queensland will put pressure on insurers’ underwriting results and dampen earnings this year, AM Best says...
Ardonagh sees expansion ‘at pace’
30 March 2021
UK-based Ardonagh Group, which this year bought a majority stake in Australian authorised representative network Resilium, has outlined plans to pursue growth opportunities as it builds on acquisitions over the past year...
Suez Canal blockage could result in ‘large loss event’
30 March 2021
Fitch Ratings has warned the reinsurance industry faces a “large loss event” from the blockage in the Suez Canal after the colossal Ever Given container ship ran aground about a week ago, closing access to one of the world’s most vital waterways for global trade...
Suncorp business claimant wins dispute over loss of perishable food stock
30 March 2021
A Suncorp business insurance policyholder who made an unsuccessful claim for loss of perishable food stock caused by the COVID lockdown last year, has won a complaint against the insurer...
Flooding loss estimate rises to $385 million
26 March 2021
Losses from the flooding catastrophe in NSW and southeast Queensland have reached $385 million, the Insurance Council of Australia estimates as improving conditions allow clean-up and support efforts to accelerate...
UK business interruption payments flowing, regulator says
26 March 2021
Business interruption payments totalling £471.9 million have been made so far to policyholders who have had claims accepted by insurers affected by the recent UK test case decision, the Financial Conduct Authority says...
Financial firm loses dispute over motor policy confusion
26 March 2021
A finance company has been ordered to pay for repairs to a client’s car after she unexpectedly had no comprehensive motor insurance after an accident, despite that cover being a requirement of a loan that had been set up...
Talking commissions: podcast examines broker remuneration review
26 March 2021
An in-depth Insurance News podcast has addressed the issue of broker commissions, which will soon come under the spotlight as part of a Kenneth Hayne-inspired review...
High Court to hear first BI test case appeal arguments
25 March 2021
The High Court of Australia has agreed to hear oral arguments supporting an insurance industry application to appeal the first business interruption test case ruling...
Amusement operators seek Government backing for mutual scheme
25 March 2021
A non-profit body representing amusement, leisure and recreation operators has met this week with the Morrison Government to drum up support for a mutual scheme to address the public liability insurance crunch facing its members...