08 November 2022
The protection gap for cyber crime risk is significant, with premiums amounting to just a fraction of total losses from cyberattacks and most firms either uninsured or significantly underinsured, a new Swiss Re Institute report says...
08 November 2022
Rising living costs have overtaken cyber security failures as the biggest worry for Australian business leaders, a global survey of executives carried out by Marsh McLennan and Zurich has found...
08 November 2022
A home contents insurance policyholder whose renewal was declined due to the number of claims she made will not be compensated after a dispute ruling determined that the insurer was entitled to follow its underwriting guidelines...
04 November 2022
Representatives of the caravan park industry say more work is needed to tackle insurance accessability as businesses struggle to afford soaring premiums...
04 November 2022
Reinsurance prices are set to continue to rise and retention levels will also increase in upcoming renewals following more challenging market conditions in the wake of Hurricane Ian and Australian flooding, Swiss Re says...
04 November 2022
PSC Insurance Group says it has a binding agreement to acquire the UK business of underwriting agency Ensurance after completing due diligence, after the planned investment was announced in July...
04 November 2022
Policy clarity around the risks covered is critical amid a rise in complaints this year related to natural disaster claims, Australian Financial Complaints Authority Lead Ombudsman Insurance Emma Curtis says...
03 November 2022
Australia has experienced a natural catastrophe “trigger event” that is transforming the approach to disaster resilience and recovery, the new head of the National Emergency Management Agency says...
03 November 2022
The industry has been put on notice to expect increased focus from regulators on a range of pressing issues including pricing failures, policy wording lapses, product designs, climate-fuelled weather events, risk oversight and claims handling delays...
03 November 2022
The owners of a stolen jet ski will not have their claim paid after a dispute ruling determined that their insurer was entitled to rely on policy exclusions related to the security of the vehicle’s storage...
03 November 2022
Lloyd’s-backed underwriting agency Agile has launched its casualty offering on its online Powered By Agile (PBA) platform, opening it up to more brokers...
02 November 2022
The Insurance Council of Australia has released a roadmap for insurers to meet emissions reduction targets and says it will advocate on behalf of members and their customers for policy settings that accelerate Australia’s transition to net zero...
02 November 2022
Gallagher Re says it's time for insurtechs to scrap the disruption agenda and embrace collaboration with incumbent insurers, and points to Australia as a shining example...
02 November 2022
Allianz is urging Australians to be “weather ready” as around 38% of its claims for home, building & contents so far this year relate to severe weather events...
02 November 2022
The Federal Budget and its focus on insurance is the main topic of conversation on the latest Insurance News podcast...
01 November 2022
The Quality of Advice Review has proposed keeping general insurance commissions exempt from the ban on conflicted remuneration, with an additional layer of protection for consumers requiring brokers to first obtain written consent from retail clients for commissions...
01 November 2022
NSW’s State Insurance Regulatory Authority has kicked off a series of audits to address concerns about the performance of the Nominal Insurer, which is managed by icare, and the time it is taking to implement case management improvement initiatives...
01 November 2022
Homeowners who had repairs to their roof left unfinished by insurer-appointed builders have successfully appealed their insurer’s decision to cash-settle the claim after a dispute ruling required the repairs be completed...
01 November 2022
Catastrophe data company Perils estimates losses from severe storms that lashed three southern Australian states with hail, heavy rainfall and wild winds a year ago at $972 million...
28 October 2022
The flood-hit NSW Northern Rivers region will receive $800 million in federal and state government funding for home-raising, retrofitting and buy backs, while in Queensland Suncorp and RACQ have entered into a partnership with the state’s $741 million program to improve household resilience...