Thousands of flood claims lodged in Victoria
18 October 2022
Insurers have received 5193 claims since October 12 from flooding across Victoria, Tasmania and lower NSW, which inundated homes and businesses in many riverside communities...
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Insurers to cover latest flood claims without reinsurance: S&P
18 October 2022
Australian-based insurers will be able to largely self-finance claims from the latest Victorian, northern Tasmania and NSW flooding without drawing upon catastrophe reinsurance, but the event will still have implications for availability and affordability pressures, S&P Global Ratings says...
Rolling down that hill: driver wins dispute over alleged fraud
18 October 2022
A driver whose car rolled down a cliff after his handbrake failed to hold has won his claims dispute after the Australian Financial Complaints Authority rejected his insurer’s allegations that the claim was fraudulent...
High Court BI decision 'significant milestone': ICA
14 October 2022
The High Court decision today against hearing further appeals on business interruption cover during the pandemic has largely drawn the industry test case process to a close, the Insurance Council of Australia says...
Record floods hit south east states
14 October 2022
Thousands of southern Australian residents are under evacuation orders after days of rain pushed rivers and creeks to break their banks, inundating hundreds of homes in record-breaking floods...
Lloyd's, Aon create industry forum in response to 'seismic' war
14 October 2022
The Russia-Ukraine war has turned into a “seismic” geopolitical event with knock-on, far reaching implications across the global risk landscape, Lloyd’s and Aon say in a joint report on the conflict...
Complainant loses 'misleading advice' cyber dispute
14 October 2022
A cyber-attack victim who alleged their insurer misled them into purchasing replacement equipment for which it was not covered will not be compensated after losing a claims dispute...
Tough reinsurance renewals set to extend hard market
13 October 2022
The expected tough January reinsurance renewals could extend the hard market for at least a year, Lloyd’s Regional Head of Australia and New Zealand Chris Mackinnon said...
Floods, heavy rain affecting Tasmania, Victoria, NSW
13 October 2022
Heavy rainfall has brought moderate to major flooding across several states and left thousands of homes without power as the threat of further wild weather today caused the Bureau of Meteorology to issue more warnings...
180 in a 50 zone: father loses claim appeal over son's 'reckless' driving
13 October 2022
A complainant whose vehicle was wrecked after his son crashed it will not be covered after a dispute ruling determined his insurer’s decision to rely on a “reckless driving” exclusion was valid...
QBE invests in local gamification crisis training startup
13 October 2022
Local start-up Iluminr has raised over $4.2 million in a capital raise led by QBE Ventures as it eyes the US market for its 15-minute resilience training microsimulations...
Melbourne on flash flood alert, Tasmanian highlands face 300mm deluge
12 October 2022
The Bureau of Meteorology says Tasmania, Victoria and NSW are in the firing line as widespread heavy rain and damaging winds descend, bringing potential for major flooding...
'Significant weaknesses': RACQ hit with enforcement action over risk governance issues
12 October 2022
The Australian Prudential Regulation Authority has taken enforcement action against RACQ Insurance, requiring the insurer to develop a program to improve its risk governance after a review this year uncovered “significant weaknesses”...
Insurer criticised for denying claim 'after costs increased'
12 October 2022
The Australian Financial Complaints Authority has slammed Allianz for accepting a home claim, starting work, and then denying it almost a year later as costs spiralled...
INsight podcast: dramatic severe weather season looms
12 October 2022
The Bureau of Meteorology's long range severe weather season forecast is the main topic of conversation on the latest Insurance News podcast...
Gallagher acquires Newcastle broker
11 October 2022
US broking giant Gallagher has made another acquisition in Australia, buying Newcastle-based McCluskey Insurance Brokers as the business continues to strengthen its market presence here...
Australia's cyber insurance market 'immature'
11 October 2022
The local cyber insurance offering is underdeveloped and reduced underwriting appetite and tougher terms has left most Australian businesses underinsured or not covered at all, industry law firms say...
Steadfast supports Indigenous opportunities program
11 October 2022
Steadfast has partnered with EM-Power Foundation on expanding opportunities for Indigenous people within the agriculture and food industry...
Take a bath: insurer forced to pay after failing to enforce tap exclusion
11 October 2022
A homeowner will be covered for damage caused by a running bath tap after a dispute ruling determined that her insurer failed to inform her about the exclusion it applied in its claim denial...
Resilium-backed Cornerstone acquires Brisbane brokerage
07 October 2022
Cornerstone Risk Group has acquired SureFinity Insurance Brokers, a Brisbane-based brokerage that specialises in “niche” industries such as leisure, amusement, recreation, sport and entertainment...