Daily
Insurers told to ‘step up’ as ASIC flags complaint failings
05 December 2024
The Australian Securities and Investments Commission is considering regulatory action over complaints handling failings after a review found insurers are not meeting obligations...
Warning over ‘flow-on effect’ as mental illness surges
05 December 2024
An “unprecedented” surge in mental health claims could have dire consequences for affordability and availability of cover, the Council of Australian Life Insurers warns...
RAC Insurance under strategic review
05 December 2024
WA motoring group RAC has confirmed a strategic review of its insurance business is under way as it looks to improve services for members...
‘Difficult decision’: state strata commissioner steps down
05 December 2024
NSW strata commissioner John Minns has announced he will leave the job after reaching the “limits of what is possible without adequate budget or resourcing”...
Simple advice reforms target ‘unacceptable status quo’: minister
04 December 2024
Assistant Treasurer Stephen Jones has provided more detail on the federal government’s plan for a new simple advice model that will change how general insurers engage with customers...
Bakery owner faces arson, fraud charges after fire claim
04 December 2024
Police in WA have charged a 50-year-old woman over allegations she set fire to her bakery to obtain an insurance payout...
Insurer avoids payout over ‘oven effect’ on containers
04 December 2024
A business owner will not be covered for heat damage to pool covers stored in shipping containers after the dispute authority backed his insurer’s application of a policy exclusion...
INsight podcast: personal lines giants motor ahead
04 December 2024
IAG and Allianz deals to acquire RACQ Insurance and RAA Insurance respectively are the main topic of discussion on the latest episode of the Insurance News podcast...
IAG eyes more M&A moves for ‘sub-scale participants’
03 December 2024
IAG will consider further merger and acquisition opportunities following the $855 million RACQ insurance deal announced last week, CEO Nick Hawkins says...
Trowbridge backs Steadfast strata action, but flags commission sharing stalemate
03 December 2024
Steadfast today released an update on action taken on strata – and published a report from consultant John Trowbridge on the measures it has introduced...
General insurance products notch most complaints as internal dispute data revealed
03 December 2024
General insurance products chalked up the most complaints tracked by the financial services sector’s mandatory internal dispute resolution regime...
Suncorp calls in Duck Creek to replace legacy IT systems
03 December 2024
Duck Creek Technologies will steer a multi-year program to modernise systems at Suncorp and replace legacy equipment with cloud-based solutions...
Analysts unsure if IAG-RACQ deal will pass regulator
29 November 2024
The Australian Competition and Consumer Commission will take a close look at IAG’s proposed $855 million RACQ Insurance deal, with analysts warning it is not certain it will be allowed...
Ivory picks former PSC chief for top job
29 November 2024
Ivory Insurance has appointed David Hosking as chief executive...
Landlord wins dispute over break-in at empty home
29 November 2024
The complaints authority has told RAC Insurance it cannot decline a landlord’s break-in claim despite her failure to disclose the property was unoccupied...
AEI motors ahead with bus specialist acquisition
29 November 2024
AEI Insurance Group has acquired bus and coach industry specialist BusInsure as it strengthens its presence in the heavy motor sector...
IAG eyes Queensland growth with $855 million RACQ deal
28 November 2024
IAG says the RACQ Insurance acquisition, announced today, builds on its history with motoring organisations and will open the door to opportunities in the fast-growing Queensland market...
ICA strata action plan targets fee transparency
28 November 2024
The Insurance Council of Australia has pushed for full transparency and disclosure on strata commissions and fees as one of 17 recommendations made in a policy paper released today...
‘More work to do’ as icare reports loss
28 November 2024
The icare nominal insurer workers’ compensation scheme recorded a net loss of $1.877 billion last financial year, hit by an increasing number of psychological injuries...
Buyer denied theft payout over phantom car deal
28 November 2024
A motorist who claimed for the alleged theft of a car he bought from a private seller will not be covered after he could not show he owned the vehicle...