Daily
Queensland councils join forces in reinsurance pool push
02 February 2021
The Local Government Association of Queensland is today urging the Federal Government to set up a national reinsurance pool before the next disaster season to help cut the cost of soaring premiums in the state...
Thumb tip not a limb, AFCA rules in claim dispute
02 February 2021
AIG has won a claim dispute over a $25,000 policy benefit sought by a man who lost the tip of one of his thumbs during a circular saw accident in May...
Treasury consults over add-on deferred sales model exemptions
29 January 2021
A Treasury consultation will consider exemptions to the new deferred sales model for add-on insurance...
Policyholder fails to force insurer to pay for claim manager
29 January 2021
The Australian Financial Complaints Authority has ruled Suncorp does not have to cover a $50,000 fee paid by policyholders to someone they engaged to assist with a home storm damage claim after they were dissatisfied with the insurer’s response...
Beverage importer wins third-party claim dispute against CGU
29 January 2021
The Federal Court has ruled a beverage importer can rely on the meaning of "a third party beneficiary" as set out in the Insurance Contracts Act to claim under an Industrial Special Risks Insurance Policy issued by CGU...
IAG calls for automated vehicle makers to use standardised interface
29 January 2021
IAG says driverless car manufacturers must share vehicle use data and technical details if insurers are to continue offering cover...
Aon unveils post-WTW merger executive team
28 January 2021
Aon has announced the executive team that will lead the company under CEO Greg Case after completion of its $US30 billion merger with Willis Towers Watson...
Motor trader who blamed broker for 'inappropriate' policy loses complaint
28 January 2021
A complaint filed by a motor trader against PSC Reliance Franchise Partners, accusing the broker of failing to arrange an “appropriate” insurance policy, has been dismissed by the financial dispute resolution body...
Open, ahm agree car and home cover partnership
28 January 2021
Hollard-backed insurtech Open will administer two new general insurance products for health insurer ahm...
Victoria combats bushfire with cutting edge drone technology
28 January 2021
Drones featuring high-definition thermal imaging and live-streaming cameras have been added to Victoria’s bushfire defence arsenal...
Cyber rates rising as risks increase: Marsh
27 January 2021
Insurers have reduced cyber capacity limits on single risks while premium rises are set to continue after gains of 15-20% in Australia last year as demand for cover accelerates, Marsh says...
SME premiums almost flat, BizCover index shows
27 January 2021
SME insurance specialist BizCover says premiums of business policies sold through its online platform have hardly increased, contrary to what is being reported in the broader market...
Cover-More unscathed as ASIC, RBNZ investigate cyber breach
27 January 2021
Travel insurer Cover-More says it was not directly impacted by a cyber attack on software provided by Accellion...
IAG ethics adviser Mostyn among industry's Australia Day honours
27 January 2021
IAG Ethics Committee member and former group executive Sam Mostyn has been recognised in this year’s Australia Day Honours...
BI claims uncertainty ramps up insurer earnings pressure: Fitch
25 January 2021
A possible surge in COVID-19 business interruption claims adds to existing pressures on Australian general insurers’ earnings, Fitch warns...
Claimant who blamed bat for power surge loses insurance complaint
25 January 2021
A Suncorp contents insurance policyholder who believed a bat was responsible for a power surge that subsequently damaged his laptop and televisions has failed in his bid to have the insurer accept his claim...
Disaster-hit regions 'might never recover' without insurance
25 January 2021
Natural disaster mitigation is vital to keep insurance affordable, because without it regional communities may never recover, Suncorp says as it releases a new report today...
January hailstorm losses rise to nearly $1.9 billion
25 January 2021
Catastrophe data company Perils has finalised its overall loss estimate of several hailstorms that hit the eastern states in January last year, raising the value of claims accepted by insurers to $1.89 billion...
Nexus joins Insurance Advisernet
22 January 2021
Nexus Risk Services will join Insurance Advisernet under an arrangement agreed by the two Austbroker equity partners...
Businesses forced to close as 'insurance crisis' worsens
22 January 2021
A growing number of businesses are being forced to shutter because they can’t get public liability insurance which is mandatory for many of the industries they operate in, according to Australian Small Business and Family Enterprise Ombudsman Kate Carnell...