Daily
QBE to pay compensation after handling family's claim 'poorly'
09 February 2021
QBE must pay $2000 to the parents of a young child after the family faced repeated delays and unsafe living conditions during rectification for damage caused by a leaking hot water system...
Victoria secures PI cover for cladding repair program
09 February 2021
The Victorian Government has arranged $6.9 million professional indemnity insurance coverage for surveyors, project managers and other contractors carrying out the state’s $600 million cladding rectification works in affected high-rise buildings...
APRA highlights 'significant' insurer risks, flags greater involvement
05 February 2021
The Australian Prudential Regulation Authority warns general insurers face “significant risks” and says it will play a more prominent role in engaging on “challenging issues” in future...
University-linked college aims to lift insurance standards
05 February 2021
The Australian College of Insurance Studies is set to launch its first online and on-campus law courses through the University of Western Australia and the University of Queensland as it seeks to fill an education gap and raise standards...
WA fire losses top $40 million, catastrophe declared
05 February 2021
Insured losses from the Perth Hills bushfires have reached more than $40 million, with the total expected to rise in coming days as residents return to their properties following evacuations...
Latest Climate Index affirms extreme weather trend
05 February 2021
Conditions last spring exhibited “extreme weather” elements, pushing the Australian Actuaries Climate Index to a reading of slightly above 0.6, its highest ever value for the season, according to an update released today by the Actuaries Institute...
ICA releases detail on second BI test case
04 February 2021
The Insurance Council of Australia has provided a summary of current legal action aimed at clarifying COVID-19 business interruption claims – including more detail about the proposed second test case...
Pacific prices continue surge: Marsh index
04 February 2021
Commercial pricing in the Australia-dominated Pacific region surged 35% in the fourth quarter as an upward trend accelerated, the latest Marsh Global Insurance Market Index shows...
Roo must be joking: crash claimants fail to pin blame on marsupials
04 February 2021
The Australian Financial Complaints Authority has backed insurers in three vehicle claim disputes lodged by customers who blamed the sudden appearance of kangaroos for them losing control and crashing into trees...
Dianne Phelan appointed NIBA president
04 February 2021
The National Insurance Brokers Association has appointed BJS Insurance Group Operations Manager Dianne Phelan as President effective from today...
PSC expects strong first-half earnings results
03 February 2021
PSC Insurance Group says today the business expects to report a more than 50% jump in underlying pre-tax earnings when its half-year financial results are released on February 22...
WA fire destroys more than 70 homes as threat continues
03 February 2021
The number of homes destroyed by bushfires near Perth has risen above 70 as strong winds and difficult terrain threaten to cause further property damage...
Insurers 'ditch one-stop-shop providers for niche specialists'
03 February 2021
Insurers are opting to select an array of expert technology suppliers instead of relying on a single general provider, insurance consulting firm Xceedance says...
Driver loses dispute over car stolen during coffee stop
03 February 2021
A man who stopped to make a coffee at a service station at 3am and emerged to find his vehicle gone will not have his claim paid after losing a dispute with his insurer...
Homes destroyed in WA bushfire
02 February 2021
A bushfire burning out of control near Perth may have destroyed at least 30 homes as firefighters continue to battle the flames and aerial support is sent to protect crews and properties...
Swiss Re Corporate Solutions local head leaves for UK role
02 February 2021
Swiss Re Corporate Solutions has appointed Country Head Australia and New Zealand Melanie Slack, who is based in Sydney, to a new posting in London with responsibility for the business in the UK, Ireland and South Africa...
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...