Daily
ASIC 'waters down' add-on order: consumer groups
25 August 2020
Consumer groups say the Australian Securities and Investments Commission has “watered down” proposed orders tackling add-on insurance sold through caryards, and have criticised delays in measures taking effect...
RAA Insurance names new CEO
25 August 2020
RAA Insurance announced today Tom Griffiths will be promoted to CEO, taking over the role on September 1 from David Russell, who will begin his transition to retirement in a supporting role as GM of Services...
Suncorp rises to COVID challenge with 'sound' set of results
21 August 2020
Suncorp today reported full-year net income of $913 million, up from $175 million last year, but acknowledged comparisons are difficult given the divestments of its life business and crash repairer Capital Smart...
Casino group eyes legal action on BI
21 August 2020
The Star Entertainment Group is planning legal action over a business interruption claim for the shutdown of its casinos following Government-ordered closures earlier this year...
Suncorp ditches oil and gas, urges action on resilience
21 August 2020
Infrastructure projects to improve Australia’s resilience to natural disasters should form part of stimulus measures as governments look to help the economy recover from the COVID-19 pandemic, Suncorp says...
ASIC takes legal action against advisers over cyber failure
21 August 2020
The Australian Securities and Investments Commission announced today legal proceedings have commenced against RI Advice Group over its failure to take proper action to protect against cyber attacks...
Victoria extends rent increases, evictions ban
20 August 2020
Victoria has extended a ban on evictions and rental increases until the end of the year in a move that has implications for landlord cover that has been adjusted due to the COVID-19 outbreak...
Axa XL 'committed' to local financial lines despite London retreat
20 August 2020
Axa XL has dismissed speculation that it is pulling back from Australian financial lines, with the insurer confirming that it will continue to provide "best in class" solutions and accept new business...
IAG hit with 'special costs' order in motor accident claim dispute
20 August 2020
The ACT Supreme Court has issued a “special costs order” against IAG after the insurer rejected a $100,000 offer from a plaintiff to settle a car accident claim before the matter went to court for a resolution...
Cruise passenger left with large bill after being 'misled'
20 August 2020
A cruise passenger from SA who was airlifted by emergency helicopter to the Royal Hobart Hospital after suffering multiple heart attacks has failed to fully recover substantial costs despite being sold inappropriate insurance...
icare installs interim CEO
19 August 2020
icare has named Group Executive Don Ferguson as interim CEO and MD while the NSW state insurer begins the hunt for someone to fill the role following the departure of John Nagle...
Referee wants more add-on controls
19 August 2020
The Australian Financial Complaints Authority says a product intervention order proposed for add-on insurance sold with motor vehicles should ensure access to the external disputes body and enforce more compulsory disclosures...
NIBA names Broker of the Year contenders
19 August 2020
The National Insurance Brokers Association has named 13 regional finalists who are in the running to compete for the broking sector’s premier recognition, the Stephen Ball Memorial Award...
AFCA sinks cruisers’ COVID cancellation claim
19 August 2020
Southern Cross Benefits has prevailed in a dispute over its decision to deny a travel claim for losses incurred as a result of COVID-19, citing a pandemic exclusion in the policy...
Resilium reverses Coverforce transaction
18 August 2020
Resilium will repay $25 million in loans to Coverforce next year and have more than $8 million in profits returned in arrangements to finalise the reversal of funding and equity transactions related to the authorised representative (AR) network buyout...
US court rulings back insurers on BI claims
18 August 2020
US court rulings have backed insurers in denying COVID-19 business interruption claims due to an absence of direct physical losses, as the industry continues to come under pressure over the issue...
Bureau flags flooding, cyclone risk with La Nina alert
18 August 2020
The Bureau of Meteorology today issued a La Nina alert, confirming the chance of the flood-inducing weather system occurring this year has risen to 70% – about three times the normal likelihood...
Marsh appoints Scott Leney to regional role
14 August 2020
Marsh Australia CEO Scott Leney will move into the newly created role of Risk Management Leader for the Asia and Pacific regions starting next month...
ICA tenders for advice on 'actions of the sea'
14 August 2020
The Insurance Council of Australia’s Climate Change Action Committee is tendering for expert advice on the increasing threat from coastal erosion as land collapses highlight risks from rising sea levels...
NZ court rules IAG liable for separate quake claims
14 August 2020
The Court of Appeal in New Zealand has ruled against IAG in a dispute over whether the insurer could treat as “one event” the damages to a Christchurch property caused by two earthquakes in 2011...