Daily
Natural disasters key issue for brokers: SME Index
18 May 2021
Satisfaction levels on natural disaster claims handling are significantly lower than for general claims but businesses that use brokers feel better informed about possible impacts from catastrophes, the latest release of data from the annual Vero SME Insurance Index shows...
Broker says WA must be part of affordability solutions
18 May 2021
The Federal Government must ensure its reinsurance pool and measures to improve affordability include a focus on problems in WA and the NT, a Broome broker says...
Brokers fend off criticism of commissions
14 May 2021
The National Insurance Brokers Association has renewed its defence of the commission model, pushing back claims that it is a form of “conflicted remuneration” that may lead to adverse outcomes for consumers...
COVID BI claims impact 'could hit NZ insurers'
14 May 2021
New Zealand insurers could be affected by court rulings on business interruption claims in other jurisdictions, a report from the Reserve Bank of New Zealand says...
IAG wins dispute over $17,000 short stay rent loss
14 May 2021
Holiday rental landlords who lodged a claim for $17,646 for loss of rent after guests cancelled bookings due to government-imposed COVID restrictions over four months early last year have lost a dispute with IAG...
NSW motor injury legislation set for review
14 May 2021
The NSW Government has appointed Clayton Utz and Deloitte to review the state’s compulsory third party insurance arrangements and the effectiveness of the scheme...
Aon, WTW to sell $4.6 billion in assets to Gallagher
13 May 2021
Aon and Willis Towers Watson have agreed to sell the Willis Re reinsurance business and certain UK, European and North American operations to Arthur J. Gallagher for $US3.57 billion to secure European regulatory approval for their merger...
Adani slams insurers for 'boycotting' coal
13 May 2021
The Adani Group has hit out at Australia’s three major insurers for refusing to underwrite the thermal coal industry in future as its controversial Carmichael mine in Queensland struggles to secure compulsory insurance for the construction of a rail line...
Niche skills in short supply as closed borders hit recruiting
13 May 2021
An inability to secure work visas for candidates located outside Australia is hampering the ability of insurance companies to source specialised experts, and recruiters say demand will only intensify for niche and experienced insurance professionals...
QBE business interruption test case set for July
13 May 2021
QBE’s business interruption test case involving Educational World Travel and Victorian property law is set to be heard by the Federal Court in July...
Federal Budget provides $1.2 billion to build resilience
12 May 2021
The Federal Budget has allocated $1.2 billion for measures to improve resilience, including the Government’s new mitigation program and spending on natural disaster responses...
Austbrokers acquires 50% stake in loss adjuster
12 May 2021
Austbrokers has acquired a 50% stake in YDR Chartered Loss Adjusters, an independently owned insurance service provider of loss adjusting, engineering and surveying expertise...
Hotel's COVID rent drop an uninsured lease matter: AFCA
12 May 2021
A landlord who agreed to accept a reduced rate of rent from his hotel-operator tenant when COVID restrictions ate into guest bookings has lost a claim dispute with his insurer...
INsight podcast: the future of dealing with natural disasters
12 May 2021
The Insurance News podcast focuses on two major industry talking points of the last decade that have come to a head in recent days – reinsurance pools and significant investment in disaster mitigation measures...
Businesses not confident on 'evolving' cyber threat: Gallagher
11 May 2021
Businesses are often not confident their systems are protected from sophisticated cyber criminals and many aren’t sure their data breach response plan meets requirements, a Gallagher Australia report has found...
Suncorp ready for 'active role' in reinsurance pool design
11 May 2021
Suncorp CEO Steve Johnston has voiced support for the Federal Government’s $10 billion guarantee to set up a cyclone reinsurance pool for northern Australia, saying the insurer is keen to use its knowledge of the region to help with the design of the scheme...
AFCA decision on Allianz add-on complaints sparks debate
11 May 2021
The Australian Financial Complaints Authority has defended its decision not to determine car dealer add-on insurance cases if the complainants have not opted out of a class action lodged against Allianz, dismissing as “without merit” criticism from claims management firm Claimo that the move was unfair to its clients...
Funds released for 22 flood mitigation projects
11 May 2021
The Federal Government has identified 22 flood mitigation projects around the country that will share $50 million released from the Emergency Response Fund...
Reinsurance pool: will it work, and is it fair?
07 May 2021
The Federal Government’s $10 billion cyclone reinsurance pool has been widely and publicly welcomed by the insurance industry – but not so very long ago there was almost universal opposition...
Fire caused by tenant's cannabis cultivation 'not covered'
07 May 2021
The Australian Financial Complaints Authority has upheld a decision by Commonwealth Insurance to decline a claim for fire damage at an investment property that was likely caused by electrical equipment installed by the tenant for cultivating cannabis...