Daily
NZ flood claims to benefit from new EQC deal
21 July 2020
An agreement between the New Zealand Earthquake Commission and private insurers that aims to improve handling of flood claims is being triggered for the first time following storms in the north of the country that have been described as the worst in living memory...
'It's not over': QBE holds SME pricing as support continues
17 July 2020
QBE says it has held pricing on SME and commercial motor insurance as it continues to offer support to brokers and clients during the coronavirus pandemic...
BMS hires Aon trio to launch local energy division
17 July 2020
Broker BMS Group has appointed three experts from Aon to create a new energy division in Australia...
NZ agencies set up new peak body with UAC backing
17 July 2020
A group of New Zealand underwriting agencies announced today a new body has been set up to speak for the sector in the country, which has been represented by the Underwriting Agencies Council for the last five years...
WA brokerage expands east after recruiting from Gallagher
17 July 2020
Perth-based broker Mavco Insurance Group is expanding with the addition of a new office in Adelaide which it says will support a growing number of east coast clients...
'Take it or leave it': ISR, General Liability markets 'deteriorate'
16 July 2020
The Fire and Industrial Special Risk and General Liability sectors in Australia are under pressure with large losses and increasing litigation sending rates soaring, according to a second-quarter update from Aon...
Second COVID wave poses insurance risks, says S&P
16 July 2020
The resilience of the global insurance industry will be tested if a second wave of COVID-19 infections leads to economic disruptions that increase asset losses and claims, S&P says...
Finity warns against 'Medicare-style' insurance pricing
16 July 2020
Finity has cautioned against using a Medicare-style pricing model to tackle the growing premium affordability problem facing residents who live in areas that are prone to bushfires...
CBN wins dispute over equipment inside burnt truck
16 July 2020
Community Broker Network has won a dispute lodged by a client who accused the authorised representative group of failing to properly arrange business cover for his truck as instructed, and claimed it was liable when a fire destroyed the vehicle and its contents...
Law firm clarifies COVID comments after ‘intense debate’
15 July 2020
Sparke Helmore has issued a statement to clarify comments suggesting some Australian insurance businesses will go to the wall as a result of the COVID-19 pandemic...
Insurtech incubator to launch pay-as-you-drive motor product
15 July 2020
Insurance incubator Insurtech Gateway Australia has announced plans to introduce a pay-as-you-drive motor product in partnership with a Silicon Valley start-up specialist...
Gym loses dispute with broker over cyber scam loss
15 July 2020
Coverforce has won a dispute with a gym franchisee who argued insurance policies arranged by the broker should have provided cover for an email scam...
Autumn reprieve after Black Summer, Climate Index shows
15 July 2020
The nation’s weather largely returned to typical levels in autumn after the Black Summer’s destructive bushfires and storms, but a clear long-term trend towards more frequent extreme weather remains, the latest Australian Actuaries Climate Index reveals...
Allianz add-on customers sue for 'hundreds of millions'
14 July 2020
Allianz has been hit with a class action from customers who say they have been sold poor value add-on motor insurance and want “hundreds of millions” in compensation from the insurer...
AFCA rulings tackle alcohol travel exclusions
14 July 2020
The Australian Financial Complaints Authority has made clear insurers must prove a claimant is under the influence if they are to rely on exclusions for drugs and alcohol contained in standard travel insurance policies...
SA bushfire inquiry boosts ICA reform case
14 July 2020
SA’s independent inquiry into last summer’s bushfires has added momentum to the Insurance Council of Australia’s national campaign to ditch taxes that act as a disincentive against taking out cover...
icare warns of virus impact on return-to-work metrics
14 July 2020
NSW state insurer icare says the COVID-19 pandemic and related business disruptions will make it more difficult to achieve targeted 26-week return-to-work timeframes for injured employees...
'Insurance businesses will collapse' under virus pressure
10 July 2020
“Significant numbers” of Australian insurance businesses are likely to go under as the combined impact of COVID-19 claims and a global recession hits home, a law firm has warned...
Senator queries industry's 'deafening silence' on emissions
10 July 2020
A Senate inquiry hearing today into the 2019/20 bushfire season has called out insurers’ “deafening silence” on the urgency of cutting carbon emission levels, forcing the industry to defend its climate action stance...
Pandemic exclusion upheld in travel claim dispute
10 July 2020
Zurich’s application of a pandemic exclusion in denying a claim from a man who decided not to proceed with a planned trip to China in February has been upheld by the Australian Financial Complaints Authority...