06 May 2022
Supporting a sustainable cyber insurance market is a shared responsibility between insurers and policyholders, and organisations seeking coverage must demonstrate a dedication to mitigating the impact of third-party risk to maintain broad coverage, Marsh says...
06 May 2022
A man who said an unknown third party gained access to his worksite and maliciously damaged two excavators by putting sugar into the engines, causing them to fail, has lost a claim dispute...
06 May 2022
The Insurance Council of Australia will host a “virtual townhall” event next week to help east coast flood victims understand the claims process...
05 May 2022
QBE says the business has made a “strong start” to the new financial year, as first quarter gross written premium rose 19% in the three months to March from a year earlier...
05 May 2022
The Federal Court has today ruled that RI Advice breached the Corporations Act with inadequate cyber security measures, the first Australian Financial Services licensee to be so prosecuted...
05 May 2022
Land use planning is failing to protect properties from riverine and flash flooding after high intensity rainfall, as risks are underestimated despite the events representing one of the nation’s costliest extreme weather impacts, a research report released today by the Insurance Council of Australia says...
05 May 2022
Adani Australia has stepped up its push for a government-backed mutual scheme to address the insurance crisis facing the coal sector, raising the pressure on politicians as the country prepares to go to the polls in slightly more than two weeks’ time...
04 May 2022
Gallagher has sealed the acquisition of Melbourne-based Woodridge Insurance Services in a deal that closed this week...
04 May 2022
Disputes from the NSW/Queensland floods have risen to 135, with insurance-related claims matters accounting for the majority of cases, an update today from the Australian Financial Complaints Authority shows...
04 May 2022
A dog owner has been awarded cover for six of seven of the pet’s medical problems during a claim dispute hearing, with the industry adjudicator ruling conditions that arise and are treated during a policy waiting period are not always pre-existing...
04 May 2022
The global economic environment and what it means for insurers is the focus for the panel on the latest Insurance News podcast...
03 May 2022
Updated Insurance Council of Australia data on the storms and floods that impacted southeast Queensland and coastal NSW in February and March shows the event set a record to be Australia’s costliest flood ever...
03 May 2022
Australia faces the dire prospect of becoming an “uninsurable nation”, with more than half a million homes, or one in 25 properties, forced to go without insurance cover in eight years’ time because of climate change, a new report warns ahead of the May 21 federal election...
03 May 2022
Lismore City Council has proposed “a planned retreat” from high-risk residential areas, government-backed reinsurance protection for the central business district and consideration of a new commercial precinct as it seeks to avoid a repeating cycle of flooding devastation...
03 May 2022
Tools and measures relied upon to make investment decisions on climate change adaptation spending are not adequate in the current environment and new approaches are urgently needed, the Actuaries Institute summit heard today...
29 April 2022
Marsh says the “worst is over” for directors’ and officers’ following the release of its latest quarterly rate tracker, and that the NSW/Queensland floods have curtailed any pricing relief that had been predicted for the property class at the start of the year...
29 April 2022
Tributes have been paid to the founder of Melbourne-based Honan Insurance Group, who has died aged 92...
29 April 2022
Property and casualty insurers face profitability pressures this year as inflation increases claims severity while benefits from higher interest rates will take longer to come through, Swiss Re says in a report on the global economy...
29 April 2022
A man whose motorbike was stolen from the street outside his home after he had told his insurer it would be parked in his garage has lost a claim dispute...
28 April 2022
An NRMA Insurance-backed project aimed at improving the resilience of homes against floods, bushfires and other weather disasters has been launched, offering free architectural drawings, construction specifications and handbook guides...