QBE simplifies US operations, reveals Australian flood exposure
04 March 2022
QBE today announced it is selling its US-based Westwood Insurance Agency for $375 million as part of efforts to simplify its business there...
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Holden driver wins dispute over undisclosed modification
04 March 2022
The driver of a Holden who failed to tell his insurer about a non-factory-standard cold intake filter in his engine installed prior to his purchase of the car has won a claim dispute after it was damaged during a ‘road rage’ incident...
UK blocks Russia from Lloyd's, Australian insurers 'stand with Ukraine'
04 March 2022
The UK Government says Russian aviation companies are banned from accessing Lloyd’s and the London Market, as sanctions following the invasion of Ukraine ramp up...
Flood claims top 60,000 as fears grow over materials, labour shortages
03 March 2022
More than 60,000 claims have been received by insurers as a result of the flood catastrophe in Queensland and NSW, and concerns are rising about the impact of materials and labour shortages on the recovery...
'Significant' rise in industry profit as underwriting results improve
03 March 2022
The general insurance industry made “significant improvement” in earnings for the year to December, as a sharp turnaround in underwriting results and lower claims losses combined to negate subdued investment returns, the Australian Prudential Regulation Authority says today...
Blue Mountains cafe loses dispute after bushfire deterred tourists
03 March 2022
A cafe owner who suffered a downturn in profit of more than $40,000 when the danger and volume of smoke from nearby bushfires in the Blue Mountains National Park kept tourists away has lost a claim dispute...
Climate demand makes QBE AGM agenda - again
03 March 2022
Pro-climate action QBE shareholders have again requisitioned a resolution at its upcoming annual general meeting in May to push the insurer into disclosing fossil fuel reduction targets and plans for moving away from underwriting of oil and gas assets...
Flood catastrophe insured losses could hit $2 billion
02 March 2022
Flooding in NSW and Queensland is likely to lead to insured losses of at least $1 billion and possibly $2 billion, making it one of Australia’s worst flood events on record, S&P Global Ratings said today...
Rideshare driver loses dispute after passenger steals car
02 March 2022
A rideshare driver who helplessly watched a trusted passenger steal his car through a service station window when he stopped to use an automatic teller machine has lost a claim dispute...
360 appoints Mobile Plant and Equipment head
02 March 2022
360 Underwriting Solutions has appointed Chris Quick as Head of Mobile Plant and Equipment following the recent retirement of Stephen Borg...
INsight podcast: water, water everywhere
02 March 2022
The current flood crisis is the main topic of conversation on the latest Insurance News podcast...
Ominous trend: flood claims rise sharply as 'rain bomb' tracks south
01 March 2022
Insurers have received 31,000 claims in relation to devastating flooding in Queensland and NSW, with forecasters warning that the weather system is now tracking south...
Australia warned of 'irreversible change' from climate inaction
01 March 2022
Worsening droughts, bushfires and floods such as the one that Queensland and NSW are now experiencing will become even more severe and frequent as climate change takes hold in Australia, with potentially huge ramifications for the insurance industry...
Name and shame: new code demands brokers report other brokers
01 March 2022
The new Insurance Brokers Code of Practice, launched today, includes an obligation for brokers to report other brokers over breaches, and the possibility of naming and shaming those that have breached the code...
Mega Capital relaunches as Finstead Risk Solutions
01 March 2022
Specialist professional risks broker Mega Capital has been relaunched as Finstead Risk Solutions, a new insurance broking and advisory venture led by three former Sydney-based InterRISK executives...
Gallagher Re names new Australia CEO
25 February 2022
Gallagher Re has appointed Heather Bone as Australia CEO and made a number of senior appointments, signalling “ambitious plans” for the local market as the global firm expands following its Willis Re acquisition...
Insurer wrong to deny travel claim by saying deceased relative broke law
25 February 2022
A travel insurer has been ordered to pay $18,000 after incorrectly denying a claim after the policyholder’s brother-in-law was killed in a road crash days before the trip was due to start...
Genworth sees drop in refinancing denting 2022 premium growth
25 February 2022
Genworth Mortgage Insurance says a shift in policy cancellation behaviour may see its annual net earned premium drop to more typical levels in the current year after jumping 19% to $370.5 million in 2021 as homebuyers chased lower mortgage rates...
Cover Genius sells 10 million policies, doubles local team
25 February 2022
Insurtech Cover Genius says a “momentous” year of growth has pushed its policy sales past 10 million, seen the size of its team in Australia and New Zealand nearly double and sales of XCover – which is available on Amazon – rocket...
Industry target of malicious, criminal attacks
24 February 2022
Malicious or criminal attacks account for more than half of data breaches that affected the insurance industry, the Office of the Australian Information Commissioner’s latest update for the half-year to December shows...