Daily
CBA sued over 'junk' insurance products
10 June 2020
Law firm Slater and Gordon has filed a class action against Commonwealth Bank, accusing the country’s biggest lender of selling “junk” consumer credit insurance products...
AFCA investigates BI test case
09 June 2020
The Australian Financial Complaints Authority has confirmed it is considering a business interruption test case proceeding, to provide an “authoritative decision” on how policies should respond to COVID-19 shutdowns...
QBE targeted for UK dentists class action
09 June 2020
Law firm Mishcon de Reya has lined up funding for a UK dentists business interruption class action against QBE, after also flagging plans to pursue the insurer on behalf of the hospitality industry...
Hollard extends COVID-19 assistance
09 June 2020
Hollard has added to a package of financial assistance measures and extended the timeframe by three months as clients continue to face changing circumstances and stresses due to the coronavirus outbreak...
NRMA Insurance defends $10 offer after decreased cover warnings
09 June 2020
NRMA Insurance has defended its launch of a $10-a-month Third-Party Fire and Theft Car Insurance offer, dismissing concerns over the dangers of decreased cover...
AFCA stands by Uber ruling at odds with guidance
05 June 2020
The Australian Financial Complaints Authority has published an agreed “approach” to insurance disputes over ridesharing disclosure – but says it won’t review a recent case that appears to contradict the new guidelines...
Tracy Green to head insurance at RACQ
05 June 2020
Tracy Green has been appointed to the new role of Group Executive Insurance at RACQ, reporting to CEO David Carter...
ANZ prosecuted for 'worthless' credit card insurance
05 June 2020
New Zealand’s regulator is taking ANZ to court for selling insurance policies which provided no benefit...
COVID-19 fuels emerging risks: Swiss Re
05 June 2020
The coronavirus outbreak is amplifying some emerging risks and has illustrated the importance of not relying on historical data to prepare for future threats, Swiss Re says in its annual Sonar report...
Cover-More feels heat as refunds surge
04 June 2020
Cover-More forecasts it will refund premiums for at least 250,000 travel insurance policies this year due to the coronavirus pandemic, while struggling with a slide in expected response times in handling claims and inquiries...
Industry advised to heed ASIC warning on UCT reform
04 June 2020
The industry has been urged to take seriously a warning from the Australian Securities and Investments Commission that action will be taken against insurers that fail to comply with the new unfair contract terms laws that will come into effect next April...
NRMA Insurance launches $10 third-party fire and theft motor cover
04 June 2020
IAG brand NRMA Insurance announced today its Third-Party Fire and Theft Car Insurance product will be available at $10 a month for a limited period from next Sunday to August 7...
Pandemic-hit travel insurers cut staff
04 June 2020
New Zealand’s largest travel insurer, Southern Cross Travel Insurance, will halve its full-time staff as the sector battles the financial fallout of the COVID-19 pandemic, which has decimated global tourism...
Travelling on: Cover-More CEO departs
03 June 2020
Cover-More CEO Hanno Mijer has departed the travel insurer to become Head of Commercial Insurance Services at parent group Zurich...
MPs demand answers over travel policy disclosures
03 June 2020
Disclosures in travel insurance policies for exclusions triggered by the coronavirus pandemic came under fire at a parliamentary committee hearing today...
NSW passes legislation to expand construction PI pool
03 June 2020
Designers and building practitioners in NSW will need to be registered and hold adequate professional indemnity insurance following the passage of a bill that forms part of the Berejiklian Government’s efforts to reform the troubled construction sector...
icare advocate turns focus on to building scheme
03 June 2020
NSW state insurer icare says its Independent Customer Advocate Darren Wright has turned his attention to the state’s home building compensation scheme in an expanded role, and wants to hear from brokers about their experiences...
UK court case will test QBE’s policy wordings
02 June 2020
QBE will be among eight insurers drawn into a UK High Court test case initiated by the financial regulator to help resolve disputes over business interruption policy wordings...
Container spill: maritime authority seeks $22 million from insurer
02 June 2020
The Australian Maritime Safety Authority is seeking $22 million in clean-up costs from the insurer of a Singapore-flagged ship that is currently in detention in the Port of Brisbane...
Hail no: insurer refuses to pay for mystery dents
02 June 2020
A motor insurance customer has lost a dispute over damage to her car following a hailstorm after investigators found that almost half the dents appeared to have been made using a tool...