Daily
Insurers' experts to speak on Day 1 of bushfire inquiry
22 May 2020
IAG head of natural perils Mark Leplastrier and Sharanjit Paddam, who is head of Environmental, Social and Governance Risk at QBE and also convenes the Actuaries Institute Climate Change Working Group, will address the bushfires royal commission on Monday as hearings get underway...
Steadfast earnings ‘remain strong’ despite virus
21 May 2020
Steadfast Group said today in a trading update its business is performing well despite the significant impact of the coronavirus outbreak on the Australian economy...
Police, ASIC stay silent on Winley fraud
21 May 2020
Those responsible for the “misappropriation” of $8.69 million that led to the collapse of Perth authorised representative company Winley Insurance Group in 2016 will likely go unpunished by Australian authorities...
AFCA puts brakes on Mercedes 'staged accident' claim
21 May 2020
A woman whose Mercedes was written off has lost a $73,000 insurance dispute after the Australian Financial Complaints Authority ruled there was an opportunity to stage the accident...
Insurers key for post-COVID resilience: Swiss Re
21 May 2020
The insurance industry has a critical role to play in strengthening resilience as countries recover from the impact of the COVID-19 pandemic, Swiss Re Chief Economist Jerome Haegeli says...
Winley missing millions ‘gone for good’
20 May 2020
Attempts to recover more than $8 million that disappeared from the accounts of failed Perth authorised representative company Winley Insurance Group have been unsuccessful...
QBE wins exclusive LMI deal with big lender
20 May 2020
QBE has been selected as the exclusive provider of Lenders Mortgage Insurance to the home loan customers of National Australia Bank...
Steadfast backs Mansfield Awards
20 May 2020
Steadfast will once again support the Mansfield Awards, the industry’s premier claims awards scheme...
Brokers told to prepare for looming UCT reforms
20 May 2020
Insurance brokers have been urged to start preparing for the unfair contract terms reforms that will commence next year...
Whelan prepares to bow out as successor appointed
19 May 2020
Outgoing Insurance Council of Australia CEO Rob Whelan has spoken of his pride in his team as he prepares to leave in September, when successor Andrew Hall joins from Commonwealth Bank...
NIBA plays a straight bat on BI wordings issue
19 May 2020
The National Insurance Brokers Association says intermediaries should assess individual policy wordings before advising clients on business interruption claims – and adds that “the last thing brokers want to see is an unstable insurance sector”...
Submerged car covered, dealer to blame
19 May 2020
A motorist with a poor driving record whose Toyota Landcruiser became submerged in seawater has won an insurance dispute after the Australian Financial Complaints Authority ruled the car dealer who sold the policy failed to highlight the duty of disclosure...
Queensland boosts cyclone resilience funding
19 May 2020
The Queensland Government has announced funding to extend a grants program that helps improve the resilience of homes and reduces premiums in cyclone-affected regions...
Exclusion confusion: lawyers disagree on BI wording dispute
15 May 2020
Australian law firms have expressed a range of views on whether exclusions within business interruption policies that refer to a repealed act of parliament will hold up...
AFCA orders payout for man who didn’t have cancer
15 May 2020
A man who had a tumour believed to be malignant removed on expert medical advice – but discovered he did not have cancer after the surgery – has won a dispute over a claim under his trauma policy with life insurer OnePath...
Parliamentarians press ahead with class action inquiry
15 May 2020
A parliamentary inquiry into the class action system, targeting litigation funders and regulatory oversight of funding arrangements, has been launched after being delayed by the coronavirus outbreak...
Pay up, container spill insurer told
15 May 2020
The Australian Maritime Safety Authority has accused London-based marine insurer Britannia P&I of using “every trick in the book” to avoid paying for the cost of cleaning up pollution caused by a ship it insured...
‘Lawyers’ picnic’: insurers face scrutiny on BI wordings
14 May 2020
Business policy exclusions which still refer to an act of parliament that was repealed almost five years ago could leave Australian insurers facing a lengthy legal battle and possible class actions, legal sources have warned...
Personalise or lose your customers, insurers told
14 May 2020
Australian insurers and their peers overseas are not doing enough to retain their customers, who want more personalised offerings such as usage-based products, according to the annual World Insurance Report from Capgemini...
Lloyd’s reveals $6 billion virus payout
14 May 2020
Lloyd’s says it will pay out billions of dollars across the globe as a result of COVID-19, putting the cost of the crisis on a par with the 9/11 terrorist attacks in 2001 and 2017’s triple-whammy of hurricanes Harvey, Irma and Maria...