Insurance Council names new president
15 December 2021
The Insurance Council of Australia board has appointed IAG MD and CEO Nick Hawkins to the position of President, effective New Year’s Day...
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Record wild weather claims start 'ominous' storm season: NRMA
15 December 2021
NRMA Insurance has received the highest number of severe weather home claims for any spring and is urging Australians to prepare for more frequent hailstorms trending further south in the warmer months...
Global catastrophe losses reach $US112 billion: Swiss Re
15 December 2021
Global insured catastrophe losses have reached $US112 billion ($157 billion) this year, the fourth-highest level in five decades, Swiss Re says in preliminary estimates...
'Implications for insurers': High Court backs prestige car like-for-like hire
14 December 2021
The High Court has clarified that drivers of a BMW and an Audi A3 who were involved in accidents where they weren’t at fault were entitled to recover costs for the hire of equivalent prestige vehicles while repairs were completed...
Tenant loses dispute over $786,000 fire bill from his landlord's insurer
14 December 2021
A tenant who was welding his 1968 Ford Mustang in a garage when a fire broke out and destroyed the property has lost a dispute after he tried to claim the cost of the damage under his third party liability motor policy...
SIRA targets return-to-work rate turnaround with 10-point plan
14 December 2021
The NSW State Insurance Regulatory Authority has released a 10-point action plan to address declining return-to-work rates in the state's workers’ compensation scheme - measures that include reviewing all participating insurers’ practices in the first-half of next year...
Correction: ASIC details JobKeeper payments
14 December 2021
An article in the Regulatory section of yesterday’s insuranceNEWS.com.au wrongly stated that QBE had received JobKeeper payments from the Federal Government. In fact, QBE did not apply for, and has never received, such funding...
ARPC review rejects cyber extension
10 December 2021
A Triennial review has rejected expanding the Australian Reinsurance Pool Corporation’s role to include cyber terrorism, but recommends adding board expertise and the appointment of temporary observers if a planned Government-backed cyclone pool is added to its responsibilities...
Wild storm catastrophe losses reach $440 million
10 December 2021
Storms that swept across SA, Victoria and Tasmania six weeks ago have caused losses totalling $440 million, the Insurance Council of Australia estimates, as wild weather continues to affect eastern states...
Tasmania fire services levy a 'double blow': NIBA
10 December 2021
Tasmania’s fire services funding levy is dealing businesses a double blow, the National Insurance Brokers Association says in a submission to a review of the arrangements...
Pleasure craft policyholder wins stolen jet ski claim dispute
10 December 2021
A jet ski owner has won a claim dispute after it was stolen in March from behind a locked garage door at his residence in a quiet court while he was away from his home for a night...
ACCC inquiry into bushfire pricing proposed
09 December 2021
The Australian Competition and Consumer Commission should be directed to inquire into insurance supply in bushfire-prone regions as part of an exploration of strategies to address potential market failure, a Senate committee has recommended in a report into lessons from the Black Summer catastrophe...
Allianz joins Climate League 2030
09 December 2021
Allianz has joined Climate League 2030, becoming the first insurer in Australia to support the private sector-focused 10-year initiative that aims to reduce the country’s annual greenhouse gas emissions in line with targets set by the Paris Agreement...
Honey partners with homes builder
09 December 2021
Insurtech Honey Insurance has agreed a home and contents insurance supply deal with Metricon Homes, its second strategic partnership since launching in June...
UAC elects new board, appoints chairman
09 December 2021
Lion Underwriting MD Kurt Nilsen has been re-elected to the board of the Underwriting Agencies Council and retained his position as Chairman after meetings today...
Queensland flood reignites 'confusion' over policy coverage
08 December 2021
The Insurance Council of Australia is today meeting with affected residents in flood-hit Inglewood, Queensland, to address their “confusion” in relation to how policies may respond when a flood occurs...
All summer long: La Nina may persist until autumn
08 December 2021
Climate models suggest the current La Nina weather pattern will persist until late summer or early autumn, the Bureau of Meteorology says...
WTW appoints construction expert in Melbourne
08 December 2021
Willis Towers Watson has appointed Kishan Dasan to the newly created role of Director of Strategic Growth, Construction and Natural Resources Australasia...
INsight podcast: pool plan uncovered, but some details still murky
08 December 2021
The Insurance News podcast panel this week looks in detail at the Federal Government's draft legislation for its upcoming cyclone reinsurance pool, and what it means for the scheme which should be up and running by July...
IAG eyes one million new customers as part of growth agenda
07 December 2021
IAG today announced plans to add one million new customers primarily through the expansion of the NRMA Insurance brand as part of CEO Nick Hawkins’ five-year vision for the business, which also involves the revitalisation of the insurer’s loss-making intermediated division...