30 November 2021
The Australian Securities and Investments Commission has started civil penalty proceedings against Westpac in the Federal Court over alleged compliance failings that include distribution of duplicate general insurance policies...
30 November 2021
The Insurance Council of Australia has backed the Federal Government allocating another $50 million to support priority flood mitigation infrastructure works across the country...
30 November 2021
A Suncorp motor policyholder who says his car was possibly damaged by his neighbour’s goats but refused multiple requests for more information to help the insurer with its investigation into his claim has lost his dispute before the Australian Financial Complaints Authority...
26 November 2021
Greensill Bank’s administrator has filed Federal Court action against IAG seeking an order that the insurer is liable to cover a $US35 million claim...
26 November 2021
QBE has been named Insurer of the Year and NTI the Underwriting Agency of the Year in the Insurance Advisernet awards...
26 November 2021
The Australian Prudential Regulation Authority today released its final prudential practice guide on climate change, setting out how insurers and other financial services providers can manage related financial risks arising from global warming within their existing framework...
26 November 2021
An owners corporation seeking to recoup $55,000 it spent removing pavers from a back yard and replacing them with a concrete slab has lost a claim dispute after insurer-appointed builder quotes revealed the work could have been done for a fifth of the cost...
25 November 2021
General insurers achieved better financial results in the year to September 30, posting a 4.5% rise in net profit-after tax to $944 million on the back of rate rises in a number of product classes such as domestic motor and professional indemnity, prudential regulator data released today shows...
25 November 2021
A Treasury review of the Australian Financial Complaints Authority has made recommendations to improve the ombudsman service while finding that “broadly” its decision making is fair, independent and efficient...
25 November 2021
Many Australians are unaware that perpetrators of family and domestic violence can use insurance policies to cause further harm, Allianz Australia says...
25 November 2021
While most of Australia shows normal bushfire potential this summer, high grass and crop fuel loads in large parts of NSW and above average forecast temperatures in WA indicate above normal risk for those areas, according to AFAC, the National Council for Fire and Emergency Services...
24 November 2021
Code breaches are not necessarily indicative of poor performance, according to an independent review commissioned by the Insurance Brokers Code Compliance Committee...
24 November 2021
A freight transport company has lost a claim dispute over the accidental death of its employee – a truck driver ejected from a prime mover after it crashed into a large tree and found to have multiple drugs and an illegal level of alcohol in his system...
24 November 2021
The initial thoughts of new QBE Group CEO Andrew Horton are the focus of the latest Insurance News podcast...
24 November 2021
Annual earnings fell at New Zealand insurer Tower as both large house claims and large events were at their highest for many years...
23 November 2021
Northern Australian based Redicova has introduced retail parametric insurance cover backed by Lloyd’s to provide rapid assistance payments after tropical cyclones...
23 November 2021
The General Insurance Code Governance Committee says it’s disappointed that some firms missed a deadline for introducing new standards to help customers experiencing vulnerability and financial hardship, while “there seems to be some confusion” over compliance with one of the sections...
23 November 2021
About two thirds of Australian SMEs have altered their business models as result of COVID-19, but just one third of these have made changes to their insurance, research released by Vero reveals...
23 November 2021
The Bureau of Meteorology today upgraded its La Nina outlook, declaring the flood-inducing weather pattern is now underway, potentially bringing more rainfall than usual this summer and above average numbers of tropical cyclones over the next few months...
19 November 2021
QBE Group CEO Andrew Horton says he is thinking about building the insurer’s position in the Australian personal lines market...