Daily
AMP ordered to pay $5 million fine for 'rewriting' insurance
05 February 2020
The Federal Court today fined AMP more than $5 million after financial planners engaged in insurance “rewriting” to boost commissions...
Former Wallabies captain joins Gallagher team
05 February 2020
Veteran broker and former Wallabies rugby union captain Tony Shaw has left Marsh and joined the corporate broking team at Gallagher in Brisbane as Executive Director...
Catastrophes derailing insurers’ profitability
04 February 2020
Expectations of improved profitability for Australian insurance companies this year are likely to be dashed due to the bushfire and hailstorm catastrophes, the JP Morgan and Taylor Fry General Insurance Barometer says...
Driver who lied about accident appeals over his declined claim
04 February 2020
A driver who is alleged to have bought an insurance policy shortly after being involved in a collision complained to the Australian Financial Complaints Authority after his claim was denied...
Fires, floods, hail: now a cyclone looms
04 February 2020
A tropical low presently tracking southwest of Kununurra in WA could develop into a severe cyclone by this weekend based on current projections...
Brokers warned to ‘wean themselves off’ contingent payments
31 January 2020
General insurance brokers must act now to cut out certain forms of remuneration, Steadfast has warned...
Insurers working through final Townsville claims
31 January 2020
A year after Townsville was inundated in a massive flood, the Insurance Council of Australia will tomorrow host consultations with policyholders who still have unsettled claims...
New set of reforms revealed a year after Hayne
31 January 2020
Treasury has unveiled two dozen financial services legislation reforms, a year after Commissioner Kenneth Hayne published his final report and scores of recommendations for improvement...
Exclusive: Insurance Council CEO set to step down
30 January 2020
Insurance Council of Australia CEO Rob Whelan will step down after almost a decade leading the industry body...
PSC buys Australian Unity’s broking business
30 January 2020
PSC Insurance Group announced today it will acquire the general insurance broking business of Australian Unity for $1.56 million...
Suncorp takes a $300 million hit from January disasters
30 January 2020
Suncorp says costs from this month’s fire, hailstorm and rain disasters are expected to be capped at $300 million following reinsurance recoveries, amid an “unprecedented” start to the summer catastrophe season...
Coronavirus outbreak: exclusions could rule out cover
29 January 2020
The local insurance industry has warned that “broad exclusions normally apply” to pandemics and epidemics such as the current coronavirus outbreak...
Another leadership team executive quits IAG
29 January 2020
IAG Group Executive Strategy and Corporate Development David Harrington “has decided to leave” the company at the end of March, the insurer says today in a statement...
Unsustainable ‘honeymoon’ discounting under fire
29 January 2020
Life insurer ClearView has taken aim at its rivals for cutting premiums to unprofitable rates in the race to maintain customer numbers...
AUB announces 'good progress' on performance
28 January 2020
AUB has reaffirmed its full-year earnings guidance, with the business on track to deliver “toward the top” of its forecast of an 8-10% rise in adjusted after-tax net profit...
Suncorp must pay uninsured driver after collision with ambulance
28 January 2020
An uninsured driver whose vehicle was in collision with an ambulance will receive up to $15,000 after the Australian Financial Complaints Authority found in his favour...
Bushfires may boost reinsurance rates: AM Best
28 January 2020
Bushfires this summer could lead to increased reinsurance rates at renewals while underwriters will also be looking at their approach to managing exposure to the risk in future, AM Best says...
Bushfire, hailstorm losses top $2 billion
24 January 2020
Insured losses from bushfires and hailstorms since November have reached $2.16 billion as more claims from the events are lodged...
Genworth chooses KPMG partner as its next CEO
24 January 2020
Genworth Mortgage Insurance Australia has appointed KPMG Partner Pauline Blight-Johnston as MD and CEO...
IAG cuts earnings outlook as catastrophe costs mount
24 January 2020
IAG today lowered its earnings guidance for this financial year to account partly for the impact of this month’s hailstorm that severely damaged cars and homes in Canberra, Sydney and Melbourne...