Daily
Climate concern jumps up worry list
23 January 2020
Climate change and increasing weather volatility has surged into third place in an annual Allianz Global Corporate and Specialty survey of business risks facing the Australian insurance industry...
Uber driver loses dispute over claim
23 January 2020
An Uber driver whose insurer knocked back a claim because he hadn’t told them he was working for the rideshare company has had his complaint rejected by the Australian Financial Complaints Authority...
BEAR trap: insurers face tough conduct regime
23 January 2020
Treasury has released a consultation paper on plans to extend the Banking Executive Accountability Regime (BEAR) to insurers and other regulated financial entities as recommended by the Hayne royal commission...
Brokers flag uncertainty over bushfire business interruption cover
22 January 2020
Brokers are calling for a review of business interruption policy wordings following the devastating bushfires that ripped through tourist regions in NSW, Victoria, SA and Queensland...
Investments: brokers hold edge over insurers
22 January 2020
Listed brokers are poised to outperform their rivals in the coming months as the rate cycle eases from recent peaks, Macquarie Research says in a new report...
Underwriters 'will maintain a tough line until 2021'
22 January 2020
Rising premiums and reduced capacity from underwriters for some business risks are set to remain features of the insurance market until well into next year, Honan Insurance Group says...
Hailstorm losses top $300 million, catastrophe declared
21 January 2020
Hailstorms that dented cars and smashed windows in Canberra, Sydney and Melbourne over the past two days have caused losses estimated at $320 million...
AIG’s exit list grows as Asia Pacific CEO walks
21 January 2020
AIG’s Asia Pacific CEO Sachin Shah has left the company “to pursue other opportunities”, one year after he took on the position in January 2019...
Willis Re names new local CEO
21 January 2020
Reinsurance broker Willis Re today announced a reshuffle at the top of its Australian business...
Bushfire response: insurers welcome government clean-up pledge
20 January 2020
The NSW and Victorian governments have committed to fund debris removal for all bushfire-affected properties...
Acquisitions and appointments: company news wrap-up
20 January 2020
The industry is whirring back into life after the summer break, with acquisitions, appointments and launches announced in recent days...
Victoria will expand its PI cladding exemption
20 January 2020
Victoria will next month allow all classes of engineers and other building professionals to temporarily operate with cladding exemptions on their professional indemnity policies...
ACCC snubs reinsurance pool in latest northern Australia report
20 December 2019
The Australian Competition and Consumer Commission says a reinsurance pool isn’t the answer to soaring premiums in the north, but the Federal Government could push on regardless...
Bushfire losses still rising as NSW prepares for worse
20 December 2019
Insured losses from the NSW and Queensland bushfire catastrophe have run up to at least $182.6 million from 2306 claims lodged, the Insurance Council of Australia says today...
Sydney hailstorm cost hits $1.36 billion at anniversary
20 December 2019
The cost of the catastrophic hailstorm which hit Sydney and regional NSW a year ago today has climbed to $1.36 billion as claims continue to reach insurers...
Victoria cladding talks may resolve PI gridlock
19 December 2019
Professional indemnity insurance cover without a cladding exclusion may again be offered to building practitioners in Victoria pending the outcome of talks between the insurance industry and the State Government...
Monitor seeks views on ESL collection 'nightmare'
19 December 2019
NSW Emergency Services Levy Monitor Allan Fels has launched consultation with “key stakeholders” on the way the controversial levy is calculated and collected...
Chubb launches online trading platform for cyber
19 December 2019
Chubb‘s new Marketplace online trading platform has launched in Australia with cyber risk protection for small and medium enterprises...
ATO forces insurers to reveal high-net-worth clients' assets
18 December 2019
The Australian Taxation Office says it will ask for five years’ policy information from more than 30 insurance companies about taxpayers who own high-value assets...
US crop claims dent QBE's profit forecast
18 December 2019
US crop insurance claims caused by unusual cold and wet weather will cause QBE’s underwriting profitability to fall short of expectations this year...