Daily
Think tank wants fossil fuel levy to pay for climate disasters
18 December 2019
The Australia Institute has called for a special levy on coal and other fossil fuel companies to help pay for the rising cost of natural disasters, which climate scientists have warned will become more frequent and severe as global warming accelerates...
Suncorp must pay $1 million to traumatised police officer after losing appeal
17 December 2019
Suncorp has been ordered to pay more than $1 million in damages to a former police officer who attended a road accident where a trapped driver was dying from horrific injuries...
Zurich enters underwriting agreement with AFA Insurance
17 December 2019
Zurich has entered into an agreement with underwriting agency AFA Insurance to act as security for its accident and health policies from the start of next month...
NZ regulator mounts civil action against CBL and directors
17 December 2019
New Zealand’s Financial Markets Authority announced today it has started legal action against failed insurer CBL Corporation and its former directors for alleged corporate misconduct...
Resilium managers 'entitled to sue Coverforce'
13 December 2019
Managers who led the buyout of the Resilium authorised representative firm from Suncorp earlier this year have been told by the NSW Supreme Court they would be entitled to seek damages against Coverforce for deceptive conduct over the deal...
icare's claims model blamed for workers' comp scheme decline
13 December 2019
NSW state insurer icare’s new workers’ compensation claims model is the “primary driver” behind the scheme’s deteriorating performance, according to a highly critical report...
We’ll meet again: no action from Building Ministers’ Forum
13 December 2019
The Building Ministers’ Forum agreed in Canberra today to discuss the professional indemnity crisis in the construction sector with the Insurance Council of Australia at another meeting in February...
AUB's Coverforce acquisition 'could have gone ahead': judge
12 December 2019
A judge has decided that AUB Group’s abandoned acquisition of Coverforce Holdings could have proceeded...
White Island eruption injuries covered
12 December 2019
Australian tourists who were visiting White Island when it erupted will be covered by New Zealand’s Accident Compensation Corporation, while some travel insurers have also confirmed coverage...
Governments slammed over PI inaction as forum looms
12 December 2019
Building surveyors and certifiers have pressed for urgent action to address the worsening professional indemnity insurance crisis on the eve of tomorrow’s Building Ministers’ Forum in Canberra...
Roofers caught in ACCC hailstorm enforcement
11 December 2019
The Australian Competition and Consumer Commission has taken action against two Sydney roofers over Facebook messages about raising prices after tennis-ball sized hailstorms caused widespread property damage last year...
Industry set for more growth: S&P
11 December 2019
Australia’s general insurance industry is on track to perform solidly over the next few years, S&P says in a new report issued today, citing hardening rates and an all-out efficiency drive as key factors that will support earnings growth...
Catastrophes send insurance profits plummeting
11 December 2019
Insurance industry profits fell 12% to $4.4 billion last financial year as catastrophes such as the Sydney hailstorms and the Townsville floods increased natural hazard costs, a KPMG annual review shows...
Tower starts search as CEO decides to return to Australia
10 December 2019
Tower CEO Richard Harding will leave the Auckland-based insurer and return to Australia toward the end of next year after deciding not to extend his contract past its current term...
Building Ministers’ Forum sees fixing PI crisis as a priority
10 December 2019
Resolving the months-long professional indemnity insurance crisis in the construction sector is set to dominate the agenda at the upcoming Building Ministers’ Forum on Friday in Canberra...
Cyber breaches: companies urged to go above and beyond
10 December 2019
Companies should look beyond compulsory data breach reporting requirements to help mitigate potential reputational damage from cyber attacks...
Blue Zebra eyes overseas expansion
06 December 2019
Underwriting agency Blue Zebra is considering expanding overseas following the rapid growth of its Australian operation...
NSW bushfires: 683 homes gone, conditions heading from bad to worse
06 December 2019
At least 683 residential properties in NSW have been confirmed destroyed by the bushfires still ravaging the state, with experts warning today that conditions will sharply deteriorate over the next few days...
Bad news: D&O insurers brace for even more pain
06 December 2019
The unprofitable directors’ and officers’ market will continue to struggle next year, according to Allianz Global Corporate & Specialty...
High Court throws class action curveball
05 December 2019
A High Court decision on class action funding is expected to slow the launch of some litigation by taking away a fast-tracking option, but the level of activity is likely to remain high...