02 November 2021
CHU-owned Flex Insurance says there is a backlog of claims repairs waiting to be completed at strata properties after more than a year of pandemic lockdowns, echoing similar observations about COVID curbs hindering insurers’ ability to progress building works...
02 November 2021
IAG has raised its full-year natural perils forecast by 36.6% to $1.045 billion and lowered its reported margin guidance following SA and Victorian storms that have been declared a catastrophe by the Insurance Council of Australia...
02 November 2021
A Suncorp customer who challenged the insurer’s decision to decline his home building claim for storm damage has lost his dispute before the Australian Financial Complaints Authority...
29 October 2021
The Insurance Council of Australia has declared a catastrophe for severe storms in SA and may widen the declaration to include wild winds that toppled trees this morning in Melbourne and regional Victoria...
29 October 2021
Liberty Specialty Markets has been crowned General Insurer of the Year by the National Insurance Brokers Association, while transport and logistics specialist NTI won the Underwriting Agency of the Year award...
29 October 2021
New Zealand’s Vero is dropping a long-standing industry practice of comparing male and female customers even though gender and age together help to determine the likelihood of a claim, and gender has a significant price impact for some age ranges...
29 October 2021
The Commonwealth Bank of Australia has pleaded guilty to 30 criminal charges of making false or misleading representations in relation to the selling of consumer credit insurance...
28 October 2021
The Federal Government announced today it has removed its “Do Not Travel” global advisory, paving the way for insurers to resume large-scale international travel insurance sales...
28 October 2021
Cover-More has appointed a new Group CIO, tasked with leading an acceleration of the insurer’s digital transformation as international travel starts to resume...
28 October 2021
The Federal Government has today introduced financial accountability legislation into Parliament, paving the way for insurance to come under a regime designed to prevent misconduct and elevate standards...
28 October 2021
A Westpac home and contents customer has lost his claim dispute after reporting damage including collapsed ceilings during a storm...
27 October 2021
Risk decision-makers in Australia and globally have named cyber attacks/data breach as the biggest danger facing their businesses, and they expect the digital threat to remain top even in 2024, according to a biennial survey by Aon...
27 October 2021
Hollard Insurance and Marsh have taken top gongs at this year’s Australian Insurance Industry Awards, the first ceremony in two years after the 2020 event was cancelled due to COVID...
27 October 2021
Claims triggered by Halloween hailstorms that caused $1.08 billion in losses last year are almost 90% resolved as insurers continue to receive new claims leading into the anniversary of the event on Sunday...
27 October 2021
Insurers' ongoing profitability challenges are discussed in depth on the latest edition of the Insurance News podcast...
26 October 2021
Marsh’s latest price index released today shows commercial rates in the Pacific region rose at a weaker pace for the third straight quarter, confirming the broker’s earlier assessments that rate increases in the Australia-led market have peaked...
26 October 2021
Suncorp has estimated financial year-to-date natural hazard costs at $382-492 million following hailstorms last week and wild October weather that has driven up the preliminary total...
26 October 2021
Cover-More is making changes to its Australian and New Zealand management following the resignation of Asia Pacific CEO Judith Crompton, as the Zurich-owned insurer looks ahead to a post-lockdown travel rebound...
26 October 2021
A yacht owner whose claim for his wrecked boat was refused because his policy with Club Marine had been cancelled for non-payment of premiums has lost his complaint...
22 October 2021
IAG defended its 2021 remuneration scheme at today’s annual general meeting as shareholders questioned the decision to award bonuses despite a number of management lapses that led to a full-year financial loss of $427 million...