Daily
Allianz names new leader for underwriting agencies
25 June 2020
Allianz has promoted Jenny Bax to the newly created role of GM Underwriting Agencies to lead the unit’s strategic direction as governance and regulation rapidly evolves...
Bushfire royal commission told of underinsurance issues
24 June 2020
A NSW council executive has told the Royal Commission into National Natural Disaster Arrangements that residents of her bushfire-ravaged region cannot afford to insure their properties...
'Impractical' for brokers to explain every exclusion: AFCA
24 June 2020
Exclusions don't always need to be explained to customers of insurance intermediaries if they are “inherently obvious” or almost always included in certain types of cover, according to an Australian Financial Complaints Authority document...
PI pain set to worsen as insurers harden risk appetite
24 June 2020
Rates for professional indemnity insurance and other key construction product lines are set to increase further in the coming months, Willis Towers Watson says in an Australia update, as insurers’ risk appetite for the problematic industry continues to shrink...
Chance doubles for rain-causing La Nina
24 June 2020
Australia has double the normal chance of a La Nina weather pattern forming this year, increasing the risk of heavy rainfall, the Bureau of Meteorology says in its latest update...
QBE 'should move for banks' insurance operations'
23 June 2020
QBE should consider bidding for the general insurance arms of Westpac or Commonwealth Bank of Australia to bulk up its presence in the profitable home and personal motor markets, industry analysts say...
Could COVID kill the insurance call centre?
23 June 2020
The coronavirus pandemic will lead to the death of insurer call centres as we know them, according to a US-based global technology firm...
Chubb gains costs order from failed brokerage
23 June 2020
Chubb has gained a Federal Court costs order in a dispute over a theft, fraud and dishonesty claim related to failed brokerage All Class...
AMP Life sale clears final hurdle
23 June 2020
AMP is set to exit the life insurance business at the end of this month as planned, after clearing a final regulatory hurdle with the New Zealand central bank over the $3 billion sale to Resolution Life...
No rush: insurers start small with office returns
19 June 2020
Australia’s major insurers have begun returning to the workplace, but they’re taking it slow and following official guidance every step of the way...
Court rules on credit hire car claims
19 June 2020
The NSW Court of Appeal has handed down decisions in four cases regarding the assessment of damages concerning credit hire vehicles...
Myer, David Jones hit by QBE trade credit shift
19 June 2020
Department store chains Myer and David Jones have been hit by QBE’s decision to wind back trade credit cover for the stores’ suppliers from the middle of next month...
SMEs in NZ consider raising their BI cover
19 June 2020
About 20% of SMEs in New Zealand are considering increasing their Business Interruption (BI) cover, a survey of more than 600 policyholders by Vero has found...
Insurer warns claims handling reform 'goes too far'
18 June 2020
The bushfires royal commission has been asked to throw its weight behind moves to amend claims handling draft legislation resulting from the Hayne inquiry...
New global anti-fossil fuel campaign targets QBE
18 June 2020
A coalition of climate activists has launched a new campaign today to pressure insurers including QBE to immediately stop doing business with the oil and gas industries...
'Highly improbable': driver’s kangaroo story ruled a tall tale
18 June 2020
A driver who says a kangaroo ran from trees in a dark street, causing him to instinctively brake and accidentally hit a tree, has lost a dispute with his insurer...
EQC secures $6 billion reinsurance
18 June 2020
New Zealand’s Earthquake Commission has renewed its $NZ6.2 billion reinsurance, continuing one of the world’s largest annual programs...
Insurers face higher reinsurance costs as climate risk bites
17 June 2020
Reinsurance costs for Australia’s three leading insurers are set to rise at July renewals, Morgan Stanley has warned, and the upward trend is likely to persist, reflecting the increased business risk they face from climate change...
Unlikely ally: ESL Monitor flags doubts over NSW levy's future
17 June 2020
The NSW Emergency Services Levy Monitor has strongly hinted that the levy he’s employed to keep watch over should be abolished...
ASIC says product intervention power 'timely'
17 June 2020
The Australian Securities and Investments Commission has released a regulatory guide on its product intervention powers, while stressing the importance of the new rules amid the COVID-19 pandemic...