Cover-More names new CIO to drive tech focus
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...
Daily
FAR legislation enters Parliament in Hayne wrap-up
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...
Ceiling collapse during storm 'not covered'
28 October 2021
A Westpac home and contents customer has lost his claim dispute after reporting damage including collapsed ceilings during a storm...
Cyber threat gives Australia, world the jitters
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...
Hollard takes two gongs at ANZIIF awards
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...
Halloween hailstorm claims almost 90% resolved
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...
INsight podcast: insurers' profitability plunges
27 October 2021
Insurers' ongoing profitability challenges are discussed in depth on the latest edition of the Insurance News podcast...
D&O prices 'levelling out' as Pacific market continues to ease: Marsh
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...
Hailstorms drive up Suncorp peril costs
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...
Cover-More makes management changes, sees travel rebound
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...
Boat owner failed to keep up with premiums before hitting rocks
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...
IAG faces shareholder heat over results, remuneration
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...
COVID-related delays 'concerning': ICA chief
22 October 2021
The Insurance Council of Australia is “very worried” about the impact of COVID-related issues on claims turnaround, and is battling to make sure the problem does not worsen this disaster season...
icare publishes reform progress dashboard
22 October 2021
NSW state insurer icare says at least 70% of activity to address recommended improvements made by a number of reviews is underway, and it has identified 463 past workers’ compensation claims with underpayments totalling $3.87 million...
Traveller who caught COVID loses claim dispute
22 October 2021
A traveller who left Australia on a one-way flight, caught COVID and was unable to return home has lost a claim dispute with Zurich on the basis the coronavirus was not an unforeseeable event when he departed in September last year...
Insurers' performance slips 'from bad to worse': Optima report
21 October 2021
The COVID-19 pandemic has delayed an expected recovery in Australian general insurers’ profitability with performance going backwards in the past financial year, the annual Finity Optima report says...
Full Court appeals lodged on five BI test case claims
21 October 2021
Appeals have been filed for five of the disputes heard by the Federal Court in the second test case over business interruption pandemic cover, the Insurance Council of Australia said today...
Shareholder activism emerges as D&O concern: Aon
21 October 2021
Directors’ and officers’ rates in Australia continue to stabilise, aided in part by new capacity, but rising shareholder activism linked to climate causes looms as a new source of concern for insurers, Aon says...
McLardy McShane acquires Sydney Insurance Brokers
21 October 2021
McLardy McShane Partners today announced it has acquired Sydney Insurance Brokers, creating a new joint venture headed by broker Dora Dimou as MD...
Possible Zurich sale tipped to attract wide interest
20 October 2021
Zurich may divest its Australian general insurance division, excluding the travel business, according to a media report, with any move to sell the business expected to attract widespread interest...