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...
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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...
Grapefruit-sized hailstones set new record
20 October 2021
Record “grapefruit-sized” hailstones measuring 16cm in diameter hit the Queensland region of Yalboroo, north of Mackay, yesterday as severe thunderstorms developed across eastern parts of the state during the afternoon and evening...
'Show must go on': report backs amusement parks mutual
20 October 2021
The Australian Small Business and Family Enterprise Ombudsman has given preliminary backing for a discretionary mutual fund as a solution to the insurance crunch facing amusement park, leisure and recreation operators...
INsight podcast: rights and wrongs of ransomware payments
20 October 2021
Criticism of insurers for reimbursing ransom payments is discussed in the latest Insurance News podcast...
'Some insurers better than others' as claim handling times extend
19 October 2021
Claims handling times have increased and there’s a significant difference between the performance of different insurers in the current environment, Gallagher says...
CBN to acquire Community Insurance Solutions
19 October 2021
Community Broker Network has reached an agreement to acquire Community Insurance Solutions from Bendigo and Adelaide Bank...
'Dishonest' truck driver on workers' comp must repay $70,000
19 October 2021
A truck driver who fraudulently received workers' compensation payments has been convicted and ordered to repay more than $70,000...
Private sale exclusion wipes out car theft claim
19 October 2021
A decision by Suncorp to deny a claim for a stolen car, relying on an exclusion in relation to theft arising from a private sale, has been upheld by the Australian Financial Complaints Authority...
Trial under way in NSW councils’ class action against JLT
15 October 2021
A trial that could last more than three weeks is under way in the NSW Supreme Court as a class action over local government insurance mutuals comes to a head...