Daily
COVID-19 fuels emerging risks: Swiss Re
05 June 2020
The coronavirus outbreak is amplifying some emerging risks and has illustrated the importance of not relying on historical data to prepare for future threats, Swiss Re says in its annual Sonar report...
Cover-More feels heat as refunds surge
04 June 2020
Cover-More forecasts it will refund premiums for at least 250,000 travel insurance policies this year due to the coronavirus pandemic, while struggling with a slide in expected response times in handling claims and inquiries...
Industry advised to heed ASIC warning on UCT reform
04 June 2020
The industry has been urged to take seriously a warning from the Australian Securities and Investments Commission that action will be taken against insurers that fail to comply with the new unfair contract terms laws that will come into effect next April...
NRMA Insurance launches $10 third-party fire and theft motor cover
04 June 2020
IAG brand NRMA Insurance announced today its Third-Party Fire and Theft Car Insurance product will be available at $10 a month for a limited period from next Sunday to August 7...
Pandemic-hit travel insurers cut staff
04 June 2020
New Zealand’s largest travel insurer, Southern Cross Travel Insurance, will halve its full-time staff as the sector battles the financial fallout of the COVID-19 pandemic, which has decimated global tourism...
Travelling on: Cover-More CEO departs
03 June 2020
Cover-More CEO Hanno Mijer has departed the travel insurer to become Head of Commercial Insurance Services at parent group Zurich...
MPs demand answers over travel policy disclosures
03 June 2020
Disclosures in travel insurance policies for exclusions triggered by the coronavirus pandemic came under fire at a parliamentary committee hearing today...
NSW passes legislation to expand construction PI pool
03 June 2020
Designers and building practitioners in NSW will need to be registered and hold adequate professional indemnity insurance following the passage of a bill that forms part of the Berejiklian Government’s efforts to reform the troubled construction sector...
icare advocate turns focus on to building scheme
03 June 2020
NSW state insurer icare says its Independent Customer Advocate Darren Wright has turned his attention to the state’s home building compensation scheme in an expanded role, and wants to hear from brokers about their experiences...
UK court case will test QBE’s policy wordings
02 June 2020
QBE will be among eight insurers drawn into a UK High Court test case initiated by the financial regulator to help resolve disputes over business interruption policy wordings...
Container spill: maritime authority seeks $22 million from insurer
02 June 2020
The Australian Maritime Safety Authority is seeking $22 million in clean-up costs from the insurer of a Singapore-flagged ship that is currently in detention in the Port of Brisbane...
Hail no: insurer refuses to pay for mystery dents
02 June 2020
A motor insurance customer has lost a dispute over damage to her car following a hailstorm after investigators found that almost half the dents appeared to have been made using a tool...
DXC launches insurtech contest
02 June 2020
US-based DXC Technology, an IT services provider listed on the New York Stock Exchange, announced today the launch of its annual contest for promising insurtechs, including those from Australia and New Zealand...
ASIC puts insurance industry on notice over unfair contract terms
29 May 2020
The Australian Securities and Investments Commission has warned insurance companies to prepare for upcoming unfair contract terms reform, after securing a court victory over a bank...
ESL Monitor set to bow out – but is there a sting in the tail?
29 May 2020
NSW Emergency Services Levy Monitor Allan Fels will close down his office at the end of next month, but he could take one final swipe at the industry as he investigates a “top four insurer” over alleged prohibited conduct...
Wombats and overflowing gutters 'not covered'
29 May 2020
A man who disputed a claim denial after his home was damaged by wombats and overflowing gutters has lost his case...
Agile-backed offering targets gig economy
29 May 2020
Agile Underwriting Services is the security provider for a soon-to-be-launched product designed for the booming food delivery gig economy...
SMEs holding on to their insurance, says Vero survey
28 May 2020
Most SME owners and managers have not changed or cancelled their business insurance to cut expenses, even though their revenues have taken a hit from the virus-induced economic slump...
NSW's levy rise 'a severe blow' during hard times
28 May 2020
An increase of more than 20% in the NSW Emergency Services Levy has been condemned, with news emerging that councils are being let off from paying their share but no relief is being offered to insureds...
icare supports Mansfield Awards
28 May 2020
NSW state insurer icare has announced its continuing support for the industry’s premier claims awards – the Mansfield Awards...