Daily
Resilium managers 'entitled to sue Coverforce'
13 December 2019
Managers who led the buyout of the Resilium authorised representative firm from Suncorp earlier this year have been told by the NSW Supreme Court they would be entitled to seek damages against Coverforce for deceptive conduct over the deal...
icare's claims model blamed for workers' comp scheme decline
13 December 2019
NSW state insurer icare’s new workers’ compensation claims model is the “primary driver” behind the scheme’s deteriorating performance, according to a highly critical report...
We’ll meet again: no action from Building Ministers’ Forum
13 December 2019
The Building Ministers’ Forum agreed in Canberra today to discuss the professional indemnity crisis in the construction sector with the Insurance Council of Australia at another meeting in February...
AUB's Coverforce acquisition 'could have gone ahead': judge
12 December 2019
A judge has decided that AUB Group’s abandoned acquisition of Coverforce Holdings could have proceeded...
White Island eruption injuries covered
12 December 2019
Australian tourists who were visiting White Island when it erupted will be covered by New Zealand’s Accident Compensation Corporation, while some travel insurers have also confirmed coverage...
Governments slammed over PI inaction as forum looms
12 December 2019
Building surveyors and certifiers have pressed for urgent action to address the worsening professional indemnity insurance crisis on the eve of tomorrow’s Building Ministers’ Forum in Canberra...
Roofers caught in ACCC hailstorm enforcement
11 December 2019
The Australian Competition and Consumer Commission has taken action against two Sydney roofers over Facebook messages about raising prices after tennis-ball sized hailstorms caused widespread property damage last year...
Industry set for more growth: S&P
11 December 2019
Australia’s general insurance industry is on track to perform solidly over the next few years, S&P says in a new report issued today, citing hardening rates and an all-out efficiency drive as key factors that will support earnings growth...
Catastrophes send insurance profits plummeting
11 December 2019
Insurance industry profits fell 12% to $4.4 billion last financial year as catastrophes such as the Sydney hailstorms and the Townsville floods increased natural hazard costs, a KPMG annual review shows...
Tower starts search as CEO decides to return to Australia
10 December 2019
Tower CEO Richard Harding will leave the Auckland-based insurer and return to Australia toward the end of next year after deciding not to extend his contract past its current term...
Building Ministers’ Forum sees fixing PI crisis as a priority
10 December 2019
Resolving the months-long professional indemnity insurance crisis in the construction sector is set to dominate the agenda at the upcoming Building Ministers’ Forum on Friday in Canberra...
Cyber breaches: companies urged to go above and beyond
10 December 2019
Companies should look beyond compulsory data breach reporting requirements to help mitigate potential reputational damage from cyber attacks...
Blue Zebra eyes overseas expansion
06 December 2019
Underwriting agency Blue Zebra is considering expanding overseas following the rapid growth of its Australian operation...
NSW bushfires: 683 homes gone, conditions heading from bad to worse
06 December 2019
At least 683 residential properties in NSW have been confirmed destroyed by the bushfires still ravaging the state, with experts warning today that conditions will sharply deteriorate over the next few days...
Bad news: D&O insurers brace for even more pain
06 December 2019
The unprofitable directors’ and officers’ market will continue to struggle next year, according to Allianz Global Corporate & Specialty...
High Court throws class action curveball
05 December 2019
A High Court decision on class action funding is expected to slow the launch of some litigation by taking away a fast-tracking option, but the level of activity is likely to remain high...
Insurer must pay $40,000 after unjustified fraud accusation
05 December 2019
The Australian Financial Complaints Authority has ordered an insurer to pay a builder more than $40,000 after it unfairly declined a vehicle theft claim...
NZ sets out insurance law overhaul plans
05 December 2019
The New Zealand Government has agreed on key changes to overhaul insurance laws, but will seek more input on whether unfair contract term rules in draft legislation should be brought into line with proposed changes in Australia...
New marine underwriter promises 'innovative solutions'
04 December 2019
Marine-focused underwriting agency RedSky Insurance has started commercial operations this month, led by a team of specialists with more than 96 years of combined industry experience...
Attack of the clones: number plate crime escalates
04 December 2019
Theft and cloning of vehicle number plates is an increasing concern with “far-reaching impact”, the National Motor Vehicle Theft Reduction Council warns...