Lloyd's returns to profit after pandemic hit
10 September 2021
Lloyd’s has reported a £1.4 billion first-half profit, turning around its performance after the pandemic drove a year-earlier loss of £400 million...
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VBA funds fire safety system research
10 September 2021
The Victorian Building Authority is supporting Deakin University research aimed at better understanding defects in “passive” fire safety systems in apartment buildings...
Pregnant traveller who scrapped Brazil trip over Zika loses dispute
10 September 2021
A woman who cancelled a planned trip to attend her brother’s wedding in Rio de Janeiro when she became pregnant and was medically advised not to go due to health risks from the Zika virus has lost a claim dispute with QBE...
Quarantine Act back in focus in BI court hearing
09 September 2021
Business interruption insurance exclusion wordings citing the repealed Quarantine Act have come back into focus in the test case hearing currently before the Federal Court...
R U OK? Insurance News conducts industry wellness survey
09 September 2021
Insurance News is marking R U OK? Day by inviting readers to participate in an anonymous wellness survey to gauge how industry members are coping in difficult times, and what could be done better to support them...
Man who injured ankle on a dare to repay $100,000 workers’ comp
09 September 2021
A Melbourne man who claimed he injured his ankle jumping from a work truck when it was actually hurt while leaping a bush on a dare during a night out has been ordered to repay $103,316 in workers’ compensation payments and fined $5000...
Stink over dead possum triggers claim dispute
09 September 2021
A Hollard customer who insisted his landlord insurance policy covered for loss of rental income caused by the stench of a dead possum has lost his dispute with the insurer...
IAG ditches IAL brand as consolidation announced
08 September 2021
IAG will withdraw its IAL brand, consolidating its offerings of personal lines products in the broking space under its CGU label instead...
ICA urges National Cabinet action on borders
08 September 2021
The Insurance Council of Australia has called on National Cabinet to develop arrangements to assist the industry’s natural disaster responders as the country approaches the high-risk catastrophe season with COVID-19 border restrictions hindering travel...
Former Munich Re local COO to head Insurtech Australia
08 September 2021
The board of Insurtech Australia has named Simone Dossetor as its new CEO, effective in October, as co-founder and current chief Rita Yates departs to pursue new challenges in innovation...
INsight podcast: BI cases lead to testing times
08 September 2021
COVID-19 business interruption court cases dominate the latest edition of the Insurance News podcast...
'Eye opener': taxes take up more than a quarter of strata premiums
07 September 2021
Peak body Strata Community Association has again pressed for the removal of taxes on insurance products as a report it commissioned reveals more than a quarter of strata premiums went to government levies such as stamp duties...
Allianz and subsidiary must pay $1.5 million over misconduct
07 September 2021
Allianz Australia and its subsidiary AWP have been ordered by the Federal Court to pay $1.5 million for mis-selling travel insurance policies through Expedia websites, after proceedings taken by the corporate regulator...
Global P&C premiums to more than double: Swiss Re
07 September 2021
Global property and casualty premiums are expected to more than double to $US4.3 trillion in 2040 compared to levels last year, with economic growth and climate impacts driving increases, Swiss Re says in its latest Sigma report...
Insurer must pay claim despite driver's undisclosed drug conviction
07 September 2021
An insurer has been ordered to pay a motor claim despite the policyholder’s failure to provide information about a previous drug conviction...
Industry facing complex challenges: Taylor Fry
03 September 2021
While the last financial year was “improved”, the Australian general insurance industry continues to face major challenges, actuarial consultancy Taylor Fry says...
NSW cladding removal work delayed to new year
03 September 2021
Removal of flammable cladding from apartment blocks under the NSW Government Project Remediate program will commence following the summer holiday period, after it was previously expected work would begin by the end of this year...
Arch aims to grow Australia LMI business
03 September 2021
Bermuda-based specialty lines insurer Arch Capital Group is looking to further grow its presence in Australia after completing its acquisition of Westpac’s lenders’ mortgage insurance unit for $350 million at book value...
RAC customer loses claim dispute over sewage spill
03 September 2021
An RAC Insurance customer who made an unsuccessful claim for repairs to his residential property’s blocked sewage pipes has failed in his dispute with the insurer...
Hurricane Ida losses heading for $20-34 billion
02 September 2021
Hurricane Ida insured losses could reach $US15-25 billion based on early estimates, with the storm likely to be a major event for the reinsurance sector, S&P Global Ratings says...