Daily
S&P suggests reinsurers might need a new playbook
04 September 2019
S&P Global Ratings has questioned if reinsurers are “complacent in their centuries-old industry” as they battle the commoditisation of their business and the rise of alternative capital that is “nibbling” at their margins...
Former Chubb chief takes on broker-facing role
03 September 2019
John French has been appointed Chubb’s Head of Global Brokers, Australia & New Zealand, the insurer announced today...
Lloyd’s syndicate quits Asia, but Australia not affected
03 September 2019
Lloyd’s syndicate ArgoGlobal has announced plans to withdraw from Asia in a bid to return the business to profitability after another year of losses...
Battling fraud: Kiwis step up the fight
03 September 2019
New Zealand’s insurance industry has launched a fraud-fighting bureau to prevent crimes estimated to cost insurers up to $NZ614 million ($576 million) a year...
Hayne royal commission a ‘tidal wave’ for insurers
30 August 2019
The Hayne royal commission has been likened to a “tidal wave” that struck the insurance industry, unleashing proposals that will impact on the industry in coming years, according to a leading insurance lawyer...
Done deal: PSC gains approval to buy Lloyd’s broker
30 August 2019
PSC Insurance Group has gained approval from the UK Financial Conduct Authority for its £42 million ($76.1 million) acquisition of London-based Lloyd’s broker Paragon International...
Poll finds general insurance is ‘most trusted’ financial service
30 August 2019
More consumers trust the general insurance industry than any other financial services industry, a survey says...
Aon denies former partner’s ‘blatant poaching’ claim
29 August 2019
Aon Australia has been accused by an association that terminated its insurance partnership of “blatantly and deceptively poaching” its members – a charge the giant broker has rejected...
Protesters demand AIG avoid Adani
29 August 2019
Demonstrators in Sydney today handed AIG a petition demanding the insurer publicly declare that it won’t insure the controversial Adani coalmine project in central Queensland...
IAG flood modelling impacts Coles Insurance
29 August 2019
Flood modelling revisions by IAG are causing subsidiary brand Coles Insurance to cease providing cover for some home policy customers in high-risk locations...
Dual fraudster had prior case of financial deception
28 August 2019
Former Dual Australia claims manager Josie Gonzalez pleaded guilty to gaining financial advantage by deception when she was just 21, decades before she and her husband Alvaro were found guilty of defrauding the underwriting agency of $17.4 million...
Bushfire outlook: ‘active season’ looms as dry, warm spell persists
28 August 2019
Unusually warm and dry conditions since the start of the year have worsened the outlook for the upcoming bushfire season, according to an update released today...
Unfair contracts bill won’t help consumers: ICA
28 August 2019
The Insurance Council of Australia says a draft bill to extend unfair contract terms to the sector will result in higher premiums and worsen problems in the northern Queensland and professional indemnity markets...
IBNA ‘wanted to combine with Austbrokers under one brand’
27 August 2019
The Insurance Brokers Network of Australia (IBNA) wanted to combine its operations with Austbrokers and use AIMS as their brand – but Austbrokers’ owner AUB “showed no inclination” to discuss the plan...
Allianz to refund $8 million over CCI policies
27 August 2019
Allianz Australia will refund more than $8 million to purchasers of consumer credit insurance (CCI) as the Australian Securities and Investments Commission cracks down on the mis-selling of poor-value and worthless products...
AFCA to name insurers involved in disputes
27 August 2019
The Australian Financial Complaints Authority will proceed with its plan to publish the names of insurers and other financial services providers involved in consumer disputes...
ANZIIF awards: Hollard celebrates double success
23 August 2019
Hollard Insurance took out two top gongs at the Australian Insurance Industry Awards as almost 800 industry professionals gathered for the annual event last night...
Surging Chinese market offers ‘common sense’ opportunity
23 August 2019
The Chinese insurance market is set for staggering growth over the next decade, as the country continues to open its doors to foreign investment...
River, storm flood study shows $130 billion NZ exposure
23 August 2019
New Zealand has $NZ135 billion of building assets at risk from river and rainfall flooding during severe weather events, according to a report described as a “first cut” at identifying the level of potential exposure...
Swiss Re Corporate Solutions reviews aviation business
22 August 2019
Swiss Re Corporate Solutions has confirmed it is reviewing the future of its Australian aviation business, as the company looks to improve profitability...