AGL offers Honey home insurance to customers
19 August 2021
Power company AGL is investing $3 million in Honey Insurance and offering the insurtech’s products to customers building a new home, or renting...
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Fast Cover Travel, Upcover win Finder awards
19 August 2021
Fast Cover Travel Insurance has taken out comparator Finder’s 2021 Best Insurance Innovation award while Upcover took this year’s honours for Best Insurtech Innovation...
Workers' comp fraudsters to return $80,000
19 August 2021
WorkSafe Victoria says two men caught separately receiving benefits from the workers’ compensation scheme while working will have to return more than $80,000 between them, after they pleaded guilty in court...
ICA pushes further add-on regulation changes
18 August 2021
The Insurance Council of Australia has proposed further changes to deferred sales model draft regulations, arguing rules hammered out after previous consultations are still unnecessarily sweeping up business clients and posing problems for buyers of boats and livestock...
Compensation scheme fails to address 'moral hazard': brokers
18 August 2021
The National Insurance Brokers Association says it has “several concerns” with the proposed compensation scheme of last resort, including the failure to address the issue of “moral hazard”...
Man loses claim dispute over stolen $39,000 gold watch
18 August 2021
A man who removed his Omega Constellation Co-axial 18 carat gold watch and hid it in his car to avoid unwanted attention while visiting a busy pie shop during an afternoon of sightseeing in NSW has lost a theft claim dispute with Lloyd’s...
INsight podcast: how Steadfast captured Coverforce
18 August 2021
Steadfast's $400 million acquisition of Coverforce dominates discussion on the latest edition of the Insurance News podcast...
Former Resilium AR battles over clients
17 August 2021
A former Resilium authorised representative that had its agreement terminated following insurer concerns over motor policy details is claiming a breach of client portfolio obligations in a dispute before the NSW Supreme Court...
PSC to acquire Alliance broking business for $24.5 million
17 August 2021
PSC Insurance Group will acquire the broking business of Alliance Insurance Broking Services, which is selling the operations as part of undertakings it gave to the Federal Court, for $24.5 million...
Harden joins Guy Carpenter as Asia Pacific President
17 August 2021
Guy Carpenter has appointed Michael Harden as President of Asia Pacific, effective immediately, after the former Willis Re executive recently won a court battle clearing the way for him to join the reinsurance broking firm...
Home policy 'doesn't cover liability for fatal microlight crash'
17 August 2021
The Australian Financial Complaints Authority has upheld a decision by Suncorp to deny a customer’s claim for potential legal liability after a fatal aircraft accident, ruling the home and contents policy he held with the insurer excludes cover for business activities...
Campaigners flag concern as coal mutual plan progresses
13 August 2021
Environmental activists have urged the insurance industry and governments to snub plans to establish a mutual to provide cover for the Australian coal industry and its service providers...
Some shift in difficult property and casualty market: Honan
13 August 2021
The property and casualty market remains challenging overall, but a shift started to be seen toward the end of the June quarter around pricing and increased levels of competition for “good risks”, Honan says in its latest quarterly update...
QBE loses short-stay landlord dispute over COVID restrictions
13 August 2021
QBE must pay more than $15,000 to a short-stay rental landlord who lost several bookings at a mountain property in Victoria when government restrictions were imposed in response to the COVID pandemic early last year...
Suncorp offers up to $10,000 for resilient homebuilding
13 August 2021
Suncorp is encouraging Queensland homeowners to rebuild stronger homes after an insurance claim with its Build it Back Better initiative, which provides up to $10,000 to eligible customers to improve resilience to natural hazards, water damage, fire and theft...
Rate gains power QBE first-half earnings
12 August 2021
QBE Group says COVID-related business impacts have been “modest” so far this year, as the insurer today announced significantly improved first-half earnings for the six months to June 30...
ASIC offers 'reasonable' enforcement as reforms start
12 August 2021
The Australian Securities and Investments Commission will avoid heavy-handed enforcement of a swathe of reforms taking effect in October as financial services firms grapple with the extensive changes amid the COVID-19 pandemic and lockdowns...
'Computer says no': brokers urge insurers to consider claims history
12 August 2021
The National Insurance Brokers Association has requested insurers give “greater consideration” to providing cover for clients with good claims experience as the hard market continues...
AFCA explains earth movement rulings
12 August 2021
The Australian Financial Complaints Authority has explained in detail how it arrived at a spate of claim dispute resolutions related to earth movement and insurance cover...
IAG sets out improvement plans after loss
11 August 2021
IAG says a turnaround in its Australian intermediated business will be a key plank in achieving improved performance as the insurer aims to leave behind issues that hit its results last financial year...