Daily
Is self regulation dead? CCI failure reveals size of challenge
09 August 2019
Consumer credit insurance failings highlight the challenges of industry self regulation as the financial services sector seeks to win back lost trust, Australian Prudential Regulation Authority Chairman Wayne Byres says...
400,000 NAB customers notified of 'junk insurance' class action
09 August 2019
In one of the largest court-ordered notices in the nation's legal history, more than 400,000 Australians were today notified they may be eligible for a class action accusing National Australia Bank of selling “junk” consumer credit insurance...
NSW reforms shine light on CTP insurer performance
09 August 2019
The NSW Government has endorsed reforms aimed at measuring and reporting on the performance of compulsory third party insurers...
Commercial pricing powers ahead in latest quarter
08 August 2019
Australia and New Zealand commercial pricing gains have accelerated in the second quarter, outpacing global increases, as property, financial and professional indemnity rates rose, Marsh says...
Asia exit boosts IAG’s ledger
08 August 2019
A lucrative business exit in Thailand helped IAG achieve a 16.6% rise in annual net profit to $1.08 billion as the sale offset a marked decline in the profitability of domestic insurance operations...
Water damage claims topping fire, burglary: Chubb
08 August 2019
The size of household internal water damage claims has risen 72% in the last five years and the issue is now a more common and costly risk for properties than burglary or fire, Chubb says...
Suncorp’s Marketplace CEO exits as strategy revamped
07 August 2019
Suncorp Marketplace CEO Pip Marlow will leave the business as the group shifts its strategy following the departure earlier this year of Michael Cameron...
Regulation bites: Allianz cans CCI
07 August 2019
Allianz has dropped all its consumer credit insurance business after a comprehensive review, saying it was no longer cost effective after a regulatory crackdown...
ICA explains its ‘crisis of confidence’ in building sector
07 August 2019
The Insurance Council of Australia has told an NSW inquiry into building standards why insurers have developed a “crisis of confidence” in the construction industry – and what can be done to bring them back to the table...
Spotlight on Suncorp as earnings season begins
06 August 2019
Suncorp kicks-off the insurance earnings reporting season tomorrow, with IAG to follow on Thursday and QBE next week as analysts look for updates on company strategies and the impact of rising premiums and falling interest rates...
A nation under threat: insurance leader calls for climate action
06 August 2019
The resilience of Australia is at stake as the effects of climate change take hold, Swiss Re’s local head Mark Senkevics has warned...
Anti-coal stance 'benefits insurers long-term'
06 August 2019
Insurers cutting back on cover to the coal sector may lose business in the short term, but the long-term benefits could be considerable, data and analytics company GlobalData says...
Canberra misconduct probe: AUB marks down $4.6 million
02 August 2019
AUB Group says it has completed an investigation into alleged financial misconduct at its subsidiary Austbrokers Canberra – but a police probe continues...
Gallagher draws a line under Pen speculation
02 August 2019
Gallagher insists no discussions have taken place on a potential sale of its Pen Underwriting operations in Australia – and it says it has “no intention” to sell the business...
Insurers close 60% of Townsville claims
02 August 2019
Six months after devastating floods hit the north Queensland city of Townsville, 60% of insurance claims have been closed – but more than 400 have been denied...
Not for sale: Gallagher holds on to Pen
01 August 2019
Market speculation that Gallagher is selling its Pen Underwriting operation in Australia might have been correct recently, but not any more...
WTW buys Australian M&A broker
01 August 2019
Willis Towers Watson today announced the purchase of Risk Capital Advisors, an Australia-founded insurance broker in the mergers and acquisitions space...
Early kickoff: NSW bushfire danger period starts two months early
01 August 2019
The start of the bushfire danger period has been brought forward by two months in much of NSW as 98% of the state battles drought...
Suncorp Acting CEO rejects 'confusing' retail narrative
31 July 2019
Suncorp Acting CEO Steve Johnston says the company has confused investors by trying to be the “Amazon of financial services” and it’s time to refocus on its insurance and banking identity...
Flawed focus: ICA slams ACCC for covering old ground
31 July 2019
An inquiry into northern Australia’s premium affordability problem is revisiting “flawed ideas” that are destined to fail, warns the Insurance Council of Australia...