No easing of hard construction market: WTW
28 July 2021
Heightened underwriter scrutiny and reduced capacity are pushing premiums in the local construction sector higher still, with no relief to the hard market in sight, Willis Towers Watson says...
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IAG employee lifts lockdown spirits with viral video
28 July 2021
It’s tough going right now for many insurance industry employees forced to work remotely as the Sydney lockdown drags on – but one IAG member of staff has brought back some joy with a charming online music video...
INsight podcast: merger meltdowns and lingering lockdowns
28 July 2021
This latest Insurance News podcast discusses the collapse of the Aon/Willis Towers Watson merger, which would have created the largest insurance brokerage in the world...
QBE confirms Costigan exit
27 July 2021
QBE Interim MD Australia Frank Costigan will leave the company on Friday, just days before his successor arrives...
Forcing coverage 'dangerous', ICA tells coal inquiry
27 July 2021
Creating an essential services regime requiring underwriters to cover certain businesses could have adverse ramifications, Insurance Council of Australia CEO Andrew Hall has told a Parliamentary committee inquiry that’s looking at problems facing the coal industry...
Allianz Partners names former Suncorp executive as CEO
27 July 2021
Allianz Partners Australia announced today Christopher McHugh will join the business as CEO on August 2, taking over from Miranda Fennell who has held the role on an interim basis...
AFCA backs insurer in capsized houseboat claim dispute
27 July 2021
An IAG customer who challenged the insurer’s decision to decline her claim for damage to her houseboat after it sank during a storm has lost her dispute before the Australian Financial Complaints Authority...
IAG reports loss as liability costs, provisions rise
23 July 2021
IAG has reported a $427 million full-year loss based on preliminary figures, with provisions hitting the bottom line, and the insurer flagging claim cost impacts in liability classes...
NIBA names SA/NT broker award winners
23 July 2021
Ceduna-based Karen Skinner and Adelaide-based Patrick McCole were today crowned the 2021 SA/NT National Insurance Brokers Association award winners during a virtual ceremony...
'Wintry blast' warning as rain-inducing weather system confirmed
23 July 2021
A “wintry blast” is forecast to hit south-eastern Australia this weekend, while the Bureau of Meteorology also announced the development of a negative Indian Ocean Dipole, which could bring further heavy rain in the coming months...
Allianz told to up earthquake damage offer in claim dispute
23 July 2021
A claim dispute hearing has determined Allianz must triple its offer to WA-based homeowners who were struck by an earthquake almost three years ago...
Court backs QBE on Opal Tower appeal
22 July 2021
A Federal Full Court judgment has found a Liberty Mutual liability policy provides cover for the builder of Sydney’s Opal Tower, while ruling in favour of QBE on a separate claim related to the troubled project...
Steadfast takes majority stake in NT broker
22 July 2021
Steadfast Group has made its first equity acquisition in the NT, taking a majority stake in Darwin-based AFA Insurance Brokers, the listed broking network announced in a statement today...
Insurer wins dispute after declining relative cover for UK mother
22 July 2021
A NSW man who said a QBE travel policy restricting cover for relatives to those living within Australia and New Zealand was discriminatory, did not reflect the nation’s diversity and was a “human rights issue” has lost a claim dispute...
Germany's first floods loss estimate nears $8 billion
22 July 2021
The first estimate of some of the damage from the deadly rain and floods in Germany this month puts insured losses near €5 billion ($8 billion)...
Hawking reforms guidance released for feedback
21 July 2021
The Australian Securities and Investments Commission is seeking feedback on regulatory guidance that will apply to anti-hawking laws due to take effect from October...
Envest acquires stake in Perth brokerage
21 July 2021
Private insurance investment group Envest has taken a “meaningful” stake in Grange Insurance Solutions, a Perth-based broker, the business announced today...
Motorcyclist sent too-late non-renewal notice wins dispute
21 July 2021
A woman issued a non-renewal notice by RACQ only six days before her motorcycle policy expired has won a dispute after she tried to claim for an accident but was told she had no cover...
INsight podcast: APRA talks tough on BI 'deficiencies'
21 July 2021
The review of insurers' risk management frameworks demanded by the Australian Prudential Regulation Authority is the main talking point on this week's Insurance News podcast...
IAG to exit Malaysian joint venture
20 July 2021
IAG will exit its Malaysian insurance joint venture and receive sale proceeds of around $340 million under a proposed deal expected to be completed this financial year, as the insurer completes its retreat from Asia...