Daily
Insurers may face parliamentary scrutiny
26 July 2019
Insurers could be swept up in a parliamentary committee review process that currently focuses on the big four Australian banks...
No relief on drought as bushfire fears grow
26 July 2019
Weather patterns could cause an early start to the southern bushfire season while current trends suggest no relief is in store for drought-affected areas, a Bureau of Meteorology outlook says...
NIBA names full suite of winning brokers
26 July 2019
NIBA has today finalised the full set of state winners for its broker of the year and young professional broker awards...
Loss assessor AAMC hit by cyber breach
25 July 2019
Motor loss assessing firm AAMC has alerted insurers after an unauthorised cyber breach affected part of its systems...
Shareholders pressure Suncorp to act on fossil fuels
25 July 2019
Environmental campaign group Market Forces has submitted a resolution on behalf of more than 100 Suncorp shareholders, demanding the insurer cuts its ties with fossil fuels...
PSC swoops for Lloyd's brokerage
25 July 2019
PSC Insurance Group has agreed to buy London-based Lloyd’s broker Paragon International for a base consideration of £42 million ($75.2 million), the listed brokerage announced today...
Challengers threaten big insurers’ SME stranglehold
24 July 2019
The market dominance of IAG, Suncorp and QBE in the lucrative SME space is under threat from the potential entry of new insurers over the next two years, a new Macquarie Research report says...
UK insurtech incubator set to move into Australia
24 July 2019
London-based Insurtech Gateway, an accelerator for insurance-focused digital start-ups, has announced plans to launch in Australia...
Talk before you intervene: ICA calls for regulator to check first
24 July 2019
The Insurance Council of Australia has called for the regulator to carry out confidential checks with firms before it publicly announces planned interventions over any products it believes will cause consumer harm...
Steadfast merges three SA brokers
23 July 2019
Steadfast is combining three well-known SA brokerage names into a new business, as the network continues to encourage regional mergers...
PI crisis continues despite reform pledge, surveyors warn
23 July 2019
The Australian Institute of Building Surveyors says ministers have failed to address the immediate professional indemnity insurance crisis, focusing instead on long-term reform...
Insurers renew push for no-fault CTP scheme
23 July 2019
A no-fault compulsory third party (CTP) scheme is what Queensland needs if the state is to put a stop to the widespread practice of “claim farming”, a parliamentary committee has heard...
Gallagher-SRS lawsuit settled out of court
19 July 2019
The legal dispute between six former owners of the SRS underwriting agency and major broker Gallagher has been settled out of court...
QBE takes $85 million hit from UK rate change
19 July 2019
QBE has warned a smaller-than-expected change in the interest rate used in UK personal injury calculations will have a $US60 million ($85 million) impact on claims liabilities...
Property, liability rates on the rise
19 July 2019
Catastrophe-exposed property premiums in Australia are rising 10-20% while general liability rates are also increasing strongly in some parts of the market, Willis Towers Watson’s July update says...
Building crisis: ICA calls for end to ‘blame game’
18 July 2019
The Insurance Council of Australia has today called for swift further action to restore confidence in the troubled building industry, after federal and state ministers pledged to work together to deal with the professional indemnity insurance impasse...
ASIC to ban insurance ‘product peddlers’
18 July 2019
The Australian Securities and Investments Commission is set to ban unsolicited telephone sales of consumer credit insurance and life cover ahead of wider anti-hawking reforms...
360 builds construction presence with acquisition
18 July 2019
360 Underwriting Solutions, the agency set up by former senior Allianz executives Denis Morrissey and Chris Lynch, has acquired a 50% stake in online insurance underwriting agency eSentry, adding construction capability to a rapidly expanding portfolio...
APRA to sharpen focus on insurance, culture
17 July 2019
The Australian Prudential Regulation Authority is set to create an insurance division as part of a proposed overhaul that will also sharpen its focus on governance and cultural issues...
Fels puts insurers ‘on notice’ over levy collection
17 July 2019
NSW Emergency Services Levy Insurance Monitor Allan Fels has warned insurers he will be watching closely to prevent overcollection of the Emergency Services Levy...