Daily
'Pitching a tent in a hurricane': code revamp nears sign-off
25 September 2019
The final revamped General Insurance Code of Practice is set to be presented for Insurance Council of Australia board approval at the end of next month, following a lengthy review that ran into the Hayne royal commission...
Northern Australia: mitigation is the answer, APRA says
24 September 2019
Investing more in public mitigation measures is the only way the “root cause” of northern Australia’s insurance affordability woes can be sustainably addressed, the Australian Prudential Regulation Authority says...
Youi set to exit NZ market
24 September 2019
Youi has agreed to sell its New Zealand home, contents and motor portfolio to No. 3 insurer Tower for $NZ13 million...
Rising claims costs an issue post-Townsville
24 September 2019
Rising water damage repair costs and the impact of claims preparers have emerged as issues for the industry in the wake of the Townsville floods this year, the annual Claims Convention was told today...
Allianz plans Sydney memorial service for Donna Walker
20 September 2019
Allianz will hold a special memorial service on Monday for Chief Technical Officer Donna Walker, who died while holidaying in East Africa earlier this month...
Rise of the dash cam: increasing numbers use footage for claims
20 September 2019
The number of drivers using dash cam footage to help with insurance claims has soared by 92% over the last two years, according to a new survey by Allianz Australia...
Industry is ready to Dive In again
20 September 2019
The annual Lloyd’s global Dive In Festival is set to mark its fifth year next week with events in Australia and around the world to promote greater inclusion and diversity in the industry...
Force insurers to cover northern risks, says MP
19 September 2019
Queensland MP George Christensen has supported linking insurance licensing with an obligation to provide cover in northern Australia, after continuing to hear complaints about lack of availability and soaring premiums...
AFCA urges blanket ban on unsolicited sales
19 September 2019
Unsolicited sales of all financial products should be banned, according to the Australian Financial Complaints Authority...
Hayne reform sparks 'full rethink' of insurers' pay systems
19 September 2019
Looming reforms to remuneration practices mean insurers would need a “full rethink” of how performance-based incentives are awarded, according to actuarial consultancy Finity...
Lloyd's first-half profit jumps after investments boost
18 September 2019
Lloyd’s today revealed its first-half profit before tax has jumped to £2.3 billion ($4.2 billion) from £600 million ($1.1 billion) in the year-earlier period, after the result was boosted by an improved investment result...
Don't fall behind: EY predicts 'next wave' insurance scenarios
18 September 2019
Insurers risk being left behind if they fail to adapt to changes to traditional business models brought about by disruptive technology and shifting customer demands over the next decade, EY warns...
VBA takes tough line on engineer linked to fire-hit tower
18 September 2019
The Victorian Building Authority is fighting a fire engineer’s attempt to stop a disciplinary process against him after he sought an injunction from the Supreme Court of Victoria...
Court takes a stand over replacement vehicles
17 September 2019
Drivers who accept vehicles from credit hire companies after car accidents could be left thousands of dollars out of pocket following a series of NSW Supreme Court decisions...
Dam right: insurers back higher Warragamba wall
17 September 2019
Insurers believe community concerns about raising the height of the Warragamba Dam wall must be balanced against the “paramount importance” of reducing the risk of flood and saving lives and property in Western Sydney...
Roma gets a flood risk tick after mitigation works
17 September 2019
The Queensland Government has announced a downgrade in the flood risk for more than 500 properties in the southwestern town of Roma following the completion of an $8.3 million mitigation project...
Bolt from the Blue: AIMS survey shows disruption in action
13 September 2019
Disruption is starting to have a material impact on the shape of Australia’s general insurance industry, with the success of new entrant Blue Zebra the perfect example, according to the latest AIMS member survey of insurers...
ICA says draft product rule regulations fall short
13 September 2019
The Insurance Council of Australia will be pushing for further clarity in draft regulations for financial product design and distribution obligations as concerns over the controversial new regime remain...
Northern Australia: ICA rejects ‘quick solution’ to ease premium woes
13 September 2019
Disaster risk mitigation is the answer to the north’s long-running premium affordability problem, the Insurance Council of Australia says, as it warns against resorting to “quick solutions” that could backfire...
Cricket star Starc stands his ground after Lloyd’s denies claim
12 September 2019
Australian fast bowler Mitchell Starc insists he is owed $1.5 million under a total disablement policy issued by a Lloyd’s syndicate...