Daily
‘Needs to be addressed’: Dutton demands action on insurability
17 January 2025
Coalition leader Peter Dutton has raised concerns about “uninsurable risks” on a visit to the Victorian tourist town of Halls Gap, which was hit by bushfires and associated disruption over the Christmas period...
LA fire payouts may hit $48 billion: Gallagher Re
17 January 2025
Los Angeles wildfire insured losses are expected to range from $US20-$US$30 billion ($32-$48 billion), with reinsurers picking up part of the tab, Gallagher Re says...
High-end strata ‘faces capacity challenge’
17 January 2025
Capacity problems are affecting the higher end of the strata market despite rising premium rates over the past couple of years that have improved the outlook for insurers, a Brisbane broker says...
Insurer liable for water damage as AFCA rejects seepage exclusion
17 January 2025
A claimant whose home was inundated during heavy rain will be covered for his loss after the complaints authority rejected his insurer’s “broad interpretation” of an underground seepage exclusion...
Strong winds, rain and hail trigger claims in eastern states
16 January 2025
Storms that have swept through NSW and parts of Queensland have triggered calls for emergency help and some early insurance claims as strong winds and heavy rain hit homes and businesses...
ASIC recruits CEO from fellow regulator
16 January 2025
Australian Competition and Consumer Commission CEO Scott Gregson will leave in March to join the corporate regulator...
Ombudsman rejects staged theft concerns in car claim dispute
16 January 2025
A policyholder who reported his car stolen and destroyed will receive a $50,000 agreed value payout despite an insurer’s concerns about his credibility...
Markel names first casualty claims manager
16 January 2025
Markel has appointed Scott Jordan as casualty claims manager, based in Sydney...
Climate inaction the real culprit as LA counts fire costs: Australia Institute
15 January 2025
Insurers that raised premiums are facing criticism better directed at a lack of climate change action, with the Los Angeles wildfires part of escalating global natural disaster impacts, the Australia Institute’s executive director says...
Outlook 2025 conference: speakers announced, early bird extended
15 January 2025
Hollard Australia founder Richard Enthoven and IAG CEO Nick Hawkins have joined the list of expert speakers at the upcoming Insurance News Outlook 2025 conference...
Cyber fears maintain grip on business leaders
15 January 2025
Australian businesses say data breaches, ransomware attacks and other cyber incidents are their biggest concern this year, according to an Allianz global risk survey...
AFCA backs insurer in mystery of missing gold
15 January 2025
A woman who sought cover after losing a gold bar has been denied a payout in a complaints authority hearing, but she will receive $2500 compensation for her insurer’s handling of the claim...
Broker sentenced for selling fake builders’ cover
14 January 2025
An unauthorised broker who sold fake builders’ warranty insurance to NSW construction companies has been fined $8000 and sentenced to 16 months’ imprisonment...
AIG hires former VP for regional agency role
14 January 2025
AIG says former senior VP Gany Subramaniam, who left the insurer in 2019, has rejoined as head of agency and partnership distribution for the Asia-Pacific region...
ARPC, university join forces for cyclone resilience research
14 January 2025
The Australian Reinsurance Pool Corporation has teamed up with the University of Queensland on a three-year resilience study, and has confirmed that all insurers required to participate in its cyclone pool have now joined...
Traveller’s injury falls short of disability definition
14 January 2025
A claimant who suffered a serious ankle injury while boarding a plane has lost his bid for a permanent disability benefit after the dispute authority found the injury does not meet his travel policy requirements...
LA disaster tipped to break wildfire loss record
13 January 2025
The Los Angeles wildfires could cause record insured losses of at least $US20 billion ($33 billion) based on preliminary estimates, as the winter disaster further highlights the implications of rising catastrophe risks...
Quake experts raise risk prediction for Darwin, Victorian region
13 January 2025
Geoscience Australia has identified Darwin and parts of Victoria’s highlands as areas facing increased risk of strong ground shaking in its updated National Seismic Hazard Assessment...
Envest buys into NZ underwriting agency
13 January 2025
Envest will take a “significant” stake in Ando Insurance Group, a New Zealand underwriting agency with more than $NZ500 million ($451 million) in annual gross written premium across personal and commercial lines...
IAG locks in cat reinsurance
13 January 2025
IAG has placed its major catastrophe reinsurance program for the calendar year, with cover obtained for two events up to $10 billion...