Daily
Covid fallout threatens to worsen next pandemic: Lloyd’s
12 December 2024
Lloyd’s says the global economy could lose up to $US41.7 trillion ($65.48 trillion) in a future pandemic based on analysis of past outbreaks including covid, SARS in east Asia and the 1918 flu...
Reinsurance costs dampen hopes for NZ premium relief
12 December 2024
Reinsurance costs are likely to curb premium relief for New Zealanders despite benign weather over the past year, actuarial consultancy Taylor Fry says...
Youi chief joins ICA board
12 December 2024
Nathaniel Simpson has joined the Insurance Council of Australia board as a non-executive director, replacing Chubb’s Peter Kelaher...
Car theft victim wins damage payout despite key mistake
12 December 2024
A policyholder whose car was stolen while he and his wife put away groceries will be covered for his loss despite leaving the ignition key in the vehicle, after the dispute authority found the couple did not recklessly court the theft...
Suburban hairdresser wins pandemic BI dispute
11 December 2024
A Melbourne hairdressing salon has won a business interruption dispute after it was found revenues fell due to a covid outbreak that happened before government lockdown orders...
MLC to join with Australian rival under $13 billion deal
11 December 2024
MLC Life Insurance will merge with Resolution Life’s Australian and New Zealand subsidiary as part of an $US8.2 billion ($13 billion) acquisition...
Updated smash repair code expected soon
11 December 2024
A draft update to the Motor Vehicle Insurance and Repair Industry Code of Conduct is slated to be released early next year with an invitation for feedback from both industries...
INsight podcast: stepping up on complaints
11 December 2024
The corporate regulator's concerns about how insurers handle complaints are the main topic of conversation on the latest episode of the Insurance News podcast...
IAG to fight second loyalty pricing class action
10 December 2024
Slater and Gordon has launched a class action against IAG’s NRMA Insurance over home cover loyalty discounts, following a similar filing in May related to other brands the company underwrites...
QBE hunts for next claims chief as Fox departs
10 December 2024
QBE’s Jon Fox will step down as Australia Pacific chief claims officer at the end of the year “to explore new opportunities”...
PwC calls for mindset shift as compliance, climate threats loom
10 December 2024
The industry has been urged to adopt a “proactive” mindset in the face of challenges that will shape its fortunes over the next five years and beyond...
Insurers ‘take strides’ towards low-carbon targets
10 December 2024
Half of Insurance Council of Australia members are targeting net zero operations by 2030, and almost two-thirds have linked executive pay rates to climate metrics...
Execs rate economy, blackouts among key threats
06 December 2024
Business leaders rank economic downturn and energy shortages among the five biggest threats facing Australia in the next two years, a World Economic Forum survey has found...
NTI commercial manager becomes UAC chair
06 December 2024
The Underwriting Agencies Council has named Michael Edmonds as chair following its annual general meeting in Sydney yesterday...
Customer fails to make case for cover under long-expired policy
06 December 2024
A car owner has lost his bid for a crash damage payout after an insurer showed his policy expired more than five years before the incident...
AAMI says driver safety tool delivering results
06 December 2024
Suncorp-owned AAMI says policyholders using its driver rewards program have shown safer behaviour on the road...
Insurers told to ‘step up’ as ASIC flags complaint failings
05 December 2024
The Australian Securities and Investments Commission is considering regulatory action over complaints handling failings after a review found insurers are not meeting obligations...
Warning over ‘flow-on effect’ as mental illness surges
05 December 2024
An “unprecedented” surge in mental health claims could have dire consequences for affordability and availability of cover, the Council of Australian Life Insurers warns...
RAC Insurance under strategic review
05 December 2024
WA motoring group RAC has confirmed a strategic review of its insurance business is under way as it looks to improve services for members...
‘Difficult decision’: state strata commissioner steps down
05 December 2024
NSW strata commissioner John Minns has announced he will leave the job after reaching the “limits of what is possible without adequate budget or resourcing”...