Daily
icare workers' comp scheme reports $876 million loss
22 November 2019
NSW state-owned icare has reported a $876 million net loss for its workers' compensation Nominal Insurer scheme last financial year amid rising medical costs and falling bond yields...
NIBA backs cyclone reinsurance pool review
22 November 2019
The National Insurance Brokers Association has welcomed an agreement between the Federal Government and insurers to investigate the feasibility of a cyclone reinsurance pool...
CCI fallout mounts as ANZ, Westpac face new class actions
22 November 2019
The aftermath of Australia’s major lenders selling near-worthless insurance over many years has deepened, with ANZ and Westpac hit by new class actions just days after NAB agreed to almost $50 million in compensation to customers...
Austbrokers' Nigel Thomas to depart AUB Group
21 November 2019
Austbrokers Divisional Chief Executive Nigel Thomas will depart AUB Group effective next month after his position was made redundant...
NAB capitulates: bank agrees to pay $50m CCI award
21 November 2019
The Hayne royal commission has notched up a class action win for the first time after NAB agreed to pay $49.5 million to settle a group claim over “junk” credit card and personal loan insurance...
Lloyd's unveils #SpeakUp culture campaign
21 November 2019
Lloyd’s has initiated a new campaign to counter unacceptable behaviour in the market and accelerate a culture of integrity, respect and inclusion across its market...
InterRisk MD Phil Kearns departs amid AUB reforms
20 November 2019
AUB-owned broking firm InterRisk has appointed an interim MD to take over from Phil Kearns, who has left the role this week as the group undertakes wider reforms...
Sukkar tells Queensland to axe insurance tax
20 November 2019
Federal Assistant Treasurer Michael Sukkar has called on the Queensland Government to abolish stamp duty on insurance policies to counter rising premium prices in the state’s north...
IAG to buy NRMA’s car repair business
20 November 2019
IAG announced today it has an in-principle agreement to acquire MotorServe, the motor vehicle repair specialist owned by NSW-based National Roads and Motorists’ Association (NRMA)...
Winds of change: insurers think again on reinsurance pool
19 November 2019
Did the insurance industry really agree on Friday to help investigate a government-funded cyclone reinsurance pool – something it’s been fighting against for years?
Losses mount as Queensland hailstorm added to catastrophes list
19 November 2019
Insured losses from the Sunshine Coast hailstorm have risen to at least $60 million from 7500 claims, the Insurance Council of Australia says in an update today...
CommInsure pleads guilty to hawking, refunds $12 million
19 November 2019
CommInsure pleaded guilty today in a Sydney court to 87 counts of hawking and is refunding more than $12 million to customers who were incorrectly sold life insurance products...
Insurance chiefs meet politicians over mitigation, affordability
15 November 2019
Insurance company executives met with Assistant Treasurer Michael Sukkar in Townsville today to discuss mitigation measures and the affordability of insurance in northern Australia...
SMEs risking financial ruin: QBE report
15 November 2019
SMEs are risking going out of business through not having the right insurance, but relatively few are seeking advice from brokers, a new QBE report says...
Bushfires: insurers face $100 million losses so far
15 November 2019
Insured losses from the bushfire catastrophe in NSW and Queensland have climbed to $100 million from 900 claims, according to the latest update today from the Insurance Council of Australia...
Travel cover dominates insurance disputes
14 November 2019
Travel claims account for most general insurance disputes since October 1, when the Australian Financial Complaints Authority started naming companies in its rulings...
NSW inquiry lists measures needed to restore builders’ PI
14 November 2019
A NSW Upper House inquiry into the state’s troubled building industry has made 19 suggestions to address the raft of problems that have forced insurers to raise premiums and impose strict exemptions on professionals’ insurance cover...
Growing insurtech announces Bunnings partnership
14 November 2019
Australian insurtech Evari has partnered with Bunnings to offer insurance to more than 700,000 customers...
Bushfires: ICA extends catastrophe zone to Queensland areas
13 November 2019
The Insurance Council of Australia has expanded its bushfire catastrophe zone to include Yeppoon and the Sunshine Coast in Queensland as the state braces for weather conditions to worsen in the coming days...
HDI recruits former Allianz chief
13 November 2019
HDI Global has appointed former Allianz Global Corporate & Specialty Pacific CEO Willem van Wyk to head up its regional market management practice in Australasia and ASEAN...