Daily
All on board: Steadfast completes IBNA takeover
27 September 2019
Steadfast says all Insurance Brokers Network Australia (IBNA) shareholders have accepted its takeover offer, paving the way for a significant boost to its operations...
Lloyd’s stung into action by ‘ugly’ scale of sexual harassment
27 September 2019
Lloyd’s has vowed to clean up its act after a workplace survey has revealed what CEO John Neal says are “ugly” levels of inappropriate conduct aimed at women employees...
EQC inquiry hears of “deep mistrust”
27 September 2019
Many New Zealanders who have made claims after a catastrophe feel a “deep mistrust” of the Earthquake Commission, private insurers and the building industry...
Bank pays 50% for homeowner who failed to buy insurance
26 September 2019
A determination by the Australian Financial Complaints Authority (AFCA) has forced a bank to pay half the losses suffered by a homeowner who failed to put insurance in place before a fire...
Digital spend will reap rewards, says Suncorp CEO
26 September 2019
Suncorp’s priorities this year are improving performance, strengthening trust, reaping the benefits of technology investments and driving operational efficiency, CEO Steve Johnston said today...
Climate change: deadly heatwaves set to soar
26 September 2019
Global warming could see heatwaves – which kill more Australians than any other natural disaster – triple in frequency and last longer by 2060...
Conflicting view: Allianz pushes for reinsurance pool
25 September 2019
Allianz remains at odds with the industry view on disaster reinsurance pools, arguing that a “well-designed facility” could push down premium costs in northern Australia...
NZ flags moves to bar sales incentives and target add-ons
25 September 2019
Remuneration built around sales targets will be prohibited as part of the New Zealand Government’s plans for a new financial services sector-wide conduct regime to improve consumer outcomes...
'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...