Hotel's COVID rent drop an uninsured lease matter: AFCA
12 May 2021
A landlord who agreed to accept a reduced rate of rent from his hotel-operator tenant when COVID restrictions ate into guest bookings has lost a claim dispute with his insurer...
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INsight podcast: the future of dealing with natural disasters
12 May 2021
The Insurance News podcast focuses on two major industry talking points of the last decade that have come to a head in recent days – reinsurance pools and significant investment in disaster mitigation measures...
Businesses not confident on 'evolving' cyber threat: Gallagher
11 May 2021
Businesses are often not confident their systems are protected from sophisticated cyber criminals and many aren’t sure their data breach response plan meets requirements, a Gallagher Australia report has found...
Suncorp ready for 'active role' in reinsurance pool design
11 May 2021
Suncorp CEO Steve Johnston has voiced support for the Federal Government’s $10 billion guarantee to set up a cyclone reinsurance pool for northern Australia, saying the insurer is keen to use its knowledge of the region to help with the design of the scheme...
AFCA decision on Allianz add-on complaints sparks debate
11 May 2021
The Australian Financial Complaints Authority has defended its decision not to determine car dealer add-on insurance cases if the complainants have not opted out of a class action lodged against Allianz, dismissing as “without merit” criticism from claims management firm Claimo that the move was unfair to its clients...
Funds released for 22 flood mitigation projects
11 May 2021
The Federal Government has identified 22 flood mitigation projects around the country that will share $50 million released from the Emergency Response Fund...
Reinsurance pool: will it work, and is it fair?
07 May 2021
The Federal Government’s $10 billion cyclone reinsurance pool has been widely and publicly welcomed by the insurance industry – but not so very long ago there was almost universal opposition...
Fire caused by tenant's cannabis cultivation 'not covered'
07 May 2021
The Australian Financial Complaints Authority has upheld a decision by Commonwealth Insurance to decline a claim for fire damage at an investment property that was likely caused by electrical equipment installed by the tenant for cultivating cannabis...
Swiss Re launches new solution for climate risk
07 May 2021
Swiss Re Corporate Solutions says it has introduced an initiative to help Asia-Pacific companies assess physical climate risk impacts on their global portfolios as businesses face increasing scrutiny over potential exposures...
ANZIIF 'night of nights' award ceremony to return in October
07 May 2021
The Australian and New Zealand Institute of Insurance and Finance will host its annual awards celebration at The Star Event Centre in Sydney on October 26...
Flood claims to fall short of loss reality: Risk Frontiers
06 May 2021
Claims data for NSW flooding in March won’t reflect the full extent of damage as prohibitive insurance costs meant many people with properties at risk from inundation had not taken out cover, Risk Frontiers says following research on Mid North Coast impacts...
Guy Carpenter unveils new catastrophe advisory group
06 May 2021
Reinsurance brokerage Guy Carpenter has launched an Asia Pacific Catastrophe Advisory Group, to be led by Sydney-based Senior Vice President Jeremy Waite...
Marine cargo rates set to rise as losses mount: Aon
06 May 2021
General rates for marine cargo in Australia are set to rise by as much as 10% over the next two years, driven in part by growing market losses, Aon says in a quarterly update...
Insurer wins dispute over claim to fix 40-year-old carport, patio
06 May 2021
A new property owner seeking rectification costs from his insurer for a carport and patio addition made in 1979 has lost a claim dispute...
New disaster agency gains $600 million mitigation funding
05 May 2021
The Federal Government says $600 million will be invested in a new disaster preparation and mitigation program to be managed by a National Recovery and Resilience Agency...
QBE reiterates climate commitment, raises management gender targets
05 May 2021
QBE Insurance Group is pushing ahead with the “orderly transition” of its business towards climate goals set by the Paris Agreement and is aiming to have more women in its leadership and board ranks, Chairman Mike Wilkins told shareholders at today’s AGM...
166kmh in a 40 zone: 'reckless' driver loses claims dispute
05 May 2021
A driver estimated to have been travelling at 166kmh seconds before colliding with another vehicle in a 40kmh zone has lost his claim dispute with Suncorp...
INsight podcast: pool announcement makes waves
05 May 2021
The long-expected confirmation of a government cyclone reinsurance pool is the focus of the latest edition of the Insurance News podcast...
Insurers pledge to work with Treasury on reinsurance pool design
04 May 2021
The Insurance Council of Australia says the industry will work with a Treasury-led taskforce on the design and operation of a cyclone-region reinsurance pool that will come into effect from July next year...
Latest Marsh index suggests 'turning point' in pricing
04 May 2021
Commercial rates in the Australia-led Pacific region and globally grew at a slower pace in the three months to March, according to Marsh, raising expectations that the market may have peaked after several quarters of record-breaking increases...