Daily
Institute President calls for more female actuaries
08 March 2019
Just 25% of fully qualified actuaries are female, the Actuaries Institute’s newly appointed President Nicolette Rubinsztein said in a speech to mark International Women’s Day today...
Equality not a one-day event: Allianz diversity chief
08 March 2019
Enthusiasm for issues highlighted on International Women’s Day should be maintained throughout the year, as the corporate world makes slow progress on gender diversity, Allianz Australia Head of Diversity and Inclusion Edyta Torpy says...
Aon backtracks on Willis Towers Watson deal
07 March 2019
Aon has backed away from a possible offer for rival broker Willis Towers Watson after yesterday saying it was in the early stages of considering a deal...
Lacrosse ruling could worsen PI ‘crisis’
07 March 2019
The construction industry faces “significant and growing risk” if building surveyors and fire engineers cannot secure professional indemnity cover free from exclusions on combustible cladding, industry groups have warned...
Cyber claims: malicious data breaches soar
07 March 2019
Malicious data breaches have rocketed in Australia in the year since new breach notification legislation was introduced, says cyber specialist CFC Underwriting...
ASIC raids brokerage over fraud allegations
06 March 2019
Federal police officers and officials from the Australian Securities and Investments Commission raided an insurance brokerage yesterday in connection with fraud allegations...
ICA unveils disclosure action plan
06 March 2019
The Insurance Council of Australia has proposed a new approach to standard cover as part of an industry and government action plan to assist consumers, but rejects the Hayne royal commission stance on unfair contract terms...
$2 billion bill: insurers count cost of summer catastrophes
06 March 2019
Combined insured losses from the Sydney hailstorm and devastating floods in north Queensland are closing in on the $2 billion mark in what has been an expensive summer for insurers...
‘Appalling failures’: call for building industry royal commission
05 March 2019
Australia’s construction sector is broken, and requires a royal commission to restore public trust, an industry body claims...
Gallagher buys JLT aerospace broking
05 March 2019
Gallagher has acquired JLT’s global aerospace broking business, including operations in Australia and New Zealand...
QBE pushes back against climate critics
05 March 2019
QBE says its ongoing climate change action program shows it is committed to tackling the threat as the insurer faces new pressure from environmental activists to do more to curb global warming...
Cladding case: Lacrosse owners win $5.7 million
01 March 2019
Apartment owners have been awarded more than $5.7 million in damages following the 2014 flammable cladding-fuelled fire at Melbourne’s Lacrosse building – including $700,000 for spiralling insurance premiums...
Plans unveiled for claims handling reform
01 March 2019
Proposals to make claims handling subject to laws requiring financial services to be delivered efficiently, honestly and fairly have been released as the Government continues its response to the Hayne royal commission...
Actuaries drive home case for mitigation
01 March 2019
Only 40% of Australia’s annual natural peril costs of $11-$12 billion are insured, the Actuaries Institute says in a pre-Budget submission urging increased investment in mitigation...
NRMA flood, run-off shift sparks concern
28 February 2019
NRMA Insurance home cover changes risk increasing confusion over flooding and rainfall inundation and adding to problems for customers choosing between policies, a consumer group says…
Robot revolution ‘won’t erase insurance jobs’
28 February 2019
Artificial intelligence is set to transform the insurance industry, but will not lead to mass redundancies, according to an insurtech founder…
‘Do the right thing’: APRA takes aim at insurers
28 February 2019
Australian Prudential Regulation Authority (APRA) Deputy Chairman John Lonsdale has warned insurers that they shouldn’t wait to be “dragged into action” when concerns are raised about products or services…
Hayne fallout risks affordability, ICA warns
27 February 2019
The Hayne royal commission and other reforms will put the insurance industry under “enormous” pressure as it seeks to maintain affordable pricing, Insurance Council of Australia CEO Rob Whelan says…
Insurtech: ‘get in, or get blown away’
27 February 2019
Incumbent insurance companies must buy their way into insurtech, or risk getting blown away by a “technological typhoon”, an expert warns…
ASIC targets fraud ‘false positives’
27 February 2019
The Australian Securities and Investments Commission is targeting insurer handling of suspected fraud after finding a high level of cases where consumers with legitimate claims are investigated.