Daily
Hayne fallout: a chance to rethink broker commissions
05 February 2019
The Federal Government is set to review general insurance broker commissions and non-monetary benefits in three years after Commissioner Kenneth Hayne made clear that he is generally opposed to financial services regime exemptions and carve-outs...
Townsville flood claims: $45 million and rising
05 February 2019
Losses from the “once-in-a-century” floods in Townsville are mounting quickly as authorities continue to assess the scale of damage in the north Queensland city...
Broking doyen Frank Hoffmann dies
05 February 2019
Frank Hoffmann, a leading light in the establishment of professional insurance broking in Australia, died in Sydney last night after a short illness...
Townsville floods: Damage mounts as rain keeps falling
01 February 2019
Extraordinary rainfall continues to hit the Townsville area, with some areas experiencing almost a year's rain over several days and more than 50 homes already damaged...
Ditching insurance: The unintended outcome of the royal commission
01 February 2019
Mistrust in the insurance sector driven by the Hayne royal commission could result in increasing levels of underinsurance, an insurance leader has warned...
Hayne delivers final report to Governor-General
01 February 2019
Commissioner Kenneth Hayne today submitted his final report on financial services misconduct to Governor-General Sir Peter Cosgrove, as the insurance industry braces for potential impacts...
Unreformed and rising: ESL payments set to jump
31 January 2019
NSW emergency services levy payments are set to surge as the state government improves firefighter access to workers’ compensation and buys more aircraft ahead of the next bushfire season...
Sydney hailstorm claims ‘could hit $2 billion’
31 January 2019
Claims from the hailstorm that battered Sydney before Christmas could eventually be as high as $2 billion and lead to more premium rises, according to an equity analyst...
Sit up and listen: NZ risks losing billions from rising sea levels
31 January 2019
The Insurance Council of New Zealand has renewed calls for a national response to climate change after a new study estimated at least $NZ14.1 billion of local government assets are at risk from rising sea levels...
Commercial rates keep rising – and so do regulatory worries
30 January 2019
Commercial premiums are set to keep rising this year and profitability is improving, but concerns about regulatory reactions in the wake of the Hayne royal commission continue to cast a shadow over the industry...
Steadfast acquires stake in Indigenous broker
30 January 2019
Steadfast has announced the acquisition of a 26% stake in Indigenous-owned brokerage Origin Insurance Brokers...
Beefing up: ASIC turns focus on enforcement
30 January 2019
An internal review has recommended that the Australian Securities and Investments Commission establish a dedicated enforcement office to beef up the corporate regulator’s supervisory activities...
Royal commission: Final report release date revealed
29 January 2019
The Hayne royal commission’s final report will be released on Monday after the close of trading on the Australian Securities Exchange, Treasurer Josh Frydenberg says...
Former NIBA president awarded Australia Day honour
29 January 2019
Well-known WA broker Alan Bishop is among industry participants to be recognised in this year’s Australia Day Honours...
Fires and floods: Property losses mount
29 January 2019
Bushfires continue to sweep across Tasmania, with hot and windy weather predicted to resume tomorrow...
D&O is ‘canary in the coalmine’ for law reformers
25 January 2019
Soaring directors’ and officers’ premiums and insurers leaving the market are a sign that “something is not quite right” in the securities class action environment...
Industry moves: Borden joins IA, McKinnis goes to CBN
25 January 2019
Former QBE executive Andrew Borden has joined Insurance Advisernet (IA) in the latest in a series of summer industry moves...
Trade credit claims spike points to growing insolvency risk
25 January 2019
The economy could see more businesses becoming insolvent, with the number of trade credit insurance claims shooting up 41% in the December quarter from a year earlier...
Insurers back light-touch CTP changes for driverless cars
24 January 2019
Insurers are mostly favouring minimum changes to compulsory third party (CTP) schemes in preparation for driverless cars, while WA’s state-owned authority has taken a different stance and says new solutions are needed…
All change at Marsh as JLT chief takes Leney’s Pacific role
24 January 2019
Marsh and JLT are working through further appointments for the Australian businesses after new roles for Nick Harris and Scott Leney were announced in the wake of a takeover deal set to be completed within months…