Daily
Get smart: brokers urged to sharpen their act in hard market
30 April 2019
Some brokers are risking failure by neglecting underwriters’ needs as the market hardens and capacity tightens, an underwriting agency principal has warned...
Longitude secures Chubb backing in new partnership
30 April 2019
AUB-owned strata specialist Longitude Insurance today announced the start of a new security arrangement with Chubb, which has replaced Vero...
Wellington on shaky ground over premium rises
30 April 2019
Wellington Mayor Justin Lester has suggested the New Zealand Government may need to ensure affordable insurance is available in the earthquake-prone city following IAG’s decision to raise premiums in high-risk areas...
Escape clause gives Lloyd's a double insurance case win
26 April 2019
A classic “escape clause” in a Lloyd’s insurance policy has left Allianz empty-handed in a case of double insurance...
D&O rates rising as class actions keep coming
26 April 2019
The directors’ and officers’ market is continuing to deteriorate for Australian-listed companies as premiums keep rising and insurers moving to improve profitability become more selective...
Big dry continues: no break for drought-hit communities
26 April 2019
Drought is set to continue in many parts of Australia during May as the threat of El Nino remains, the Bureau of Meteorology warns in its latest outlook...
Expanded AFCA powers ‘will push costs, premiums up’
24 April 2019
Empowering the Australian Financial Complaints Authority to investigate legacy disputes may have serious ramifications for insurers who provide financial services-related covers such as professional indemnity...
Mitigation in north ‘can’t wait for 2020’
24 April 2019
Suncorp says action must be taken now to mitigate the impact of natural disasters in northern Australia, and waiting until the Australian Competition and Consumer Commission completes its inquiry would be a mistake...
From compliance to moral courage: ethicist sees a new approach
24 April 2019
An ethicist who works in insurance says the industry should divorce itself from the rest of financial services and build a new culture based around “moral courage”...
EML plans 150 extra staff for NSW workers’ comp team
23 April 2019
EML has opened a new office in Chatswood as it grows its NSW workers’ compensation team, following criticism of its services last year...
ICA ‘open to reforms’ on broker commissions
23 April 2019
Insurers support moves to prevent “excessive” broker commissions, but are against calls for a new fee model, the Insurance Council of Australia says in a submission released today...
Heat rises on cladding transparency
23 April 2019
Commonwealth Bank has supported the creation of a public register to help deal with the flammable cladding crisis, while Westpac is also seeking greater transparency as issues related to building products continue to emerge...
Jail for fraudster who targeted Chubb
18 April 2019
A Perth businessman has been jailed for more than seven years after a major insurance scam was foiled...
Vegan protests pose meaty questions on cover
18 April 2019
Farms, abattoirs and other food-chain producers targeted by animal rights activists may find they are not covered for potential impacts on their businesses...
Sydney hailstorm: two sides of the recovery story
18 April 2019
The huge number of claims being handled after the December 20 Sydney hailstorm has stretched panelbeaters, builders and other tradespeople to breaking point, with insurers coming under increasing pressure to move faster...
Brokers united: commissions fight goes global
17 April 2019
The National Insurance Brokers Association has joined forces with international colleagues to defend commissions and promote broker value...
Climate change initiative tops ICA dinner menu
17 April 2019
The Insurance Council of Australia will make “major announcements” on climate change at its annual dinner next month...
Notre-Dame: iconic cathedral had no insurance
17 April 2019
The French Government will be footing the bill for rebuilding Notre-Dame de Paris as the cathedral is state-owned and has no private insurance cover against fire and other catastrophes...
IAG aims to expand ‘beyond general insurance’
16 April 2019
IAG wants to grow outside its traditional general insurance territory, as it looks to pull back from Asia and focus on the local market...
Johns Lyng wins QBE building repair contract
16 April 2019
Johns Lyng Group has been added to a QBE building repair services panel for work on commercial and domestic properties in NSW, Queensland, Victoria and the NT...