25 March 2021
NSW state-owned insurer icare is proposing an increase in workers’ compensation premiums due to cost increases after changes last year were placed on hold due to the need to support businesses during the pandemic...
25 March 2021
The industry should stand up to politicians who engage in “ridiculous” criticism of insurers before claims from this week’s flooding disaster have even been assessed, the Insurance News podcast was told...
24 March 2021
The Insurance Council of Australia has extended the NSW flooding catastrophe declaration to southeast Queensland, while estimating the total value of claims received across both states at $254.2 million...
24 March 2021
Severe floods across NSW and Queensland will lead to an “influx” of claims, but will not hurt insurers’ credit ratings, S&P says...
24 March 2021
A farmer who lodged a claim after 17 of his cattle died in February 2020 has lost a dispute with IAG...
24 March 2021
The NSW State Insurance Regulatory Authority CEO Carmel Donnelly will leave the organisation in the next few months to become chairman of the state's Independent Pricing and Regulatory Tribunal...
23 March 2021
Insurance losses from the flooding catastrophe could surge past $1 billion based on comparisons with past eastern states weather disasters that have caused rivers to burst their banks and inundate properties...
23 March 2021
A gym owner in Victoria has commenced legal proceedings against Hollard Insurance in the Federal Court, after his business interruption claim for losses suffered as a result of the pandemic lockdowns last year was rejected, the law firm acting on his behalf said today...
23 March 2021
The Australian Securities and Investments Commission has carried out a “targeted review” of insurance contracts in advance of the application of unfair contract terms legislation next month...
23 March 2021
Lloyd’s has partnered with New Zealand start-up Bounce to launch a parametric earthquake insurance product in the country - one of the world’s most quake-prone locations as it sits on the edge of a zone of intense seismic activity known as the Ring of Fire...
19 March 2021
COVID-19 impacts totalling $1.3 billion contributed to the Australian general insurance industry last year experiencing its worst financial performance in more than two decades, consultancy Finity estimates...
19 March 2021
Zurich has introduced a new "resilience solutions" business unit in Australia and New Zealand headed by Mervyn Rea, as part of a global advisory initiative...
19 March 2021
Australian Prudential Regulation Authority Deputy Chairman Helen Rowell will assume responsibility for general, life and private health insurance in executive board changes triggered by the retirement last year of Geoff Summerhayes...
19 March 2021
An IAG policyholder who says she was underinsured by almost $600,000 after her house was destroyed in a bushfire has lost a dispute after arguing that the insurer did not advise her on the “appropriate level of cover”...
18 March 2021
Broker usage among small businesses has risen during the COVID-19 pandemic, the 10th anniversary edition of Vero’s SME Index reveals...
18 March 2021
The NSW State Insurance Regulatory Authority says eight measures remain to be completed from a 21-point action plan to improve the performance of icare, with the COVID-19 pandemic and leadership changes contributing to some delays...
18 March 2021
Westpac Group announced today its lenders’ mortgage insurance unit will be sold to Bermuda-based specialty lines insurer Arch Capital Group at book value, further accelerating the bank’s exit from non-core lending activities...
18 March 2021
A holidaymaker who unexpectedly found out she was seven weeks pregnant just three weeks after buying travel insurance has lost a claim dispute after she cancelled an overseas trip...
17 March 2021
QBE says it is doing its “utmost” to support a Gold Coast couple who moved into their new house and discovered a few months later the property was infested with termites - even though it didn't insure the home...
17 March 2021
The National Insurance Brokers Association says broking firms should consult a legal adviser on new design and distribution obligations as a priority as the industry continues discussions on how the new legislation will work...