Daily
‘Dynamic, serious situation’: bureau warns on NSW flood risk
04 April 2024
Severe weather in NSW could cause Hawkesbury-Nepean River flooding and bring intense rainfall to a region extending from the state’s south to north of Sydney, the Bureau of Meteorology has warned...
Suncorp to sell NZ life business in $375 million deal
04 April 2024
Suncorp will sell its New Zealand life business to Resolution Life for $NZ410 million as it continues to divest non-core assets and focus on its general insurance operation...
Councils seek answers as levees fail to hold back premium surge
04 April 2024
Queensland local governments say insurers are not recognising the impact of levees in reducing flood risk in their communities as premiums continue to soar...
Insurer wins battle over rainwater damage to home
04 April 2024
A homeowner will not be reimbursed for water damage to his investment property after a claim dispute hearing found an incorrect roof installation was the main factor behind the loss...
Aon sees good signs for mid-year reinsurance renewals
03 April 2024
Reinsurance buyers at April renewals benefited from a “dramatic shift” towards ample property catastrophe capacity, in a trend that bodes well for the mid-year period, Aon says...
Disaster Ready Fund should more than double, councils say
03 April 2024
The Federal Government’s Disaster Ready Fund is heavily oversubscribed and needs more than twice its current funding to protect communities from future natural disasters, the Australian Local Government Association says...
Traveller loses claim dispute after misstep on trip cover
03 April 2024
A traveller who was forced to end his Bali holiday early when his wife became sick will not be paid for his losses after his insurer argued the expenses occurred outside its period of cover...
Disaster package earmarks $5 million for mitigation schemes
03 April 2024
The Federal Government is investing more than $5.4 million in four disaster resilience projects, including drone research to enhance bushfire risk reduction...
Intermediaries’ half-year premium tops $21 billion
02 April 2024
General insurance intermediaries invoiced $21.24 billion of premium in the second half of last year, up about $1.9 billion on the corresponding period in 2022, the Australian Prudential Regulation Authority says in a revised update...
Lloyd’s hails ‘remarkable journey’ as results confirm turnaround
02 April 2024
Lloyd’s has delivered a £10.7 billion ($20.7 billion) profit before tax, compared with a year-earlier £800 million ($1.5 billion) loss, thanks to a stronger underwriting result and recovery in investments...
IAG names new general counsel
02 April 2024
IAG has appointed former Clayton Utz chief executive partner and board member Robert Cutler as its Group General Counsel...
Fire claim thrown out over parking spot change
02 April 2024
A driver who failed to tell his insurer where his vehicle was being stored has lost his bid to have it covered for fire damage...
Victoria overhauls building authority governance
28 March 2024
The Victorian Government says it's changing governance of the state’s building regulator as part of reforms to increase confidence when people are building, buying or renting a home...
Property owner's claim denied after failing to fix previous flood damage
28 March 2024
A homeowner who did not repair his property after receiving a claim settlement has lost a dispute over his insurer’s denial of a later claim...
WFI champions safer work practices on farms
28 March 2024
WFI Insurance has become ambassador for Farmsafe Australia under a new joint initiative...
INsight podcast: strata under the spotlight
28 March 2024
Recent scrutiny of strata insurance remuneration arrangements is the main topic of discussion on the latest Insurance News podcast...
Baltimore bridge collapse costs could ‘run into the billions’
27 March 2024
The total cost of a Baltimore bridge collapse and associated claims could run into the billions of dollars and add to challenges in the reinsurance market, AM Best said today...
Government moves to legislate commission consent requirement
27 March 2024
The Albanese Government introduced a bill in parliament today to implement the first phase of its response to the Quality of Advice Review final report, after consultations on proposed draft legislation wrapped up last December...
‘Growing acceptance’: insurers embrace AI to resolve claims
27 March 2024
About 90% of insurers in Australia have either implemented or are in the process of introducing chatbots or generative AI for claims resolutions, and 98% anticipate improved speed and efficiency, Gallagher Bassett’s annual survey says...
Traveller who wanted to be with dying father denied cover
27 March 2024
A traveller who called off his holiday to be with his dying father will not be covered for his losses after a dispute body accepted that his insurer had fairly applied exclusions...