IAG reassures on Greensill after shares slump
09 March 2021
IAG has stressed it has no net insurance exposure to financial company Greensill trade credit policies after its slumping shares were today briefly placed in a trading halt...
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AFCA backs travel insurer after cancer diagnosis forces cancellation
09 March 2021
A Zurich travel insurance policyholder, who did not get full reimbursement for non-refundable cancellation costs incurred when his pre-booked holiday with his partner was called off suddenly, has lost a claim dispute....
EXCLUSIVE: Court documents reveal details of BI test case claims
05 March 2021
Dry cleaning, travel agency and stage clothing enterprises are among nine claimants that will have business interruption cover denials examined in a Federal Court test case brought by the Insurance Council of Australia...
Industry in red as COVID BI claims, catastrophe losses sting earnings
05 March 2021
Revised provisions for pandemic-related business interruption claims and the growing financial hit from natural catastrophes pushed the general insurance industry into underwriting losses last year, according to the Australian Prudential Regulation Authority...
Cyber attack 'pandemic' threatens Australian businesses
05 March 2021
Cyber attackers are evolving more sophisticated, three-pronged attacks to steal organisations’ funds, starting with data exfiltration and encryption, followed by extortion...
Motorist bumps up vehicle’s 'market value' during dispute
05 March 2021
A man who disputed a fall in the market value of his car from more than $20,000 to $15,000 in nine months has eked out an extra $1000 during a claim resolution hearing...
Munich Re names new local MD as Ronnenberg departs
04 March 2021
Scott Hawkins will step into the role of MD Australasia at Munich Re next month, taking over from Ralph Ronnenberg who has held the role for five years...
icare names nine brokers for smaller builders warranty panel
04 March 2021
NSW state-owned insurer icare has appointed nine distributors to its Home Building Compensation Fund panel after completing a tender process...
Court refuses last-minute trade credit extension
04 March 2021
Financial company Greensill has failed in last-minute NSW Supreme Court action taken to avert the expiry of trade credit insurance policies that had provided $US4.6 billion in cover...
French bulldog owner wins $6000 over reneged 'lifetime cover' promise
04 March 2021
A woman promised lifetime cover for her French bulldog has won a claim dispute after an insurer withdrew from selling pet cover and declined to renew her year-old policy...
Broker axed after being found liable for $3.4 million building defects
03 March 2021
Authorised representative group UIG has terminated its relationship with a broker after a court found she engaged in “misleading and deceptive” conduct years before she started working with the network...
Honan acquires Bovill Risk & Insurance
03 March 2021
Honan Insurance Group has acquired professional indemnity and construction specialist Bovill Risk & Insurance Consultants...
PSC buys another two UK brokers for $66 million
03 March 2021
PSC Insurance Group announced today the acquisitions of two UK commercial brokers for $66 million, further expanding its presence in a market where it has invested heavily in the last few years...
INsight podcast: business interruption claims continue to cast a cloud
03 March 2021
The increasingly complex COVID-19 business interruption legal battles, and their impact on insurer earnings, were the focus of this week’s Insurance News podcast...
APRA keeps eye on insurance affordability pressures
02 March 2021
The Australian Prudential Regulation Authority says it is taking a close interest in underinsurance issues and affordability as part of its role in ensuring financial stability...
'Suicidal' claimant loses motor dispute
02 March 2021
A complainant who claimed he suffered a “psychotic” episode that led him to deliberately crash his car into a wall has lost his bid for compensation from his insurer...
icare review calls for revamped relationship with scheme agents
02 March 2021
icare needs to develop more detailed “procedures and principles” to enable better oversight of external agents that are appointed to handle claims on behalf of the workers’ compensation Nominal Insurer scheme, according to a review commissioned by the board of the NSW state insurer...
Cyclone threatens north Queensland coast
02 March 2021
Tropical Cyclone Niran has reached category 2 and is expected to intensify further, the Bureau of Meteorology says...
ICA slams calls for business interruption class action participants
26 February 2021
The Insurance Council of Australia has criticised proposed COVID-19 business interruption class actions, labelling them “premature” while test cases on the issue are still active...
Wivenhoe class action partially settled for $440 million
26 February 2021
The Queensland Government and its statutory body, SunWater, have agreed to settle the Wivenhoe and Somerset class action for $440 million, law firm Maurice Blackburn announced today...