Daily
Shareholders pressure Suncorp to act on fossil fuels
25 July 2019
Environmental campaign group Market Forces has submitted a resolution on behalf of more than 100 Suncorp shareholders, demanding the insurer cuts its ties with fossil fuels...
PSC swoops for Lloyd's brokerage
25 July 2019
PSC Insurance Group has agreed to buy London-based Lloyd’s broker Paragon International for a base consideration of £42 million ($75.2 million), the listed brokerage announced today...
Challengers threaten big insurers’ SME stranglehold
24 July 2019
The market dominance of IAG, Suncorp and QBE in the lucrative SME space is under threat from the potential entry of new insurers over the next two years, a new Macquarie Research report says...
UK insurtech incubator set to move into Australia
24 July 2019
London-based Insurtech Gateway, an accelerator for insurance-focused digital start-ups, has announced plans to launch in Australia...
Talk before you intervene: ICA calls for regulator to check first
24 July 2019
The Insurance Council of Australia has called for the regulator to carry out confidential checks with firms before it publicly announces planned interventions over any products it believes will cause consumer harm...
Steadfast merges three SA brokers
23 July 2019
Steadfast is combining three well-known SA brokerage names into a new business, as the network continues to encourage regional mergers...
PI crisis continues despite reform pledge, surveyors warn
23 July 2019
The Australian Institute of Building Surveyors says ministers have failed to address the immediate professional indemnity insurance crisis, focusing instead on long-term reform...
Insurers renew push for no-fault CTP scheme
23 July 2019
A no-fault compulsory third party (CTP) scheme is what Queensland needs if the state is to put a stop to the widespread practice of “claim farming”, a parliamentary committee has heard...
Gallagher-SRS lawsuit settled out of court
19 July 2019
The legal dispute between six former owners of the SRS underwriting agency and major broker Gallagher has been settled out of court...
QBE takes $85 million hit from UK rate change
19 July 2019
QBE has warned a smaller-than-expected change in the interest rate used in UK personal injury calculations will have a $US60 million ($85 million) impact on claims liabilities...
Property, liability rates on the rise
19 July 2019
Catastrophe-exposed property premiums in Australia are rising 10-20% while general liability rates are also increasing strongly in some parts of the market, Willis Towers Watson’s July update says...
Building crisis: ICA calls for end to ‘blame game’
18 July 2019
The Insurance Council of Australia has today called for swift further action to restore confidence in the troubled building industry, after federal and state ministers pledged to work together to deal with the professional indemnity insurance impasse...
ASIC to ban insurance ‘product peddlers’
18 July 2019
The Australian Securities and Investments Commission is set to ban unsolicited telephone sales of consumer credit insurance and life cover ahead of wider anti-hawking reforms...
360 builds construction presence with acquisition
18 July 2019
360 Underwriting Solutions, the agency set up by former senior Allianz executives Denis Morrissey and Chris Lynch, has acquired a 50% stake in online insurance underwriting agency eSentry, adding construction capability to a rapidly expanding portfolio...
APRA to sharpen focus on insurance, culture
17 July 2019
The Australian Prudential Regulation Authority is set to create an insurance division as part of a proposed overhaul that will also sharpen its focus on governance and cultural issues...
Fels puts insurers ‘on notice’ over levy collection
17 July 2019
NSW Emergency Services Levy Insurance Monitor Allan Fels has warned insurers he will be watching closely to prevent overcollection of the Emergency Services Levy...
Allianz ordered to pay ex-manager $1.4 million
17 July 2019
A NSW court has ruled Allianz must pay $1.39 million in damages plus interest to a former manager who alleged he was a victim of bullying and harassment from his immediate supervisor...
Insurers 'should help pay for flammable cladding fix'
16 July 2019
The Victorian Cladding Taskforce has proposed that insurers chip in to pay for cladding rectification works on affected high-rise buildings...
Tributes paid to founder of Melbourne brokerage
16 July 2019
Marty Owen, founding director of Malvern East brokerage Philp, Newby & Owen, has died following a long battle with illness...
IAG buys into car subscription service
16 July 2019
IAG has acquired a majority stake in car subscription and trading platform Carbar after participating with other investors in a $16.8 million capital raising...