Daily
Regulator ‘lacked urgency’ before insurer collapsed, says inquiry
03 July 2019
The Reserve Bank of New Zealand should have acted more forcefully after early signs of trouble at failed insurer CBL instead of giving the company “the benefit of the doubt”, an independent report released today says...
Fraud trial: Gonzalez ‘believed she had a deal’
02 July 2019
Lawyers for Josie Gonzalez and her husband Alvaro Gonzalez have made closing submissions urging a jury to find the couple did not defraud Dual Australia out of $17.4 million...
Reinsurers favouring key clients, says Willis Re
02 July 2019
Reinsurers are continuing to show favouritism among different insurers in property classes, a new report says.
AHI sale: Tokio Marine expanding as IAG sharpens focus
02 July 2019
IAG’s decision to sell its Accident and Health International Underwriting agency to Tokio Marine is a good illustration of changes taking place across the industry...
Fraud trial: Josie Gonzalez says her husband worked 126-hour weeks
28 June 2019
Alvaro Gonzalez worked 16,500 hours in a little over two years providing legal work for Dual Australia, his wife said today...
Insurers face 50% cuts in profits, says PwC
28 June 2019
Insurers in mature markets like Australia may suffer a 50% decline in profits within five years if they don’t find a way to deal with slowing growth, market disruption and shorter insurance cycles, a new report warns...
Time’s running out: brokers urged to vote for Mansfield Awards winners
28 June 2019
Organisers of the third annual Mansfield Awards for Claims Excellence have called on brokers to vote now for the insurers they believe provide the best claims service...
ASIC takes a big stick to insurance mis-selling
27 June 2019
The Australian Securities and Investments Commission has warned that dealing with the harm done through mis-selling insurance will be a major focus over the next year...
Fraud trial: barristers named on Dual invoices were never used
27 June 2019
Josie Gonzalez made a “mistake” when she repeatedly named barristers on invoices for hundreds of thousands of dollars who had never worked for the law firm she and her husband set up...
Building failures: insurers want end to ‘partial and piecemeal’ fixes
27 June 2019
Only a co-ordinated national approach can resolve the growing crisis engulfing the building industry, the Insurance Council of Australia says...
Long story: Kelly tells how IBNA was won over
26 June 2019
Steadfast MD and CEO Robert Kelly says Insurance Brokers Network Australia (IBNA) members who move across to Steadfast will receive shares in the listed company and will remain independent, while also having the option of selling down their equity in future...
Fels comments slapped down in ‘loyalty tax’ tussle
26 June 2019
NSW Emergency Services Levy Insurance Monitor Allan Fels says all home policy renewals from next month must include the previous year’s premium, a move it claims will help consumers overcome what it calls a “loyalty tax”.
Fraud trial: husband charged Dual $1000 an hour to write wife’s work emails
26 June 2019
Alvaro Gonzalez charged Dual Australia $1000 an hour to write emails sent in his wife’s name from her Dual email account, the County Court of Victoria heard today...
Fraud trial: Weeping Gonzalez tells of ‘devastation’
25 June 2019
Josie Gonzalez sobbed in the witness box today as she spoke of her trauma when media published a photograph of her husband and allegations of fraud in mid 2013...
IAG in talks to sell Indian joint venture stake
25 June 2019
IAG has confirmed it is in talks with external parties about selling part or all of its stake in Indian general insurer SBI General...
Happiest customers: RAA tops insurers in survey
25 June 2019
SA insurer RAA has the most satisfied customers, according to the latest Roy Morgan research.
Fraud trial: Dual underwriter highlighted ‘strange’ invoices
21 June 2019
Dual Australia’s national underwriter complained of unexplained and excessive legal costs in emails to the company’s claims administrator in mid 2013, the County Court of Victoria has heard...
Cyber crooks ‘demanded ransom’ from ProRisk
21 June 2019
Cyber attackers who crippled systems at Insurance House Group demanded a ransom to restore operations, it has emerged...
AIG NZ exits high-net-worth cover
21 June 2019
AIG is discontinuing its Private Client Group home, contents and yacht cover and will no longer offer high-net-worth insurance in New Zealand from the end of next month...
Adani mine secures insurance cover
20 June 2019
Indian conglomerate Adani Group has secured insurance for its controversial Carmichael coal mine project in Queensland...