Daily
Catastrophes send insurance profits plummeting
11 December 2019
Insurance industry profits fell 12% to $4.4 billion last financial year as catastrophes such as the Sydney hailstorms and the Townsville floods increased natural hazard costs, a KPMG annual review shows...
Tower starts search as CEO decides to return to Australia
10 December 2019
Tower CEO Richard Harding will leave the Auckland-based insurer and return to Australia toward the end of next year after deciding not to extend his contract past its current term...
Building Ministers’ Forum sees fixing PI crisis as a priority
10 December 2019
Resolving the months-long professional indemnity insurance crisis in the construction sector is set to dominate the agenda at the upcoming Building Ministers’ Forum on Friday in Canberra...
Cyber breaches: companies urged to go above and beyond
10 December 2019
Companies should look beyond compulsory data breach reporting requirements to help mitigate potential reputational damage from cyber attacks...
Blue Zebra eyes overseas expansion
06 December 2019
Underwriting agency Blue Zebra is considering expanding overseas following the rapid growth of its Australian operation...
NSW bushfires: 683 homes gone, conditions heading from bad to worse
06 December 2019
At least 683 residential properties in NSW have been confirmed destroyed by the bushfires still ravaging the state, with experts warning today that conditions will sharply deteriorate over the next few days...
Bad news: D&O insurers brace for even more pain
06 December 2019
The unprofitable directors’ and officers’ market will continue to struggle next year, according to Allianz Global Corporate & Specialty...
High Court throws class action curveball
05 December 2019
A High Court decision on class action funding is expected to slow the launch of some litigation by taking away a fast-tracking option, but the level of activity is likely to remain high...
Insurer must pay $40,000 after unjustified fraud accusation
05 December 2019
The Australian Financial Complaints Authority has ordered an insurer to pay a builder more than $40,000 after it unfairly declined a vehicle theft claim...
NZ sets out insurance law overhaul plans
05 December 2019
The New Zealand Government has agreed on key changes to overhaul insurance laws, but will seek more input on whether unfair contract term rules in draft legislation should be brought into line with proposed changes in Australia...
New marine underwriter promises 'innovative solutions'
04 December 2019
Marine-focused underwriting agency RedSky Insurance has started commercial operations this month, led by a team of specialists with more than 96 years of combined industry experience...
Attack of the clones: number plate crime escalates
04 December 2019
Theft and cloning of vehicle number plates is an increasing concern with “far-reaching impact”, the National Motor Vehicle Theft Reduction Council warns...
Insurers welcome ‘world first’ mobile phone detection cameras
04 December 2019
The insurance industry has applauded the use of high definition cameras in NSW to catch drivers illegally using their mobile phones while on the move...
Ombudsman slams 'unjust' workers' comp claims handling
03 December 2019
The Victorian Government will review its workers’ compensation claims management model after an ombudsman report criticising handling of complex cases by state-owned WorkSafe and its agents...
Wivenhoe Dam ruling highlights public insurance gaps
03 December 2019
Governments should reconsider their existing insurance arrangements in the wake of last week’s Wivenhoe class action verdict in the NSW Supreme Court, according to law firm Clyde & Co...
AFCA sides with insurer in dispute over premium rises
03 December 2019
A PetSure policyholder who filed a complaint that the insurer “unreasonably increased” his premiums by more than 266% over a four-year period has lost his case...
Wivenhoe class action: insurers, flood victims win legal fight
29 November 2019
The NSW Supreme Court today ruled that negligence by the operators of the Wivenhoe and Somerset dams exacerbated the 2011 Brisbane floods...
Claims handling in sights as draft bill released
29 November 2019
Treasury has opened consultations on draft legislation that will make insurance claims handling subject to oversight by the Australian Securities and Investments Commission...
Hot, dry summer set to worsen drought, fire risk
29 November 2019
Summer is likely to start off hot and dry, with much of eastern Australia gripped by the same climate influences that gave us a warmer and drier than average spring, the Bureau of Meteorology predicts...
Hollard takes over from AIG on Steadfast Direct
28 November 2019
Hollard will replace AIG on the Steadfast Direct personal lines panel from the middle of next month, following arrangements announced to brokers today...