Daily
Tough rules, cuts, penalties: Choice’s royal commission list
26 October 2018
Sales of add-on insurance at car dealerships and other “toxic” products and practices should be banned outright, Choice says today in a submission to the Hayne royal commission...
Farewell AMP, an insurer no more
26 October 2018
Once the giant of insurance in Australia and New Zealand, AMP has exited the sector altogether with the sale of its life business to international insurer Resolution Life for $3.3 billion...
TV program’s criticism absurd, says ICA
25 October 2018
Insurers today rejected suggestions the industry has focussed on maintenance issues and wear and tear to avoid paying claims for homes damaged in Cyclone Debbie in March last year...
First-home buyers boost LMI market
25 October 2018
QBE’s annual housing outlook paints a mixed picture, as Sydney and Melbourne see a correction but other parts of the country head into strong growth...
Drought crisis: ICA wants Canberra to support farm insurance plan
25 October 2018
Stamp duties on farm insurance products must go, the ICA said today as it outlined a five-point plan to spur the take-up of agricultural income protection covers...
Industry ‘tarnished’ by royal commission
24 October 2018
The reputation of Australia’s property and casualty (P&C) insurers has been “tarnished” by the Hayne royal commission, says S&P Global Ratings...
Cat losses: New Zealand is risky business
24 October 2018
New Zealand is the second-most exposed nation to natural catastrophe losses, according to Lloyd’s in-depth underinsurance study of 43 economies...
Wind-Jeannie arrives in time for cyclones
24 October 2018
Swiss-based catastrophe data company Perils has launched an Australian version of its real-time windstorm forecasting tool, which predicts property losses for insurers...
Premium role: Ex-Zurich chief to run funder
23 October 2018
Former Zurich CEO Raj Nanra has been appointed CEO at premium funder Macquarie Pacific Funding...
Senators condemn ‘reprehensible’ D&O cover
23 October 2018
Insurance policies that allow corporations and directors to be covered for workplace health and safety breaches are “utterly reprehensible” and should be outlawed, a Senate committee report says...
Crimestopper: Insurers invest in car theft crackdown
23 October 2018
Insurers have committed to funding the National Motor Vehicle Theft Reduction Council for another three years...
Cladding crisis ‘solution’ isn’t as easy as it seems
19 October 2018
A Victorian scheme to remove dangerous fire-prone cladding that covers hundreds of apartment buildings won’t have an immediate impact on strata premiums, according to a strata insurance expert...
ASIC to wield ‘every power’ against cheats and liars
19 October 2018
ASIC Chairman James Shipton warns businesses that fail to co-operate with the regulator face a tougher response under a crackdown on misbehaviour...
Costly and dangerous: industry slams product rules
19 October 2018
The general insurance industry has expressed “deep concern” over new legislation designed to ensure the right financial products are sold to the right people...
Bushfires: let’s cut the ‘urban fringe’
18 October 2018
Tougher planning regulations to restrict development on the “urban fringe” of cities is the best way to reduce bushfire losses...
Strong quarter sees Steadfast boost earnings forecast
18 October 2018
Steadfast raised its earnings guidance range today after its broker network and underwriting agencies made a strong start to the financial year...
AUB ousts senior broker over misconduct claims
18 October 2018
Austbrokers Canberra MD Greg Johnston has been “removed” by parent company AUB over allegations of financial misconduct...
Injury v liability as driverless cars roll in
17 October 2018
With driverless cars already being tested, how will insurers tackle cover for personal injury? That’s the key question raised by a discussion paper issued today by the National Transport Commission...
Hayne’s regulatory impact ‘will sweep up insurers’
17 October 2018
General insurers should brace for a wave of regulatory repercussions stemming from the Hayne royal commission, even though the new rules will have been triggered by misconduct elsewhere, Finity says…
Shaken up: Here’s Australia’s most quake-prone places
17 October 2018
The areas of Australia most likely to suffer a serious earthquake were laid bare today in the first update to the National Seismic Hazard Assessment for six years...