18 January 2021
Allianz Australia has introduced a new operating model to sharpen its focus on three key customer segments and announced the departure of Chief GM Broker and Agency David Hosking amid a number of changes...
18 January 2021
Queensland’s Cyclone Kimi has strengthened to a Category 2 and shifted south, the Bureau of Meteorology has warned...
18 December 2020
QBE expects to report a net loss of about $US1.5 billion for this year, with the result hit by COVID-19, catastrophes and a writedown of North American goodwill...
18 December 2020
Brokers with at least five years’ experience are among insurance industry personnel expected to be in high demand as business activity increases next year, recruiting firm Hays says...
18 December 2020
A general insurance brokerage breached its duties when the business did not recommend a self-employed client seek advice from a life insurance broker about his coverage needs, according to a dispute ruling...
18 December 2020
Agricultural underwriting agency 360 Farm & Regional says QBE will be its sole capacity provider for all new and renewal business starting on January 1 next year...
17 December 2020
The High Court should hear an appeal over business interruption exclusions due to the financial repercussions for insurers and the legal issues around contract language and correction of mistakes, documents filed by the industry argue...
17 December 2020
Australian general insurers are facing a “perfect storm” of challenges that has put the industry on an “unsustainable trajectory”, a new report from Oliver Wyman warns...
17 December 2020
The Australian Securities and Investments Commission has set out a three-point action plan for insurers to consider after its research found gaps in the handling of claims for the Canberra hailstorm catastrophe in January and last year’s Townsville flood disaster...
17 December 2020
A study commissioned by the Financial Rights Legal Centre has outlined what it sees as the risks and opportunities from the extension of the Consumer Data Right to the insurance industry...
16 December 2020
Property market conditions will continue to be challenging given ongoing COVID-19 related losses, potential natural catastrophe impacts and expected rising reinsurance rates in the January renewals, Marsh warns...
16 December 2020
Treasury has released for consultation an exposure draft regulation paper outlining the prescribed circumstances in which a person is excluded from new laws requiring a licence to perform claims handling services...
16 December 2020
An RACV motor insurance policyholder who disputed a 26% rise in premium for his Porsche Cayenne sport utility vehicle has won his case before the Australian Financial Complaints Authority...
16 December 2020
Insurance affordability and the SME ombudsman’s wide-ranging report are the key focus of our latest INsight podcast...
15 December 2020
CGU has confirmed that it will leave the Victorian workers’ compensation scheme after 30 years, with one brokerage warning that the “shock” exit could cause significant disruption to employers and injured workers...
15 December 2020
Three key icare agencies, including the main NSW workers’ compensation scheme, are underfunded to meet expected future payments and action on premiums or costs should be considered to resolve the issue, the state Audit Office says...
15 December 2020
Businesses and brokers are being hit by a hard market which is pricing some clients out of insurance altogether, and has been described as a “national crisis”. insuranceNEWS.com.au today publishes a special feature podcast, examining the causes, effects and possible solutions...
15 December 2020
A final report on the NSW Home Building Compensation Fund has stuck to its initial recommendation of ending the mandatory use of brokers, despite objections from stakeholders who say the proposed change could backfire...
11 December 2020
Alpine resort operators have criticised insurers for imposing huge rate increases or abandoning the sector altogether, as underwriters react to last year’s Black Summer of devastating bushfires...
11 December 2020
An independent report released today has highlighted concerns that some brokers who sell add-on insurance products are employing sales practices that don’t always prioritise their clients’ needs, potentially harming the broking industry’s reputation...