11 December 2020
The Australian Securities and Investments Commission has released its regulatory guide on the complex product design and distribution obligations following further consultations this year...
11 December 2020
Two travel insurance claims for trips interrupted by the COVID-19 pandemic have been upheld during disputes heard by the Australian Financial Complaints Authority...
10 December 2020
Australian Small Business and Family Enterprise Ombudsman Kate Carnell has warned politicising the findings of her insurance inquiry risks hindering resolution of a market failure problem that is devastating firms...
10 December 2020
Australian Reinsurance Pool Corporation CEO Christopher Wallace has flagged that terrorism pools could be well placed to extend their expertise to pandemics given the events have characteristics in common...
10 December 2020
The Insurance Council of Australia has welcomed today’s passage of the Financial Sector Reform Bill 2020 through Parliament...
10 December 2020
A man who lodged a claim for the theft of his car while it was out on a test drive with an unaccompanied prospective buyer has lost his dispute with Suncorp...
09 December 2020
The Australian Reinsurance Pool Corporation’s role should be extended to natural disasters and broker conflicted remuneration should be banned as part of measures to address an insurance “national crisis”, a small business ombudsman inquiry has recommended...
09 December 2020
Next year could be just as tough for the general insurance industry, which has seen profits crash by almost 50% to a near 10-year low of $2.3 billion, KPMG says in a new report today...
09 December 2020
A woman whose valuable art collection was destroyed when a bushfire changed direction and unexpectedly burnt down a property she had taken the paintings to for safekeeping has won a claim dispute...
09 December 2020
The Australian Competition and Consumer Commission has completed its third and final major report on insurance in northern Australia – but at this stage we can only speculate as to what it will recommend...
08 December 2020
The Insurance Council of Australia will seek leave from the High Court to appeal a decision that found business interruption exclusions citing the Quarantine Act are not valid in rejecting COVID-19 related claims...
08 December 2020
Insurers have compounded the hardening directors’ and officers’ rate environment by engaging in “opportunistic pricing” and offering little flexibility, leaving companies in a bind as premiums show no signs of easing in the foreseeable future, says Marsh...
08 December 2020
Assetinsure CEO Gregor Pfitzer will resign at the end of the month after 17 years with the insurer, which included a difficult period due to the financial troubles of former owner CBL...
08 December 2020
Australian Broker Network was found to have breached its duty of care when it reduced the sum insured of a client’s business truck from $50,000 to $20,000, and must compensate the client who could not claim fully for the vehicle’s repair bill of $26,501.45...
04 December 2020
Australia’s financial regulation agencies say they are keeping a close eye on efforts to test the validity of business interruption insurance pandemic exclusions and have called on the industry to move as quickly as possible to resolve uncertainties...
04 December 2020
While La Nina this summer could lead to significant claims events, they should be “manageable” for general insurers, according to a note from advisory firm Bell Potter...
04 December 2020
Structural changes will persist post-COVID, requiring that insurers adjust their underwriting accordingly and scrutinise risk models, Australian Prudential Regulation Authority Chairman Wayne Byres says...
04 December 2020
A drunk driver who crashed into a house and asked for “special consideration” to have her unsuccessful claim for third-party property damage overturned, citing her financial hardship, has lost her dispute against the insurer...
03 December 2020
The Australian Financial Complaints Authority has come in for rare criticism after it emerged that the dispute-handling body most likely did not act impartially and fairly in handling two cases that were lodged against DH Flinders, a specialist funds management advisory business...
03 December 2020
AUB Group has entered into a partnership with accounting and tax services network group Kelly+Partners to provide a wider range of advice and assistance for clients and members...