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...
03 December 2020
The Reserve Bank of New Zealand announced today it has issued “formal directions” to Pacific International Insurance after the insurer repeatedly failed to comply with its reporting and disclosure obligations...
03 December 2020
Qantas Home Insurance, underwritten by Auto & General, was today added to the airline’s stable of cover options, which spans health, travel, life and car insurance...
02 December 2020
Risk managers will need to ensure their businesses step up mitigation action to ease the impact of a hard insurance market, which still has some way to run due to a number of drivers, FM Global says...
02 December 2020
Car insurer Koba is on track to introduce its kilometre-based motor insurance in Australia next year after successfully completing a first funding round...
02 December 2020
The latest episode of the Insurance News podcast examines the latest APRA statistics and what they mean for the industry and its customers...
02 December 2020
A man who woke up in hospital and had no recollection of how he got there after a night out during a vacation in Bali has won a claim dispute for medical expenses...
01 December 2020
The Federal Court is considering a business interruption exclusion in a Vero policy that a Melbourne cafe and restaurant argues does not prevent cover for losses triggered by COVID-19 restrictions...
01 December 2020
A jet skier who was involved in a collision and had his insurance claim for watercraft damage denied because his blood alcohol content reading exceeded the legal limit has won his complaint against the insurer...