Daily
Steadfast first-half earnings rise on premium rates, volume
28 February 2024
Steadfast’s underlying net profit after tax rose 17.5% to $106 million in the first half, driven by price and volume growth in broking and underwriting agencies, and as the group continued its acquisition activity...
Butcher wins battle over blackout losses
28 February 2024
A butcher that sought cover for loss of stock and profits after its store lost power has won a dispute over its insurer’s application of a flood exclusion...
Judge shuts down loophole around injured motorcyclist’s drug charge
28 February 2024
A tribunal ruling has been overturned after it stated a motorcyclist was covered for crash injuries despite being found guilty of having illicit drugs in his system while driving...
INsight podcast: cracking the code
28 February 2024
Scrutiny of the insurers' code of practice as a result of the Federal Government's flood inquiry is the main topic of discussion on the latest Insurance News podcast...
‘Unacceptable position’: insurance ranks second for gender pay gap
27 February 2024
Financial services has a gender pay gap of 26% in Australia, topped only by a gap of 32% in construction, data published today shows...
Lawyers seek lion’s share of $650k fall settlement
27 February 2024
A woman who sued Coles after slipping on a supermarket floor stood to receive just $34,800 of a $650,000 settlement after two law firms she engaged staked claims to more than $490,000...
Johns Lyng lifts outlook as insurance work builds confidence
27 February 2024
Johns Lyng Group expects its core insurance building and restoration services business to perform well this year after a strong first half, and has raised its earnings guidance...
Claimant wins stolen watch payout despite insurer’s doubts
27 February 2024
A woman who claimed for a $30,500 watch stolen from her sister-in-law’s car has had her insurer’s decision to decline a payout overturned after a dispute ruling found the circumstances of the loss were credible...
Judge orders QBE to send corrective notice over class action
23 February 2024
The Federal Court has ordered QBE to send a corrective notice to brokers about a proposed business interruption class action, after a company communication raised concerns that it was telling intermediaries they did not have to follow a court request to advise clients about registration...
Flood inquiry: code committee warns sanctions are coming
23 February 2024
The General Insurance Code Governance Committee says insurers should expect financial sanctions in future, with issues that have limited its use of enhanced enforcement powers now resolved...
‘Shifting the dial’: NSW disaster plan targets insurance costs
23 February 2024
NSW today released its State Disaster Mitigation Plan, setting out actions to strengthen resilience against natural catastrophes...
Traveller loses dispute after covid sank cruise company
23 February 2024
A claimant will not be paid after losing a proximate cause dispute over the collapse of a cruise company that was affected by the covid pandemic...
Industry needs to ask ‘hard questions’ on complaints: AFCA
22 February 2024
The Australian Financial Complaints Authority has told the parliamentary flood inquiry that insurers have “a lot of room for improvement” in complaints handling, and more disputes should be resolved earlier...
Court throws out long-running workers’ comp appeal
22 February 2024
A family’s appeal for compensation after a courier died of a heart attack while making deliveries has been rejected...
‘Intense impacts’ loom for WA with return of Cyclone Lincoln
22 February 2024
Ex-Tropical Cyclone Lincoln is expected to reform overnight and reach category 2 intensity before crossing back over the WA coast on Saturday south of Exmouth, the Bureau of Meteorology says...
Fire-hit studio owners win payout increase from Hollard
22 February 2024
The owners of an artists’ studio that was destroyed by fire have won an increase to their payout after a dispute panel found their insurer did not provide a “like for like” cash settlement...
Flood inquiry: insurers challenged over vulnerable customer identification
21 February 2024
QBE and Hollard have acknowledged their systems for flagging vulnerable customers were under pressure after the disastrous 2022 floods, but told a parliamentary inquiry today that improvements are being implemented...
PSC earnings grow despite ‘headwinds’
21 February 2024
PSC Insurance Group has posted stronger first-half earnings despite challenges in parts of its business, including a revenue drop for Paragon International, the Lloyd’s broker it acquired in 2019...
Consumer lobby presses regulators for action on strata
21 February 2024
The Australian Consumers Insurance Lobby has asked regulators to investigate strata manager practices that it believes constitute misconduct...
INsight podcast: cash settlements under scrutiny
21 February 2024
Possible reforms to heavily scrutinised cash settlements are discussed on the latest episode of the Insurance News podcast...