Daily
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...
Suncorp looks to future as ‘pureplay’ insurance company
20 February 2024
Suncorp has welcomed an Australian Competition Tribunal decision that opens the way for it to sell its banking division and become a company solely focused on insurance...
Broking, agencies drive AUB first-half earnings
20 February 2024
AUB Group has raised its 2023-24 earnings guidance after a strong first half, supported by its core broking and agencies businesses...
Gallagher buys mining broker
20 February 2024
Gallagher Australia has completed its first acquisition of the year, securing a merger deal with Perth mining specialist Ansin Insurance Brokers...
Insurer denies claim for boarding home fire
20 February 2024
A homeowner who claimed for fire damage has lost an insurance dispute after a panel found he breached his policy terms by using the property as a boarding house...
QBE result soars on investments, rising premiums
16 February 2024
QBE’s full-year earnings surged to $US1.36 billion ($2.1 billion) after investment income more than doubled and strong premium growth continued...
IAG first-half earnings up on price increases, as home pressures persist
16 February 2024
IAG’s insurance profit grew strongly from July to December, rising 75.4% or $264 million to $614 million, the insurer announced this morning...
Cyclone closes on NT coast
16 February 2024
Tropical Cyclone Lincoln is expected to cross the NT coast as a category 1 system later today, after a tropical low developed in the Gulf of Carpentaria...
Australian risk expert wins RIMS’ top honour
16 February 2024
Sydney-based Eamonn Cunningham has won this year’s RIMS Harry & Dorothy Goodell Award, the first time it has been given to a non-American...