Daily
Motor add-on specialist Eric Insurance enters run-off
18 October 2023
The Australian Prudential Regulation Authority has confirmed that Eric Insurance has made a commercial decision to enter run-off and will no longer write new business or renew policies, with some exceptions...
Markel recruits Axa XL exec to run Queensland business
18 October 2023
US specialty insurer Markel has appointed Stephen Rogers as Head of Queensland, reporting to Australia MD Rory Morison who is based in Melbourne...
Insurer required to partially cover burst flexihose damage
18 October 2023
A landlord who claimed for a kitchen renovation after a pipe burst will be partially covered for his losses after the Australian Financial Complaints Authority found that his insurer could not deny the entire claim...
INsight podcast: what went on at ICA, NIBA conferences
18 October 2023
The Insurance Council of Australia and National Insurance Brokers Association conferences are the main talking point on the latest Insurance News podcast...
Compliance chief criticises NIBA’s commissions disclosure code reversal
17 October 2023
Chairman of the Insurance Brokers Code Compliance Committee Oscar Shub says the independent body is “deeply concerned” by the National Insurance Brokers Association’s decision to restrict disclosure of commission requirements to retail clients in the latest code...
RAA Insurance to pay $25 million in pricing remediation
17 October 2023
RAA Insurance is to contact around 180,000 members to offer mostly small refunds in the next 12 months after a review found some may not have received premium discounts they were entitled to...
Egg ‘side hustle’ claim denial case resolved
17 October 2023
A Victorian man pursuing legal action against Suncorp brand AAMI after his house fire claim was denied for not disclosing a “side hustle” business has resolved the matter...
Claimants lose dispute after leaving items on plane
17 October 2023
A couple who lodged a claim for a Louis Vuitton purse and iPhone after leaving the items on a plane have lost a challenge to overturn their insurer’s decision to decline their claim...
Flood lessons to feed into upcoming code of practice review
13 October 2023
Experiences from the record-breaking floods will feed into the next Code of Practice review, which is due to start from the end of this year, Insurance Council of Australia CEO Andrew Hall says...
Envest completes another agency acquisition
13 October 2023
Envest Group has acquired London Australia Underwriting, a Sydney-based agency writing more than $35 million in gross written premium in professional and financial lines on behalf of Lloyd’s syndicates...
WTW names New Zealand head
13 October 2023
Global broker WTW has appointed Jill Comley-Forbes to lead its New Zealand business and she will start in January, replacing Michael Brown who will take up a new role focused on client-facing work...
Evicted tenant loses dispute over theft 'waiting period'
13 October 2023
A South Australian tenant who reportedly had $33,950 worth of items stolen from her former home will not be covered after a dispute ruling found she provided an “inconsistent version of events”...
Resilience efforts required 'across the board': Jones
12 October 2023
The Federal Government’s $1 billion Disaster Ready Fund should not be the only focus for infrastructure spending to boost resilience, Assistant Treasurer Stephen Jones has told the Insurance Council of Australia annual conference...
Vero NZ hit with record penalty over price discount failures
12 October 2023
Vero New Zealand has been penalised $NZ3.9 million for failing to deliver on promised multi-policy discounts to thousands of customers who had bought house and contents, vehicle and boat products from the Suncorp-owned insurer...
Insureds not covered for jewellery 'likely' stolen by removalists
12 October 2023
Complainants who lodged a claim for stolen jewellery will not be compensated after a dispute ruling backed their insurer's decision to decline the claim because the likely thieves had consent to enter the home...
Workers' compensation fraudster must return payments
12 October 2023
A Victorian who continued to receive injury compensation despite working full time will be required to repay more than $121,622 following a WorkSafe investigation...
IAG sees first-half cost pressures, affirms earnings guidance
11 October 2023
IAG says it’s on track to deliver full-year guidance based on results to date, despite inflationary pressures and New Zealand reinsurance impacts affecting the current half...
Abico acquires Ausure ARs
11 October 2023
NSW-based Abico Insurance Brokers has acquired Ausure authorised representatives Professional Insurance Solutions Australia and Southside General Insurance...
Complainant loses dispute over wife’s missed flight
11 October 2023
A traveller who sought cover after his wife missed her flight due to its early departure has lost his claims dispute following an Australian Financial Complaints Authority determination...
INsight podcast: Steadfast makes its US move
11 October 2023
Steadfast's move into the US market is the main topic of discussion on the latest Insurance News podcast...