Daily
‘A little bit lazy’: Lloyd’s chief criticises climate change claims narrative
10 October 2023
Lloyd’s Chief of Markets Patrick Tiernan says assertions that climate change is primarily to blame for a rapid increase in natural catastrophe losses are wrong – and the driving force behind the trend is the growth of assets in high hazard locations...
‘It’s about fairness’: consumer group renews push for cyclone pool changes
10 October 2023
The Australian Consumers Insurance Lobby has again pushed for a review of the cyclone reinsurance pool, saying the scheme’s premium setup means northern residents are subsidising free coverage for the rest of the country...
Policyholder loses challenge over agreed value settlement for vehicle model
10 October 2023
A vehicle owner who challenged her insurer’s offered reimbursement has lost her dispute after an Australian Financial Complaints Authority determination backed the insurer’s decision...
Experts to livestream disaster innovation challenge
10 October 2023
A Disaster Challenge Final is to be held on Thursday where expert teams will pitch innovative solutions to manage floods, bushfires, storms, cyclones and other natural hazards...
US acquisition ‘biggest in terms of potential’: Steadfast CEO
06 October 2023
Steadfast CEO Robert Kelly says a US insurance network acquisition announced today is the company’s biggest in terms of potential, despite a lower price tag compared with some previous transactions...
‘No one to sue’: motorist who swerved to avoid deer fails to extend injury payments
06 October 2023
NSW's Personal Injury Commission tribunal has upheld an insurer’s decision to stop statutory benefit payments to a motorist who sustained catastrophic injuries after he swerved to avoid two deer and ended up colliding with a vehicle...
Melbourne Water to adopt 15 flood review recommendations
06 October 2023
Melbourne Water will implement 15 recommendations made by a review panel after an inquiry into flooding of the Maribyrnong River a year ago...
Insurer not required to cover 'unattended' jet ski stolen from car park
06 October 2023
A complainant whose jet ski and trailer were stolen while stored at a shopping centre car park will not be covered after a dispute ruling found he failed to take “reasonable precautions” to prevent the theft...
IAG appoints UK executive William McDonnell as CFO
05 October 2023
IAG has appointed William McDonnell, a London-based senior leader in finance, risk and climate action, as CFO following a search to replace Michelle McPherson, who is retiring from the role...
Nearby not close enough: fitness centre loses BI dispute
05 October 2023
A Melbourne fitness centre has lost a dispute over pandemic business interruption cover after unsuccessfully pointing to a Federal Court test case ruling to argue that an outbreak in the local community was sufficient to meet policy requirements...
Complainant wins lost luggage dispute over bag left on plane
05 October 2023
A traveller who lodged a claim for lost luggage after leaving a bag on a plane has won his dispute after the Australian Financial Complaints Authority ruled that his insurer could not apply an exclusion...
Lithium batteries causing home fire claims: AMI
05 October 2023
Lithium-ion batteries and their charging systems are resulting in at least one home insurance claim for fire damage per month, AMI data shows...
Cost of living pressures drive householders to shop around
04 October 2023
Fewer people are automatically renewing their household insurance policies and an increasing number are approaching other companies and considering switching compared to two years ago, Roy Morgan data shows...
ASIC appeals funeral insurer court decision
04 October 2023
The Australian Securities and Investments Commission has appealed part of a Federal Court decision handed down last month in relation to the regulator’s case against ACBF Funeral Plans...
Flood plus storm equals flood: insured loses claim dispute
04 October 2023
A NSW property owner whose home was inundated by a combination of stormwater and floodwater will not be covered for her losses after a dispute ruling panel backed her insurer’s decision to decline the claim...
INsight podcast: good levees, bad levies
04 October 2023
The return of the European delegation of insurance leaders and Assistant Treasurer Stephen Jones is the first discussion point on the latest Insurance News podcast...
Marsh McLennan appoints AIG’s Ferrier as New Zealand head
03 October 2023
AIG executive Toni Ferrier has been appointed Marsh McLennan New Zealand CEO and Marsh New Zealand President, effective from early next year...
FAR start date for insurers finalised, regulators take charge
03 October 2023
The Financial Accountability Regime start date for the insurance industry has been finalised after legislation for the Hayne royal commission recommendation received Royal Assent last month...
FM Global opens third Australian office
03 October 2023
Commercial property insurer FM Global has opened an office in Perth to service clients and broker partners in WA...
'No clarity': claimant wins dispute over property condition
03 October 2023
A Victorian homeowner who claimed for water damage after a pipe burst has won a dispute after his insurer alleged that he misrepresented the property’s condition...