Daily
‘Fear and confusion’ cloud cyber decisions
21 January 2025
About 38% of Australian and New Zealand businesses have trouble figuring out their cyber insurance needs, according to a survey by IT security specialist Arctic Wolf...
AFCA backs travel insurer in dispute over cancer death
21 January 2025
A travel policyholder who had to cut short a holiday to be with his dying sister-in-law has lost his bid for a payout...
Australian LA-style bushfire ‘inevitable’
20 January 2025
A Los Angeles-style fire impacting a major Australian city is inevitable given increasing risk factors and the nation needs to be prepared, Natural Hazards Research Australia CEO Andrew Gissing says...
More than 11,000 claims lodged after NSW, ACT storms
20 January 2025
The Insurance Council of Australia says 11,366 claims have been lodged in relation to wild weather that swept across NSW and the ACT...
Mustang prang caused by reckless speeding, not kangaroo
20 January 2025
The owner of a 2022 Ford Mustang GT who said it was damaged while avoiding a kangaroo will not be covered after the vehicle was found to have hit speeds of almost 200km/h...
Gow-Gates appoints Howard Kaye to lead key division
20 January 2025
Brokerage Gow-Gates has appointed Howard Kaye, who previously held senior roles at Aon, to lead its renamed corporate and risk management division...
‘Needs to be addressed’: Dutton demands action on insurability
17 January 2025
Coalition leader Peter Dutton has raised concerns about “uninsurable risks” on a visit to the Victorian tourist town of Halls Gap, which was hit by bushfires and associated disruption over the Christmas period...
LA fire payouts may hit $48 billion: Gallagher Re
17 January 2025
Los Angeles wildfire insured losses are expected to range from $US20-$US$30 billion ($32-$48 billion), with reinsurers picking up part of the tab, Gallagher Re says...
High-end strata ‘faces capacity challenge’
17 January 2025
Capacity problems are affecting the higher end of the strata market despite rising premium rates over the past couple of years that have improved the outlook for insurers, a Brisbane broker says...
Insurer liable for water damage as AFCA rejects seepage exclusion
17 January 2025
A claimant whose home was inundated during heavy rain will be covered for his loss after the complaints authority rejected his insurer’s “broad interpretation” of an underground seepage exclusion...
Strong winds, rain and hail trigger claims in eastern states
16 January 2025
Storms that have swept through NSW and parts of Queensland have triggered calls for emergency help and some early insurance claims as strong winds and heavy rain hit homes and businesses...
ASIC recruits CEO from fellow regulator
16 January 2025
Australian Competition and Consumer Commission CEO Scott Gregson will leave in March to join the corporate regulator...
Ombudsman rejects staged theft concerns in car claim dispute
16 January 2025
A policyholder who reported his car stolen and destroyed will receive a $50,000 agreed value payout despite an insurer’s concerns about his credibility...
Markel names first casualty claims manager
16 January 2025
Markel has appointed Scott Jordan as casualty claims manager, based in Sydney...
Climate inaction the real culprit as LA counts fire costs: Australia Institute
15 January 2025
Insurers that raised premiums are facing criticism better directed at a lack of climate change action, with the Los Angeles wildfires part of escalating global natural disaster impacts, the Australia Institute’s executive director says...
Outlook 2025 conference: speakers announced, early bird extended
15 January 2025
Hollard Australia founder Richard Enthoven and IAG CEO Nick Hawkins have joined the list of expert speakers at the upcoming Insurance News Outlook 2025 conference...
Cyber fears maintain grip on business leaders
15 January 2025
Australian businesses say data breaches, ransomware attacks and other cyber incidents are their biggest concern this year, according to an Allianz global risk survey...
AFCA backs insurer in mystery of missing gold
15 January 2025
A woman who sought cover after losing a gold bar has been denied a payout in a complaints authority hearing, but she will receive $2500 compensation for her insurer’s handling of the claim...
Broker sentenced for selling fake builders’ cover
14 January 2025
An unauthorised broker who sold fake builders’ warranty insurance to NSW construction companies has been fined $8000 and sentenced to 16 months’ imprisonment...
AIG hires former VP for regional agency role
14 January 2025
AIG says former senior VP Gany Subramaniam, who left the insurer in 2019, has rejoined as head of agency and partnership distribution for the Asia-Pacific region...