Daily
NSW to appoint insurance monitor in ESL reforms
17 November 2023
The NSW Government says it will appoint an insurance monitor to ensure companies don’t keep premiums at elevated levels once the Emergency Services Levy is removed under proposed reforms...
Suncorp warns blocked bank sale would hit innovation, tech upgrades
17 November 2023
Suncorp says insurance product innovation, a multi-year technology strategy and benefits that could ease pricing pressures could be undermined if the proposed sale of its banking division to ANZ is blocked by the regulators...
Consumer group backs flood reinsurance pool investigation
17 November 2023
The government should examine creation of a federal flood reinsurance pool to tackle unique complexities associated with the peril, the Australian Consumers Insurance Lobby says...
Insurer not required to cover 'reckless and unsafe' driver
17 November 2023
A driver who crashed his car in a single-vehicle accident has lost his appeal to overturn his insurer’s claim denial after it cited unroadworthy vehicle and reckless driving exclusions...
Suncorp-backed report makes case for ‘assisted relocations’
16 November 2023
Suncorp has released a discussion paper on “assisted relocations” of communities in catastrophe-prone areas, in collaboration with Natural Hazards Research Australia...
Mark Senkevics departs Swiss Re
16 November 2023
Swiss Re’s former Australia and New Zealand operations head Mark Senkevics has departed the reinsurer and is now on the advisory board at insurtech RETJA...
Insurer liable for bank’s misleading explanation of policy to elderly traveller
16 November 2023
An elderly man who lodged a claim for severe injuries suffered by his wife during a vacation has won his dispute against his insurer after the Australian Financial Complaints Authority found he had been misled into believing he was covered...
INsight podcast: never-ending disclosure debate
16 November 2023
The long-running saga of the broker code and section 6.1 on commissions disclosure is the main focus of the latest Insurance News podcast...
Macquarie makes ‘substantial’ investment in Envest
15 November 2023
Ardonagh-owned Envest Group says it has secured a “substantial” investment from Macquarie Group to further grow its presence in the Australian insurance distribution sector...
AEI reveals succession plan with new CEO
15 November 2023
AEI Insurance Broking Group has promoted Noel Kelly to the role of MD and CEO, effective from next year...
Canopius Asia Pacific head Mark Newman appointed UK CEO
15 November 2023
Canopius Group Asia Pacific CEO Mark Newman has been appointed to lead the company’s UK business, effective from the start of next year...
If a tree falls, is it impact damage or storm?
15 November 2023
Homeowners who sought cover after a falling tree damaged their boat and nearby structure have been awarded $205,449 for their losses following a decision by an Australian Financial Complaints Authority panel...
Government moves forward on commission, advice reforms
14 November 2023
Treasury has released draft legislation to implement proposed advice changes as recommended by the Quality of Advice Review, including requiring general insurance brokers to obtain “informed” consent in writing from retail clients before accepting a commission...
Helen Rowell to chair general insurance code of practice review
14 November 2023
A General Insurance Code of Practice independent review starting today will be chaired by former Australian Prudential Regulation Authority Deputy Chair Helen Rowell...
Tower discount remediation costs rise, CEO apologises
14 November 2023
New Zealand insurer Tower says costs associated with refunds to customers who didn’t receive correct multi-policy discounts are now expected to reach about $NZ11.2 million, excluding goods and services tax...
Revving up for motor claims webinar
14 November 2023
A free webinar focused on the impact of technology challenges on motor insurance claims will take place at noon on Thursday...
‘50 years of failure’: industry accused of not matching climate rhetoric with action
10 November 2023
Major insurers are still underwriting fossil fuel projects and while several have moved away from coal, the industry’s support for oil and gas production facilities is undermining the green transition, a global climate activist group says...
Flood resilience funding for NSW’s central west jumps to $100 million
10 November 2023
The Federal and NSW governments will work together in coming months on designing a new housing program for the central west region after jointly committing $100 million to improving resilience to natural disasters...
AMA Group begins board renewal, makes progress on CEO recruitment
10 November 2023
Collision repairer AMA Group has appointed Kim Stewart-Smith as a director in a “first step in board renewal” and says it’s making progress on selecting a new CEO to replace outgoing executive Carl Bizon...
Insurer must cover stolen Porsche after exclusion fails
10 November 2023
An insured who sought cover for a stolen vehicle has won their claims dispute after a ruling found the insurer’s application of a policy exclusion was not valid...