Flexi-hoses a ‘ticking time bomb’, Suncorp study shows
29 April 2025
Burst flexi-hoses are responsible for one in 10 water damage claims lodged with Suncorp and cost an average of more than $27,500 per incident, the insurer says...
Daily
Lawyers flag $34 million add-on cover settlement
29 April 2025
A car dealerships add-on insurance class action involving Suncorp will be settled for $34 million if a court hearing in June approves the proposed agreement...
AFCA backs insurer’s close call in dispute over ex’s death
29 April 2025
A traveller who returned early from a trip when her ex-husband died will not have her costs covered because the man was not considered a “close relative”...
ANZIIF’s in-person annual meeting ‘a chance to reconnect’
29 April 2025
The Australian and New Zealand Institute of Insurance and Finance will hold an in-person annual general meeting for the first time since 2019...
ICA warns on ‘zombie’ developments as land use reform stalls
24 April 2025
State and local governments must push through land use reforms and stop reapproving decades-old “zombie” developments in flood zones, the Insurance Council of Australia says...
‘Demographic revolution’ to reshape consumer needs
24 April 2025
An ageing population will transform general insurance, with implications for motor, property and liability covers, a report by consultancy Capgemini says...
Mother wins compensation for vulnerability oversight
24 April 2025
The industry ombudsman has told Suncorp to pay a motor policyholder $2500 compensation after it failed to identify her as a vulnerable customer and caused stress through its communications...
INsight podcast: Finity experts discuss our market outlook report
24 April 2025
A special feature podcast takes a deep dive into the Finity/Insurance News INFORM market outlook report, which aims to help insurance professionals adjust to a rapidly softening landscape...
Cyclone Alfred loss hits $2.5 billion: Perils
23 April 2025
Catastrophe data specialist Perils says insured losses from Cyclone Alfred have passed $2.56 billion – making it the largest cyclone loss event since Tracy hit Darwin in 1974...
AI errors could lead to ‘next silent cyber’
23 April 2025
Underwriters should be on alert for unwitting exposure to claims stemming from inaccuracies caused by artificial intelligence, an insurance lawyer says...
Insurers ‘must act’ on acceptance of standard authority forms
23 April 2025
The General Insurance Code Governance Committee has told insurers to take action over a reported reluctance to accept consumer advocates’ standard authority forms...
Altered states: authority backs SA insurer in car storage dispute
23 April 2025
A motor policyholder who stated her son’s car was stored in South Australia has been denied a payout after her insurer argued it would not have covered a vehicle that was, in fact, kept in Victoria...
WTW regional broking head takes on construction role
22 April 2025
WTW has appointed Trent Williams to an additional role as head of broking for global construction...
Defects cover push ‘could add $35,000 to home price’
22 April 2025
If latent defects insurance is made mandatory in the ACT, it will increase the cost of building new homes by 3%-5%, the Property Council of Australia warns...
Fair weather brightens outlook for Tower
22 April 2025
Tower has raised its profit guidance for the year to September due to unusually favourable weather, lower inflation and fewer total loss house claims...
Policyholder wins storm payout after pre-existing damage row
22 April 2025
A WA homeowner’s storm damage claim must be accepted after the complaints authority determined her insurer cannot rely on a pre-existing damage exclusion...
Cybersecurity sector ‘flying blind’ without strong national strategy
17 April 2025
Co-ordinated leadership and action is needed to steer Australia’s fast-growing cybersecurity industry, according to a new report...
Errol’s landward U-turn triggers cyclone pool declaration
17 April 2025
The Australian Reinsurance Pool Corporation has declared Cyclone Errol a covered event after the system intensified to category 4 strength and reversed track to head towards the WA coastline...
Telematics app reveals scale of dangerous phone use
17 April 2025
Australians use their phones during one in every seven car trips, putting road users and pedestrians at risk, IAG brand ROLLiN’ says after evaluating more than 18 million kilometres of customer driving data...
AFCA finds holes in insurer’s crack claim denial
17 April 2025
Homeowners have successfully challenged their insurer’s denial of a claim lodged after large cracks appeared in walls and ceilings when a broken pipe leaked under the property...