Daily
Strata manager contract clauses ‘disadvantage consumers’
15 November 2024
Strata management contracts specifying insurance commission levels over the life of the agreement are disadvantaging property owners, the Australian Consumers Insurance Lobby says...
Bear-faced cheat? Grizzly scenes as four held over ‘animal attacks’
15 November 2024
Four people have been arrested after US investigators found a person in a bear costume faked animal damage to three luxury cars in an insurance fraud...
ASIC keeps spotlight on insurers after pricing failures
15 November 2024
The corporate regulator’s enforcement priorities for next year include a focus on insurer dealings with customers, following action already taken on pricing promise failures...
Theft claim denied in full after fraudulent bid to inflate payout
15 November 2024
A theft victim has had his claim scrubbed out – including the legitimate part of it worth almost $35,000 – after he created fake invoices to inflate its value...
Personal lines help industry profits ‘maintain heights’
14 November 2024
The industry performed well for the second year running as householders and private motor lines lifted results, Finity says in an annual report...
‘Heartbreaking’: stressed families cutting cover to make ends meet
14 November 2024
More than two-thirds of parents worry about higher insurance premiums caused by increasingly intense and frequent “unnatural disasters”, and many families have gone without cover while tightening budgets in the past year, a study has found...
Drug-producing tenant ‘didn’t intend to damage property’
14 November 2024
A farm policyholder will be covered for damage caused by a tenant who used the property to produce and store drugs, after an ombudsman overruled the insurer’s claim denial...
Dangerous rides, inflatables trigger WorkSafe warning
14 November 2024
WorkSafe Victoria has found scores of safety issues affecting community event amusements such as jumping castles and inflatable rides during its inspections this year...
ASIC begins court action over alleged claims delays
13 November 2024
The corporate regulator has launched legal action against United Super over allegations the Cbus superannuation fund trustee failed to “efficiently, honestly and fairly” handle thousands of death and disability claims...
Actuaries call for SME cybersecurity certificate system
13 November 2024
Standardised certification should be introduced to help small businesses demonstrate their cyber preparedness, the Actuaries Institute says in a new paper...
Johns Lyng confident in strategy despite share slide
13 November 2024
Building repairs company Johns Lyng Group has defended its growth strategy after the release of its annual results in August triggered a share price slump...
INsight podcast: what's on the Radar?
13 November 2024
Taylor Fry's Radar report – which assesses each line of insurance in detail – is the main topic of discussion on the latest Insurance News podcast...
Ombudsman flags rise in systemic flaws
12 November 2024
The Australian Financial Complaints Authority reported 17 general insurance systemic issues to regulators in the second half of last financial year, in a jump from previous periods...
Expert-led cyber seminar can be live-streamed
12 November 2024
Insurance News’ upcoming half-day cyber seminar will be live-streamed, as an additional option for professionals unable to travel to Sydney...
Insurer entitled to hike home premium over updated flood risk
12 November 2024
A Brisbane homeowner whose annual premium increased by more than $4500, primarily due to his flood cover, has lost a bid to have his insurer’s decision reviewed...
NZ risk profile muddies waters on flood pool, industry says
12 November 2024
The Insurance Council of New Zealand says any government-backed flood pool would need to factor in the nation’s unique exposure to natural disaster risks...
AFCA releases proposed guidance on misrepresentations
08 November 2024
The Australian Financial Complaints Authority has opened consultation on a new approach document about the duty to take reasonable care not to make misrepresentations...
Insurtech funding ‘vibrant’ as investments climb
08 November 2024
Global insurtech funding totalled $US1.38 billion ($2.08 billion) in the third quarter, up from $US1.1 billion ($1.66 billion) a year earlier to its highest level since the first quarter of last year...
Stolen or lost? Panel finds no difference as claimant wins payout
08 November 2024
A woman who said about $200,000 worth of items were stolen from her home will be covered for her losses despite her insurer’s scepticism about the theft claim...
Time running out to sign up for claims webinar
08 November 2024
A free webinar will be held on Wednesday exploring the issue of collaboration in claims management...