Daily
‘Raise the cyber security bar,’ APRA tells insurers
05 July 2023
Early findings from an expansive cyber resilience “stocktake” in the financial services sector reveal a “need to raise the bar”, the Australian Prudential Regulation Authority said today...
Double dipping workers' comp employee slips up
05 July 2023
A Qantas employee who moonlighted as a supermarket warehouse storeman, while pocketing more than $120,000 in workers' compensation, must do 220 hours unpaid community work and repay the money...
Theft claim fails after boat secured with ‘small padlock’
05 July 2023
A boat owner who sought compensation for his stolen vehicle and trailer has lost his claims dispute after he was found to have contributed to the loss by storing the items on a nature strip without appropriate security measures...
INsight podcast: discount failings, pet products and law reform
05 July 2023
Regulatory action on pet insurance and a hefty Federal Court penalty imposed due to pricing promise failings were among topics discussed on the latest episode of the Insurance News podcast...
Suncorp ups hazard allowance as reinsurance reflects ‘adverse’ weather impact
04 July 2023
Suncorp has made key changes to its reinsurance program and increased its natural hazard allowance for this financial year in response to hardening reinsurance premiums and claims inflation pressure...
Select MD fined, disqualified after 'unconscionable’ sales tactics
04 July 2023
The Federal Court has handed down combined penalties of $13.5 million to Select AFSL and its sales partners, and a five-year disqualification from managing corporations to Director Russell Howden...
Marginal benefit: RACQ warns on cyclone pool offsets
04 July 2023
RACQ Insurance has warned that home premiums will remain high as it becomes the latest underwriter to join the Federal Government’s cyclone reinsurance pool...
Insurer strikes out on Broome cruise claim
04 July 2023
A tourist booked on a Broome cruise, cancelled the day before he was due to leave, has won a payout from his travel insurance company...
Mid-year renewals see ‘major shift’ in reinsurer appetite: Aon
30 June 2023
Property catastrophe rate pressures weakened at the mid-year reinsurance renewals, eased partly by new capacity from the cyclone reinsurance pool, Aon says...
Suncorp joins cyclone reinsurance pool
30 June 2023
Suncorp says it has today joined the Federal Government’s cyclone reinsurance pool, which was introduced last year in response to soaring premiums in northern Australia...
ASIC estimates industry cost recovery levies
30 June 2023
The Australian Securities and Investments Commission has released an estimate of levies it expects to collect from the insurance sector for regulatory work carried out during the financial year...
Too late: Audi driver loses bid for ‘new for old’ cover
30 June 2023
An Audi A3 driver has failed in a bid to have her written off car replaced “new for old” because the accident was two months outside a three-year cut off from the day the car was first registered...
ASIC issues interim stop orders on Hollard pet insurance product sales
29 June 2023
The Australian Securities and Investments Commission has issued 38 interim stop orders on sales of 67 pet insurance products issued by Hollard and its underwriting management agency PetSure.
ANZIIF names Donna Walker Awards winners
29 June 2023
The Australian and New Zealand Institute of Insurance and Finance has today announced 2023 award winners...
APRA Deputy Chair Helen Rowell retires
29 June 2023
Australian Prudential Regulation Authority Deputy Chair Helen Rowell, who has had responsibility for general insurance for the past two years, will retire from the regulator tomorrow...
Homeowner wins dispute after mould linked to storm damage
29 June 2023
A homeowner who had to stay in her mould-infested home after a storm-damage claim had been denied has won her dispute against the insurer...
Scott Leney to leave Marsh later this year
28 June 2023
Marsh Head of Risk Management for Asia and Pacific Scott Leney will leave later in the year after 37 years with the business, the broker said today...
RACQ to withdraw from Queensland CTP scheme
28 June 2023
RACQ Insurance has announced that it is withdrawing from Queensland’s compulsory third party scheme as it’s no longer viable to continue participating...
NSW announces icare board reform
28 June 2023
The NSW Government will appoint an employer and employee nominee to the icare board as part of ongoing efforts to “repair” the state insurer...
INsight podcast: the new price ain’t right
28 June 2023
The Australian Securities and Investments Commission report on insurer pricing promise failures is discussed on the latest episode of the Insurance News podcast.