Daily
Resilience efforts required 'across the board': Jones
12 October 2023
The Federal Government’s $1 billion Disaster Ready Fund should not be the only focus for infrastructure spending to boost resilience, Assistant Treasurer Stephen Jones has told the Insurance Council of Australia annual conference...
Vero NZ hit with record penalty over price discount failures
12 October 2023
Vero New Zealand has been penalised $NZ3.9 million for failing to deliver on promised multi-policy discounts to thousands of customers who had bought house and contents, vehicle and boat products from the Suncorp-owned insurer...
Insureds not covered for jewellery 'likely' stolen by removalists
12 October 2023
Complainants who lodged a claim for stolen jewellery will not be compensated after a dispute ruling backed their insurer's decision to decline the claim because the likely thieves had consent to enter the home...
Workers' compensation fraudster must return payments
12 October 2023
A Victorian who continued to receive injury compensation despite working full time will be required to repay more than $121,622 following a WorkSafe investigation...
IAG sees first-half cost pressures, affirms earnings guidance
11 October 2023
IAG says it’s on track to deliver full-year guidance based on results to date, despite inflationary pressures and New Zealand reinsurance impacts affecting the current half...
Abico acquires Ausure ARs
11 October 2023
NSW-based Abico Insurance Brokers has acquired Ausure authorised representatives Professional Insurance Solutions Australia and Southside General Insurance...
Complainant loses dispute over wife’s missed flight
11 October 2023
A traveller who sought cover after his wife missed her flight due to its early departure has lost his claims dispute following an Australian Financial Complaints Authority determination...
INsight podcast: Steadfast makes its US move
11 October 2023
Steadfast's move into the US market is the main topic of discussion on the latest Insurance News podcast...
‘A little bit lazy’: Lloyd’s chief criticises climate change claims narrative
10 October 2023
Lloyd’s Chief of Markets Patrick Tiernan says assertions that climate change is primarily to blame for a rapid increase in natural catastrophe losses are wrong – and the driving force behind the trend is the growth of assets in high hazard locations...
‘It’s about fairness’: consumer group renews push for cyclone pool changes
10 October 2023
The Australian Consumers Insurance Lobby has again pushed for a review of the cyclone reinsurance pool, saying the scheme’s premium setup means northern residents are subsidising free coverage for the rest of the country...
Policyholder loses challenge over agreed value settlement for vehicle model
10 October 2023
A vehicle owner who challenged her insurer’s offered reimbursement has lost her dispute after an Australian Financial Complaints Authority determination backed the insurer’s decision...
Experts to livestream disaster innovation challenge
10 October 2023
A Disaster Challenge Final is to be held on Thursday where expert teams will pitch innovative solutions to manage floods, bushfires, storms, cyclones and other natural hazards...
US acquisition ‘biggest in terms of potential’: Steadfast CEO
06 October 2023
Steadfast CEO Robert Kelly says a US insurance network acquisition announced today is the company’s biggest in terms of potential, despite a lower price tag compared with some previous transactions...
‘No one to sue’: motorist who swerved to avoid deer fails to extend injury payments
06 October 2023
NSW's Personal Injury Commission tribunal has upheld an insurer’s decision to stop statutory benefit payments to a motorist who sustained catastrophic injuries after he swerved to avoid two deer and ended up colliding with a vehicle...
Melbourne Water to adopt 15 flood review recommendations
06 October 2023
Melbourne Water will implement 15 recommendations made by a review panel after an inquiry into flooding of the Maribyrnong River a year ago...
Insurer not required to cover 'unattended' jet ski stolen from car park
06 October 2023
A complainant whose jet ski and trailer were stolen while stored at a shopping centre car park will not be covered after a dispute ruling found he failed to take “reasonable precautions” to prevent the theft...
IAG appoints UK executive William McDonnell as CFO
05 October 2023
IAG has appointed William McDonnell, a London-based senior leader in finance, risk and climate action, as CFO following a search to replace Michelle McPherson, who is retiring from the role...
Nearby not close enough: fitness centre loses BI dispute
05 October 2023
A Melbourne fitness centre has lost a dispute over pandemic business interruption cover after unsuccessfully pointing to a Federal Court test case ruling to argue that an outbreak in the local community was sufficient to meet policy requirements...
Complainant wins lost luggage dispute over bag left on plane
05 October 2023
A traveller who lodged a claim for lost luggage after leaving a bag on a plane has won his dispute after the Australian Financial Complaints Authority ruled that his insurer could not apply an exclusion...
Lithium batteries causing home fire claims: AMI
05 October 2023
Lithium-ion batteries and their charging systems are resulting in at least one home insurance claim for fire damage per month, AMI data shows...