ICA ‘disappointed’ by federal budget
26 March 2025
The Insurance Council of Australia has criticised last night’s federal budget, noting it contains “no new money” for disaster resilience...
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Cyclone pool outlines plan to cover Alfred losses
26 March 2025
The Australian Reinsurance Pool Corporation says it has “comprehensive arrangements” in place to manage claims from storm Alfred, which is on track to be the cyclone pool’s costliest event since it launched in 2022...
AFCA backs insurer over hail claim for ‘dilapidated’ roof
26 March 2025
A homeowner has lost a claim dispute after the complaints authority found hail caused no notable damage to his roof...
RAA turns to Duck Creek for tech overhaul
26 March 2025
South Australian motoring group RAA’s legacy technology for motor and home insurance products will be replaced with Duck Creek’s OnDemand cloud platform...
‘No fights’: Steadfast CEO explains Fitzgerald exit
25 March 2025
Steadfast CEO Robert Kelly says Nigel Fitzgerald was “very much in line” to take over his role when he retires, but the group’s COO has decided running a large publicly listed company is “not in his future”...
Call for claim handler code as ‘unethical few’ threaten image
25 March 2025
Claim intermediaries should develop a code of practice to promote consumer confidence, as the actions of unethical operators tarnish the reputations of those providing fair services, insurance industry compliance specialist Paul Muir says...
Mid-crisis is ‘no time for a chatbot’, dispute authority warns
25 March 2025
Insurance customers in hardship or a crisis such as a flood need “somebody to listen and to respond” rather than a chatbot, the financial services ombudsman says...
Envest buys majority stake in advisory firm
25 March 2025
The Envest Group has acquired a majority stake in fast-growing financial advisory business Wealth Architects...
APRA praises ‘commendable’ handling of cyclone catastrophe
21 March 2025
The industry has demonstrated “positive signs” in supporting customers affected by Ex-Tropical Cyclone Alfred, an Australian Prudential Regulation Authority director says...
Insurance Law Service calls for funding certainty
21 March 2025
The Insurance Law Service has told the federal government it needs $2.3 million a year to run its critical facility...
Steadfast Client Trading Platform adds NZ personal lines
21 March 2025
The Steadfast Client Trading Platform now includes personal lines in New Zealand for the first time...
Mother loses payout row after slip ends Brazil trip
21 March 2025
A holidaymaker whose trip was cut short after she suffered a fall has lost a claims dispute before the Australian Financial Complaints Authority...
‘Not good enough’: code review panel calls for stronger ICA response
20 March 2025
The independent panel that reviewed the industry code of practice has criticised the Insurance Council of Australia’s response to its recommendations, particularly on pricing and enforceability, and where it has deferred matters to individual members...
Alfred claims pass 74,000 as Climate Council blames emissions
20 March 2025
The number of claims from Ex-Cyclone Alfred has risen to 74,578 as of noon today, according to the latest Insurance Council of Australia statistics...
Revamped premium funding code set for July start
20 March 2025
The Insurance Premium Funding Code of Practice has had its first update since it took effect in October 2022...
Uninsured driver loses payout row after fire truck sparks crash
20 March 2025
The financial services ombudsman has sided with QBE in a dispute involving an uninsured driver who crashed into the insurer’s customer...
Cyclone pool to cover $1.7 billion in Alfred claims, Chalmers says
19 March 2025
Ex-Tropical Cyclone Alfred will cost the reinsurance pool about $1.7 billion in claims, according to Treasurer Jim Chalmers, who has raised concerns over longer-term impacts such as higher building costs for insurers...
Explain price rises to stem flow of complaints, insurers told
19 March 2025
The dispute authority has urged insurers to better explain the rationale for premium increases after a sharp rise in consumer complaints on the issue...
AFCA rejects wedding venue’s covid BI claim
19 March 2025
A Melbourne wedding venue that accessed public health advice through a freedom of information request to support its covid business interruption claim has lost its case before the Australian Financial Complaints Authority...
INsight podcast: ICA reveals action plan
19 March 2025
The Insurance Council of Australia's action plan to respond to a raft of recommendations for reform is the main talking point on the latest Insurance News podcast...