Daily
Allianz reviewing optional flood cover after catastrophic events
07 September 2023
Allianz says last year’s catastrophic floods have sparked the insurer to examine whether it is viable to continue offering optional flood cover in its home insurance product...
‘It’s a yes from us’: IAG backs Voice proposal
07 September 2023
Giant insurer IAG has officially thrown its support behind the Voice, as the nation prepares to take part in next month’s referendum...
AMA Group posts loss after inflation, rising repair severity
07 September 2023
Crash repairer AMA Group, which today posted a net loss and outlined details of a capital raising, says pricing must remain a focus given impacts from inflation and increasing repairs severity...
Uninsured scooter rider loses dispute over crash
07 September 2023
An uninsured scooter driver who alleged that an insured driver was at fault for a collision will not be compensated for damage after losing his claims dispute...
Howden New Zealand acquires Apex Insurance
06 September 2023
Howden has acquired Auckland-based Apex Insurance New Zealand, a brokerage focused on commercial mid-market, SME and domestic customers across a wide range of industries...
Funeral insurer hit with $1.2 million penalty
06 September 2023
ACBF Funeral Plans made false, misleading representations selling its funeral insurance products to Indigenous customers, the Federal Court has ruled, ordering the company to pay a penalty of $1.2 million...
Policyholder loses 'overinsured' antique furniture dispute
06 September 2023
A complainant who insured antique furniture for up to $50,000 has lost a dispute after his insurer valued the items, which were ruined by a water leak, at just $9700...
INsight podcast: Australia's fiery future
06 September 2023
The most recent weather forecasts, which point to a fiery spring and summer for Australia, are the main talking point on the latest episode of the Insurance News podcast...
Rising capacity curbs construction rate increases
05 September 2023
Greater competition following new capacity entering the market and improvements in insurers’ profitability have driven an easing in overall rate increases across the construction sector, WTW says in a mid-year update...
Dive In festival registration opens
05 September 2023
Registration for the insurance industry’s 2023 global diversity, equity and inclusion festival is now open, with more than 130 events in 35 countries on offer...
Hard to swallow: insured fails to claim shattered tooth crowns as contents
05 September 2023
A complainant who sought cover after two porcelain crowns in his front teeth broke has lost a dispute after trying to claim under his home contents policy...
'Most significant change in a generation': FAR clears Senate
05 September 2023
Legislation for the Financial Accountability Regime passed the Senate today, paving the way for the commencement of stronger conduct standards for directors and senior executives...
AMA Group Chairman Anthony Day exits, CEO to depart
01 September 2023
Crash repairer AMA Group says its Chairman Anthony Day has retired effective today after nearly five years on the board and CEO Carl Bizon will leave his role at the annual general meeting on November 23...
Suncorp Commercial lists key appointments
01 September 2023
Suncorp’s new Commercial & Personal Injury function starts this month led by CEO Michael Miller, who was previously EGM Commercial Insurance...
Insurer entitled to withdraw optional flood cover
01 September 2023
An NSW manufacturing business that had its optional flood cover cancelled has lost its challenge to reinstate it after a dispute ruling found the insurer’s decision was fair...
Pre-emptive buybacks needed as climate risks rise
01 September 2023
Pre-emptive buybacks to move residential properties from high risk locations should be considered as a resilience measure following the introduction of the post-flood schemes in Queensland and NSW, the World Insurance Congress Australia has heard...
Law firm investigates class actions against IAG
31 August 2023
Plaintiff law firm Slater and Gordon is looking into potential class actions against IAG over alleged pricing misconduct arising from the use of algorithms to set home premiums...
ASIC takes Youpla directors to court
31 August 2023
The corporate regulator has launched court action against five former directors of funeral insurer Youpla Group, which used high pressure tactics to sell near-worthless products to mostly Indigenous customers, as exposed during the 2018 Hayne royal commission...
‘Most egregious fraud’: former school head jailed for $430,000 scam
31 August 2023
A former school principal who faked a serious mental injury to scam the Victorian WorkCover scheme while secretly operating a childcare centre has been jailed for 22 months...
Claimant denied storm cover for termite-damaged home
31 August 2023
A property owner who alleged termite damage to his home stemmed from storm and flooding events has lost his claims dispute following an Australian Financial Complaints Authority decision...