Daily
IAG tracks toward full-year guidance, NZ challenging
14 June 2023
IAG says the business is “trending towards” its reported insurance margin guidance for this financial year as double-digit pricing increases in the second half drive expected gross written premium growth of around 10%...
Insurance hit by ‘entrenched skills recession’: Hays
14 June 2023
Insurance takes seventh place in the list of Australia’s professions most impacted by skills shortages, according to a survey of employers by recruiter Hays...
'Why is it relevant?' Driver loses claims dispute after disclosure breach
14 June 2023
A complainant who failed to inform her insurer about numerous driving infringements has lost her appeal to overturn claim denials relating to the theft of two vehicles...
Claims payout from failed Victorian builder tops $3 million
14 June 2023
The Victorian Managed Insurance Authority has paid out $3 million in claims lodged by clients of Porter Davis, following the sudden collapse of the Melbourne-based residential home builder in March...
Commissions stay, but Government holds back on other advice review proposals
13 June 2023
The Federal Government has finally responded to the Quality of Advice Review recommendations, agreeing general and life insurance commissions will stay but holding back on other key proposals including expanding the definition of personal advice until it has consulted with stakeholders...
Don McLardy recognised in King’s Birthday Honours
13 June 2023
McLardy McShane CEO Don McLardy was among insurance industry participants recognised in this year’s King’s Birthday Honours as community and charity work was highlighted...
‘The Pride has lost a leader’: Lion Underwriting Director dies
13 June 2023
Ralph Dissell, a Director at Lion Underwriting, has died after a short battle with cancer...
Zurich appoints new Chief Claims Officer
13 June 2023
Zurich Financial Services Australia has named Matt Paterson as Chief Claims Officer for Australia and New Zealand...
Top level national risk focus needed: ICA President
09 June 2023
The Federal Government’s $200 million per year spending on mitigation should be just the start of an increased insurance-related risk focus at Australia’s top political and regulatory levels, Insurance Council of Australia President Nick Hawkins says...
Suncorp backpays $32 million to staff in owed wages, loadings, meal allowances
09 June 2023
Suncorp has made $32 million in back payments to more than 15,800 employees at its insurance businesses who were underpaid between May 2014 and March last year, after self-reporting the matter in 2020 to the Fair Work Ombudsman...
Storm-devastated council calls on insurers to ‘do the right thing’
09 June 2023
Victoria’s Yarra Ranges council is urging insurers to continue to provide rental assistance and help ensure customers rebuild to current standards two years after damaging storms felled large trees and caused widespread property damage...
ANZ deal offers significant insurance benefit, ACCC told
09 June 2023
Operating as a pure play insurer will be a significant benefit to the Australian public, Suncorp says, and will make the insurer stronger as the industry faces volatility in global reinsurance markets and tougher capital requirements...
Suncorp’s AA Insurance hit with court action over alleged discount failures
08 June 2023
Suncorp-backed New Zealand insurer AA Insurance is facing civil proceedings over alleged failures to apply discounts and guaranteed no claim bonuses to eligible customers’ premiums, leading to overcharges of $NZ11.2 million ($10.2 million)...
Queensland proceeds with $174 million Bundaberg levee after securing funding
08 June 2023
Queensland will go ahead with the Bundaberg East Levee after the flood mitigation project secured $174.7 million in funding commitments at state and federal levels...
Natural disaster response costs NSW billions
08 June 2023
The NSW government’s disaster response expenditure blew out to $2.5 billion in the 18 months to December 31 as storms and severe floods damaged roads, bridges, waste collection centres and other essential services facilities, and large grants were allocated...
Cleaner and escort worker ordered to repay WorkSafe after fraud discovered
08 June 2023
A fraudster who operated as a cleaner and escort while receiving over $74,000 in workers’ compensation will be required to repay WorkSafe after he pleaded guilty to fraudulently obtaining payments by deception...
‘New era’ for resilience investment as $400 million mitigation projects announced
07 June 2023
The Federal Government has announced the list of 187 projects that will receive $200 million from the mitigation-focused Disaster Ready Fund to shore up the country’s defences against future floods, cyclones and other natural perils...
Court backs builder over Atlantis cladding claim notification
07 June 2023
The Federal Court has found against insurers in a dispute over whether they were notified about a possible professional indemnity claim over flammable cladding on the 36-storey Atlantis Towers building in Melbourne, amid wider concerns generated by the Lacrosse fire...
Suncorp deal won’t substantially lessen competition: ANZ
07 June 2023
ANZ CEO Shayne Elliott says Australia’s banking sector is dynamic and competition continues to increase, and its $4.9 billion offer to buy Suncorp Bank should not be blocked by the regulator...
INsight podcast: the demise of Catholic Church Insurance
07 June 2023
The failure of Catholic Church Insurance is the main topic tackled by the panel in the latest edition of the Insurance News podcast...