Daily
El Nino indication looms in bureau-watched climate model
28 February 2023
The Bureau of Meteorology says one of the seven international climate models it surveys is indicating a swing to El Nino thresholds may be reached in late autumn following the decay of the current flood-driving La Nina...
'Opportunistic' M&A deals, underwriting agency growth predicted
28 February 2023
Some “opportunistic” merger and acquisition deals may come into play as insurers in Australia review their strategic plans while the local underwriting agency sector is expected to develop further as demand for specialist risk services grows, Clyde & Co says in a new report...
AFCA concerned over level of flood claim complaints
28 February 2023
Disputes with insurers after record floods struck NSW and Queensland a year ago have led to thousands of complaints being lodged at the Australian Financial Complaints Authority from affected policyholders...
QBE measures sense of belonging among staff
28 February 2023
QBE is to take stock of whether its employees feel a sense of belonging at the workplace to help create an inclusive working environment across gender, ethnicity, disability status and LGBTIQ+ identification...
Senate inquiry urged to act on 'unacceptable' insurance woes
24 February 2023
Queensland local governments and the caravan industry have pressed for action to address worsening insurance challenges around rising premiums and coverage limitations in submissions to a Senate inquiry on Australia’s disaster resilience...
ASIC sues RACQ Insurance over pricing discount failures
24 February 2023
The Australian Securities and Investments Commission has launched Federal Court action against RACQ Insurance over pricing discount failings as it cracks down on an industry-wide issue...
NIBA appoints new president
24 February 2023
Gary Okely has been appointed President of the National Insurance Brokers Association after the departure of Dianne Phelan, whose term concluded today...
Insurer must cover mould damage caused by prolonged wet weather
24 February 2023
A homeowner will be covered for mould contamination caused by heavy rainfall after a dispute ruling overturned her insurer’s decision to deny the claim...
Industry faces 'balancing act' as costs continue to rise, S&P says
23 February 2023
Australian insurers need to find the right balance as they push ahead with charging higher premiums to manage the impact of higher claims and reinsurance costs, at a time when policyholders are also struggling with living costs, S&P Global Ratings says today in a new report...
Insurance Brands Australia acquires Southern Cross Brokers
23 February 2023
Insurance Brands Australia has acquired Port Melbourne-based Southern Cross Brokers, providing clients of the firm with access to a further range of products and benefits...
'Total loss': vehicle owner paid $54,000 after insurer fails to fix parking sensors
23 February 2023
A complainant will be compensated for his damaged vehicle that was deemed “impractical to repair”, as well as non-financial losses relating to his insurer’s claims handling, following a dispute ruling determination...
INsight feature: deep dive into the cyclone pool
23 February 2023
The government's new cyclone reinsurance pool will have a positive impact on insurance affordability over the long term, the Australian Reinsurance Pool Corporation says...
Steadfast first-half revenue jumps 27%
22 February 2023
Steadfast’s earnings and revenue jumped significantly during July-December, boosted by strength in price and volume and “prudent” acquisitions, including Insurance Brands Australia...
AUB profit jumps, Tysers makes first contribution
22 February 2023
AUB Group says a strong performance across broking and agency operations and a first contribution from the UK Tysers acquisition drove a 52% increase in underlying net profit in the first half...
PSC upgrades earnings outlook as half-year profit grows
22 February 2023
PSC Insurance Group has raised its 2022/23 outlook after the business posted higher first-half earnings, supported by strong contributions from its core Australia broking business, growing UK operations and recent acquisitions...
INsight podcast: insurers' identity crisis and what to do about it
22 February 2023
A report that claims insurers are facing an identity crisis is the focus for the latest episode of the Insurance News podcast...
Allianz expands cover in cyclone-prone north after joining pool
21 February 2023
Allianz Australia says it has started offering direct home and landlord cover to consumers in cyclone-prone areas of northern Queensland and WA as a result of its entry into the government-backed reinsurance pool scheme...
Johns Lyng ups earnings target after strong first-half
21 February 2023
Johns Lyng Group says its insurance-focused unit is the “bedrock” of its business as the building services provider today announced first-half net profit rose 83.6% to $34.1 million from a year earlier...
Unions call for engineering stone ban amid rising silicosis cases
21 February 2023
Major Australian unions have urged governments to introduce a ban on the use of engineered stone products, saying that inaction runs the risk of an asbestos-like health crisis...
Claimant loses salvage dispute over wrecked $150,000 Porsche
21 February 2023
A vintage car owner who sought to lower his vehicle’s salvage cost after it was deemed a total loss has lost his claims dispute...