Daily
ARPC declares cyclone event as Ilsa intensifies
12 April 2023
The Australian Reinsurance Pool Corporation has declared Cyclone Ilsa, which is expected to cause significant damage as it crosses the WA coast, as a cyclone event under the Federal Government’s reinsurance pool...
Natural catastrophes propel parametric uptake
12 April 2023
More Australian insureds are considering parametric insurance options to help address the increasing cost of traditional policies and hazards brought about by climate change, industry consulting firm Xceedance says...
SIRA censures NRMA Insurance for delayed CTP responses
12 April 2023
The NSW State Insurance Regulatory Authority has censured IAG for delayed responses to requests for treatment, rehabilitation and attendant care under its subsidiary NRMA Insurance’s compulsory third party scheme...
'Pay it back': insurer can recover claim payment after crash timing probe
12 April 2023
A driver who took out a comprehensive motor policy shortly after an at-fault crash has lost his claims dispute and will be required to pay back his insurer for a settlement it paid out...
Allianz names new consumer division chief
11 April 2023
Allianz Australia has appointed Shez Ford as Chief GM Consumer, to take over from Mick Winter in August...
IAG invests in US insurtech Planck
11 April 2023
IAG has invested in insurtech Planck via its venture capital arm Firemark Ventures, and says there is potential for the cutting edge technology to be embedded in its CGU and NRMA Insurance brands...
Talent crunch is top challenge for local insurers: Gallagher Bassett
11 April 2023
Attracting and retaining talented professionals is the number one challenge cited by Australian insurers this year, according to a survey by Gallagher Bassett, which has more than 7000 global clients...
Storm vs deterioration: heritage property claimant loses proximate cause dispute
11 April 2023
The owner of a heritage-listed home that was damaged following a storm will not be compensated for his losses after a dispute ruling sided with his insurer’s decision to decline the claim...
'Get on top of it': insurer code breaches hit record high after soaring 40%
06 April 2023
Insurance providers breached the General Insurance Code of Practice a record 58,104 times in the 12 months to June 30 2022 – up 40% on the previous year, a new report has revealed...
Government offers temporary dwellings to aid flood recovery
06 April 2023
The Victorian Government is undertaking a $4.6 million “homes at home” temporary accommodation program for uninsured flood victims in Shepparton, prioritising residents facing financial hardship...
ANZIIF seeks Donna Walker award entries
06 April 2023
The Australian and New Zealand Institute of Insurance and Finance is seeking submissions for the 2023 Donna Walker awards until May 26...
Insurer loses disclosure dispute over fire-damaged property
06 April 2023
Claimants whose property was destroyed by fire will be compensated for their losses after a dispute ruling overturned their insurer’s decision to decline the claim due to duty of disclosure breaches...
Hundreds of claims lodged as collapsed builder fallout continues
05 April 2023
Property owners caught out by the sudden collapse of Victorian homebuilder, Porter Davis, have started to lodge claims as liquidator Grant Thornton says it is working with Queensland and Victorian state-backed insurance schemes to support them through the crisis...
Chubb enters first Oz insurtech collaboration with Qikio
05 April 2023
Local insurtech Qikio has agreed a deal to distribute contents insurance underwritten by Chubb, which says the alliance is its first digital collaboration with an insurance startup in Australia...
Charred vehicle claim must be paid, despite insurer suspicions
05 April 2023
A complainant whose car was found burnt out has won his claims dispute after an Australian Financial Complaints Authority determination overruled his insurer’s assessment which questioned the legitimacy of the event...
INsight podcast: relocation, relocation, relocation
05 April 2023
IAG's detailed report on relocating homes after natural catastrophes is the main topic of discussion on the latest episode of the Insurance News podcast...
Code committee targets culture after more than half of brokers report no breaches
04 April 2023
Brokers have been urged to review their internal compliance processes and culture after more than half did not self-report a single breach of the Insurance Brokers Code of Practice and 45% reported zero complaints in 2021...
ASIC sues Auto & General over alleged 'unfair' contract term
04 April 2023
Australia’s corporate watchdog is suing Auto & General over a contract term requiring its policyholders to notify the insurer ‘if anything changes about your home or contents’...
ACCC flags doubts over insurance impact from Suncorp bank sale
04 April 2023
The Australian Competition & Consumer Commission has doubts over several aspects of the proposed $4.9 billion sale of Suncorp’s banking arm to ANZ, including assertions that insurance customers across the country will benefit from it...
Insurer wins dispute over flooded garage 'seepage' exclusion
04 April 2023
A complainant who lodged a claim for water damage after her garage was inundated will not be compensated after a dispute ruling backed her insurer’s decision to deny the claim...