Ombudsman flags rise in systemic flaws
12 November 2024
The Australian Financial Complaints Authority reported 17 general insurance systemic issues to regulators in the second half of last financial year, in a jump from previous periods...
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Expert-led cyber seminar can be live-streamed
12 November 2024
Insurance News’ upcoming half-day cyber seminar will be live-streamed, as an additional option for professionals unable to travel to Sydney...
Insurer entitled to hike home premium over updated flood risk
12 November 2024
A Brisbane homeowner whose annual premium increased by more than $4500, primarily due to his flood cover, has lost a bid to have his insurer’s decision reviewed...
NZ risk profile muddies waters on flood pool, industry says
12 November 2024
The Insurance Council of New Zealand says any government-backed flood pool would need to factor in the nation’s unique exposure to natural disaster risks...
AFCA releases proposed guidance on misrepresentations
08 November 2024
The Australian Financial Complaints Authority has opened consultation on a new approach document about the duty to take reasonable care not to make misrepresentations...
Insurtech funding ‘vibrant’ as investments climb
08 November 2024
Global insurtech funding totalled $US1.38 billion ($2.08 billion) in the third quarter, up from $US1.1 billion ($1.66 billion) a year earlier to its highest level since the first quarter of last year...
Stolen or lost? Panel finds no difference as claimant wins payout
08 November 2024
A woman who said about $200,000 worth of items were stolen from her home will be covered for her losses despite her insurer’s scepticism about the theft claim...
Time running out to sign up for claims webinar
08 November 2024
A free webinar will be held on Wednesday exploring the issue of collaboration in claims management...
Industry profit at decade high amid pressures: Taylor Fry
07 November 2024
The general insurance industry recorded an after-tax profit of $3.9 billion in the nine months to June 30, its strongest result in more than 10 years as the contribution from reinsurers rose...
Ex-student wins $1.7 million payout after bully attack
07 November 2024
State authorities have been told to pay a former student more than $1.7 million after he was beaten by 12 classmates in an “unprovoked, violent and lengthy” assault...
APRA seeks feedback on reinsurance rethink
07 November 2024
The prudential watchdog is consulting on potential changes to its reinsurance framework in a bid to address premium affordability challenges...
Crash claim rejected over undisclosed delivery job
07 November 2024
An Uber Eats driver who sought cover for a car accident has lost a claim dispute because he failed to disclose his occupation to his insurer...
Suncorp outlines $560 million digital spend
06 November 2024
Suncorp says a $560 million “digital insurer” platform modernisation program and the use of artificial intelligence to improve operations will drive the next phase of its growth plans...
NIBA names head for ‘critical’ broking code review
06 November 2024
Phil Khoury has been appointed independent reviewer of the Insurance Brokers Code of Practice...
Pest estimate: AFCA backs insurer over rodent damage
06 November 2024
A strata unit owner who claimed for water damage caused by a broken dishwasher hose will not be covered for her losses because the leak was thought to be caused by rodents...
INsight podcast: has climate changed the game?
06 November 2024
A new report that flags the possibility of further "intervention" in the insurance market is the first topic discussed on the latest episode of the Insurance News podcast...
ACCC says ‘actual’ past premium paid is key renewal notice figure
05 November 2024
The Australian Competition and Consumer Commission, which has previously recommended insurers clearly disclose the past year’s premium on renewal notices, has said the amount “actually paid” is the key figure...
Kmart appeal over $600k box blow payout falls flat
05 November 2024
Retail giant Kmart has been ordered to pay almost $625,000 to a grandmother who was injured when a heavy box fell onto her in one of its store’s self-serve checkout areas...
Liberty revamps Asia Pacific team
05 November 2024
Sydney-based Robert Mercer has been promoted to Asia Pacific head of claims at Liberty International Insurance as part of wider leadership changes...
'Deliberately lit': AFCA backs fire claim denial
05 November 2024
A WA policyholder with an extensive criminal history, including arson, has lost a claim dispute...