Daily
Marsh McLennan appoints Bryant to new Pacific CEO role
09 February 2023
Marsh McLennan has appointed David Bryant to a newly created Pacific leadership role as the company looks to draw on expertise from across its four businesses to assist clients facing interconnected challenges...
CHU launches strata inspection service
09 February 2023
Steadfast-owned strata specialist CHU has unveiled a new building inspection serviced aimed at the strata industry, where it is one of the major insurance providers...
Auckland flood: Tower hit by almost 5000 claims
09 February 2023
New Zealand’s Tower has received 4810 claims after unprecedented flooding hit upper parts of the North Island, including Auckland, last month...
Insurer loses disclosure dispute over 'inconsistently applied' guidelines
09 February 2023
A complainant who failed to disclose his claims history will have his claim assessed after a dispute ruling found that his insurer inconsistently followed its underwriting guidelines...
Quality of Advice final report targets 'serious defects', backs commissions
08 February 2023
The Quality of Advice Review final report calls for an expanded definition of personal advice and recommends other changes relating to the way advice is provided, saying the changes are aimed at “serious defects” in the current regulatory setup...
Suncorp first-half profit jumps 44%, targets affirmed
08 February 2023
Suncorp first-half net profit has risen 44.3% to $560 million supported by rising premiums, the release of the majority of a provision set aside for business interruption claims and improved investment returns...
Earthquake hits 'already challenging' local reinsurance industry: AM Best
08 February 2023
Rating agency AM Best says the devastating series of earthquakes that hit Turkey on Monday is “another blow” to the country’s strained reinsurance system...
INsight podcast: IAG under pressure
08 February 2023
IAG's struggles with inflation and catastrophe claims, and the impact on its margins, are the hot topic for discussion on the latest edition of the Insurance News podcast...
Ready for take-off: TravelCard set for Australia restart
07 February 2023
TravelCard says its broker-focused Australian operations will resume travel insurance sales in the second quarter after the business entered exclusive negotiations for an underwriting arrangement with Guild Insurance...
Gallagher snaps up another Melbourne brokerage
07 February 2023
Melbourne‐based brokerage Professional Insurance Solutions has been acquired by Gallagher, further expanding its footprint in Victoria and 1100‐strong Australian broking workforce...
Earthquake kills thousands, flattens buildings in Turkey and Syria
07 February 2023
A 7.8 magnitude earthquake that struck in the early hours of Monday has killed more than 4300 people in southern Turkey and northern Syria, and could result in economic losses of more than $US10 billion...
Cyclone forecast to approach Queensland as tropical activity picks up
07 February 2023
The Bureau of Meteorology says there’s a high chance that a cyclone will travel towards the central Queensland coast this week amid an increase in tropical storm activity across northern Australia...
Commercial property rates in for 'difficult' period: Marsh
03 February 2023
Commercial property rates in catastrophe-prone areas are likely to see steeper increases in the coming months even as overall pricing conditions continue to ease, broker Marsh says after the release of its latest quarterly update...
IAG cuts guidance after Auckland flooding, inflation
03 February 2023
IAG has cut its full-year margin guidance as a result of the Auckland floods and an anticipated increase in natural perils costs and with inflationary impacts exceeding expectations during the first half...
Steep hard market pressures 'levelling out': Gallagher
03 February 2023
Insurance premium increases have continued to level out in most commercial lines as hard market conditions plateau, though underwriters remain selective and favour businesses with a “good story to tell,” Gallagher’s latest Business Insurance & Risk Market Update says...
Hazards Insurance Partnership meets on risks, affordability
03 February 2023
The Hazards Insurance Partnership, involving the Federal Government and the industry, has held its first meeting as part of aims to improve resilience for extreme weather risks and to put downward pressure on premiums...
Government urged to go beyond 'easy wins' in advice review response
02 February 2023
The Federal Government has been urged to go beyond picking “easy wins” in its response to the Quality of Advice review, which is expected to recommend significant changes in line with proposals flagged last year...
Mould report calls for better education on waterproofing
02 February 2023
A new study backed by the Victorian Building Authority has highlighted improving practitioner education on waterproofing standards as an important tool in reducing the likelihood of mould damage inside buildings...
'Need to be smarter': bushfire research targets action
02 February 2023
Natural Hazards Research Australia says findings from a multi-pronged research program, undertaken in response to the Black Summer bushfires, will help better prepare the country as it faces rising risks...
'Sudden and unexpected': insurer liable for property damage after quake event
02 February 2023
The Australian Financial Complaints Authority has ruled an insurer must indemnify a claim for damage to a townhouse after a 5.9-magnitude earthquake struck in September 2021, as the loss fell within the policy’s definition of “damage”...