No let-up in affordability strain, analysts warn
21 November 2024
Worsening affordability looms as a major test for insurers after they relied mainly on rate increases to drive premium growth, McKinsey & Company says in a global report...
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Emerging risks in tech, supply chains front of mind for business
21 November 2024
Technology and artificial intelligence dominate emerging risk concerns for Asia-Pacific businesses, while supply chain worries feature prominently, a WTW report published today finds...
‘Groundbreaking’ mould research prompts reform call
21 November 2024
A project involving Victoria’s building regulators and a leading mould remediation group has produced a set of reform proposals to tackle building moisture problems, after the release of “groundbreaking research”...
Driver’s dune nosedive a ‘genuine mistake’
21 November 2024
A driver who crashed his truck on a sand dune will be covered for his losses after the dispute authority found he did not act recklessly...
Cyberattack data reveals ‘persistent and disruptive’ threat
20 November 2024
More than 87,400 commercial cybercrimes were reported last financial year, the Australian Signals Directorate intelligence agency says in an annual update...
Insurers cop criticism over 600 quake claims
20 November 2024
A string of earthquakes in Muswellbrook, NSW, has led to more than 600 claims and criticism of insurers from local politicians, who have labelled the response “a joke”...
Widow secures payout after dispute around husband’s death
20 November 2024
A woman has won a claim dispute after her husband died of a heart attack overseas and their travel insurer refused to pay out over an alleged misrepresentation of pre-existing conditions...
INsight podcast: Finity assesses high-flying industry profits
20 November 2024
Finity's Optima report and what it tells us about industry profitability is the main topic debated on the latest episode of the Insurance News podcast...
Senate committee delays insurance report
19 November 2024
A Senate inquiry examining insurance affordability and availability has delayed the publication of its final report for a week...
Insurance News launches Outlook 2025 conference
19 November 2024
Insurance News will hold its second annual conference in March, tackling the key issues affecting the industry and providing unparalleled access to experts...
‘Left in limbo’: plea for progress on advice reform amid hold-up fears
19 November 2024
Life insurers have pressed the federal government to push ahead with plans to introduce a simple advice model after a media report today said the reform was at an impasse...
AFCA rules waxing salon is business, not hobby
19 November 2024
A Suncorp customer who did not disclose that his wife ran a beauty salon from their home has lost a storm damage claim dispute...
Strata manager contract clauses ‘disadvantage consumers’
15 November 2024
Strata management contracts specifying insurance commission levels over the life of the agreement are disadvantaging property owners, the Australian Consumers Insurance Lobby says...
Bear-faced cheat? Grizzly scenes as four held over ‘animal attacks’
15 November 2024
Four people have been arrested after US investigators found a person in a bear costume faked animal damage to three luxury cars in an insurance fraud...
ASIC keeps spotlight on insurers after pricing failures
15 November 2024
The corporate regulator’s enforcement priorities for next year include a focus on insurer dealings with customers, following action already taken on pricing promise failures...
Theft claim denied in full after fraudulent bid to inflate payout
15 November 2024
A theft victim has had his claim scrubbed out – including the legitimate part of it worth almost $35,000 – after he created fake invoices to inflate its value...
Personal lines help industry profits ‘maintain heights’
14 November 2024
The industry performed well for the second year running as householders and private motor lines lifted results, Finity says in an annual report...
‘Heartbreaking’: stressed families cutting cover to make ends meet
14 November 2024
More than two-thirds of parents worry about higher insurance premiums caused by increasingly intense and frequent “unnatural disasters”, and many families have gone without cover while tightening budgets in the past year, a study has found...
Drug-producing tenant ‘didn’t intend to damage property’
14 November 2024
A farm policyholder will be covered for damage caused by a tenant who used the property to produce and store drugs, after an ombudsman overruled the insurer’s claim denial...
Dangerous rides, inflatables trigger WorkSafe warning
14 November 2024
WorkSafe Victoria has found scores of safety issues affecting community event amusements such as jumping castles and inflatable rides during its inspections this year...