Daily
Federal Government launches disaster funding review
01 February 2023
The Federal Government has commissioned an independent review into disaster funding arrangements as the nation faces increasingly frequent and more severe natural catastrophes...
NIBA wants household-level mitigation included in Disaster Ready Fund
01 February 2023
The National Insurance Brokers Association has pushed for an expansion of the Federal Government's $1 billion Disaster Ready Fund to include funding for mitigation works undertaken by property owners in catastrophe-prone areas...
Nurse's claim denied after losing job for 'voluntary' unvaccinated status
01 February 2023
An aged care support worker has lost her dispute after her insurer declined her loan protection repayment claim after she was fired from her work for not upholding covid vaccination requirements...
INsight podcast: new year, new catastrophes
01 February 2023
The potentially record-breaking flood event in Auckland is the main topic of discussion on the first Insurance News podcast of the year...
'Difficult to keep up': insurers face worsening cyber landscape
31 January 2023
The Australian insurance sector will struggle to stay on top of an increasingly hostile cyber terrain as threat actors, including state-backed gangs, step up their attacks on the financial services industry, according to IT security specialist BlackBerry...
La Nina fading, but flood threat remains
31 January 2023
The flood-inducing La Nina weather system is continuing to ease in the tropical Pacific, but the threat of increased rainfall still hangs over much of Australia...
Auckland in state of emergency, braces for more rain
31 January 2023
A state of emergency has been declared for flood-struck Auckland, which is bracing for further heavy rain after receiving record amounts in recent days...
Lismore resident loses dispute after opting out of flood/run-off cover
31 January 2023
A Lismore resident whose home was severely damaged by floods will not be able to claim for her losses after she opted out of “unaffordable” flood and rainwater run-off cover years before the event...
Perils lifts October flood loss estimate to $840 million
27 January 2023
Catastrophe data company Perils has lifted its loss estimate for October’s floods in NSW, Victoria and Tasmania to $840 million...
Severe California flood damage highlights insurance shortfall
27 January 2023
California flooding, which has followed extreme drought, is expected to cause economic losses of $US5-7 billion and has highlighted underinsurance issues in the US state, catastrophe risk modeller Moody’s RMS says.
'Not deliberate': suicide attempt motor claim must be paid
27 January 2023
A complainant whose teenage son crashed her vehicle in an attempted suicide will have the claim covered after a dispute ruling determined that her insurer was wrong to deny it...
Shaky ground: EQC funds motion research
27 January 2023
A new modelling technique being pioneered in New Zealand and funded by the Earthquake Commission (EQC) could be used worldwide to improve the seismic resilience of buildings...
NSW regulator fines Suncorp $100,000 for CTP breaches
25 January 2023
The NSW State Insurance Regulatory Authority has fined Suncorp compulsory third party (CTP) brands AAMI and GIO $50,000 each for failing to meet internal review timeline obligations...
Strata competition rises as new offerings launched, analyst says
25 January 2023
Independent strata analyst StrataRatings says the strata insurance market can expect to see more competition after the recent addition of new offerings that are backed by Lloyd’s...
Under pressure: Seroja 'justifies' cyclone building code upgrade
25 January 2023
Academics are seeking that Australian building standards be upgraded after finding many newer homes had significant roof damage after tropical cyclone Seroja even though wind speeds were within current design parameters...
Property owners win flood/storm dispute
25 January 2023
Homeowners whose property was inundated by water will be covered for their losses after a dispute ruling determined that stormwater, not floodwater, was the initial cause of damage...
Loyal insurance staff penalised, recruiter says
24 January 2023
Loyal insurance staff are being financially penalised after employers lured new hires with attractive offers that exceeded the average salary increases awarded to existing staff, recruiter Hays says...
Consilium's new reinsurance division eyes Australian business
24 January 2023
London-based specialty broking business Consilium has launched a cedant-driven facultative reinsurance division that it says will be looking for opportunities around the world, including in Australia...
Queensland buyback: demolition work starts on flood-hit homes
24 January 2023
The Queensland Government says demolition has started on several flood-affected homes that were among the first properties acquired under the Commonwealth-backed $741 million Resilient Homes Fund program...
Insurer criticised for cash-settling fire claim mid-way through repairs
24 January 2023
Allianz will have to pay more than the sum insured to finalise a property claim that it cash settled after the cost of repairs – which it had already started – looked set to spiral...