Ardonagh closes in on PSC takeover
26 September 2024
UK-based Ardonagh is a step nearer to wrapping up its $2.3 billion acquisition of PSC Insurance Group after the Australian broker’s shareholders voted overwhelmingly in favour today...
Daily
Intermediated premium tops $19 billion in June half
26 September 2024
General insurance intermediaries including brokerages issued premium invoices totalling about $19.9 billion in the six months to June, according to an Australian Prudential Regulation Authority update...
ICA tells election contenders to end insurance tax ‘madness’
26 September 2024
The Insurance Council of Australia has urged Queensland to scrap home insurance stamp duty, weighing in a month before the October 26 state election...
Claimant secures car payout after row over son’s criminal past
26 September 2024
A motor policyholder has won a dispute with her insurer over claims she made a misrepresentation by not disclosing her son, who had a criminal history, as a listed driver...
AEI wins $500,000 after ex-worker poached clients
25 September 2024
The Federal Court has ordered a former AEI Insurance Group account manager to pay $500,000 in damages after more than 40 clients moved to a rival brokerage he joined following his resignation...
Brokers criticised over commission disclosure breaches
25 September 2024
The Insurance Brokers Code Compliance Committee has called for improvements after a “significant increase” in breaches related to disclosure of remuneration...
Dropping price: insurer liable for bat scat damage to Porsche
25 September 2024
The complaints authority has backed Auto & General’s decision to deny a claim for a stolen Porsche but says it must pay for paint damage caused by bat droppings while the car was in its care...
INsight podcast: Senate inquiry turns attention to commissions
25 September 2024
The Senate inquiry into the impact of climate risk on insurance premiums has turned its attention to commissions - and the latest episode of the Insurance News podcast considers what senators had to say...
Regulators ‘strongly encourage’ price surge transparency
24 September 2024
Regulators are pushing insurers to be more transparent about the drivers of premium increases, with policyholders saying reasons for unexpected surges aren’t adequately explained...
Allianz poised to sell premium funding business: report
24 September 2024
Allianz is expected to sell its Hunter Premium Funding business by the end of the year, according to a report in the Australian Financial Review...
'Stop building on floodplains': ICA repeats warning as development approved
24 September 2024
The Insurance Council of Australia has renewed calls to stop building on floodplains after concerns were raised over the Queensland Government’s decision to approve a significant Gold Coast housing project...
Truck firm's emu collision claim fails to fly
24 September 2024
A company that said its truck broke down due to a collision with an emu will not be covered for its loss after the dispute ombudsman ruled that mechanical failure was the cause...
NSW passes strata reforms, commission ban ‘on the table’
20 September 2024
Strata laws that strengthen enforcement and increase transparency on remuneration and conflicts of interest have passed the NSW parliament, as the government continues to consider action on commissions paid to strata managing agents...
Sedgwick launches product recall report as risks rise
20 September 2024
The first Australian edition of Sedgwick’s product recall report shows more than 600 “corrective actions” in the first half of the year across the automotive, consumer product, food and drink, medical device and pharmaceutical sectors...
Insurer pays price for fixing uninsured vehicle
20 September 2024
QBE will not be allowed to recover repair costs from a complainant after it fixed his wife’s vehicle when it was no longer insured...
Mutuals are for good risks, not bad
20 September 2024
An upcoming webinar will dispel myths about insurance alternatives – including that discretionary mutual funds are intended to tackle uninsurable or bad risks...
Cost rises eroding cyclone pool savings, monitor says
19 September 2024
The cyclone reinsurance pool has started delivering lower premiums for some consumers but savings have been offset by other cost rises, the Australian Competition and Consumer Commission says...
RACQ renews tax reform push as Queenslanders prepare to vote
19 September 2024
RACQ has again pressed for the scrapping of home insurance taxes ahead of the Queensland elections on October 26...
Insurer wins dispute after quake shakes up Morocco trip
19 September 2024
A traveller who cancelled her trip to Marrakech after a 6.8-magnitude earthquake struck the Atlas Mountains has lost a claim dispute...
Wild west: severe weather claims surge in WA, SA
19 September 2024
NRMA Insurance received 5771 “wild weather” claims in winter, down 40% from autumn but up from 4184 in winter last year, with water entering homes one of the most common issues...