Daily
FAR, CSLR go before Senate after House of Representatives passage
24 March 2023
The Financial Accountability Regime Bill 2023 and legislation for the compensation scheme of last resort are now before the Senate after securing passage in the House of Representatives this week...
Insurer wins court appeal in heart attack disclosure dispute
24 March 2023
The Federal Full Court has ruled a life insurer is entitled to decline cover due to a doctor’s non-disclosure of his heart problems, despite the false information being given to an earlier provider before a group policy changed hands...
Tower recruits Chief Risk Officer from APRA
24 March 2023
Tower has appointed Australian Prudential Regulation Authority General Manager Sharyn Reichstein as its new Chief Risk Officer...
Claimant loses dispute over travel cover eligibility
24 March 2023
A traveller who suffered a heart attack overseas will not be compensated after an Australian Financial Complaints Authority determination backed his insurer’s decision to deny the claim...
Affordability challenge 'never greater': Suncorp CEO
23 March 2023
More support is needed for vulnerable Australians facing rising risks and increasing insurance premiums as relentless extreme weather continues, Suncorp CEO Steve Johnston says...
Latitude Financial notifies insurers over malicious cyber attack
23 March 2023
Latitude Financial has notified its insurers over a “sophisticated, well-organised and malicious cyber attack” that has involved large-scale information theft affecting past and present customers across Australia and New Zealand...
Zurich partnership to lift commercial EV uptake
23 March 2023
Zurich has partnered with e-mobility technology company SEA Electric in Australia to encourage the transition of fleets to electric vehicles...
Gabrielle set to cost NZ insurers at least $829 million
23 March 2023
Insurers are expecting at least $NZ890 million ($829 million) in claims losses from Cyclone Gabrielle, the Insurance Council of New Zealand says today in a provisional update...
Broking director charged over alleged misuse of client monies
22 March 2023
The Australian Securities and Investments Commission says Renato De Maria, the sole director of Alliance Management Group Pty Ltd, formerly Alliance Insurance Broking Services Pty Ltd, has been charged with criminal offences relating to the misuse of about $35 million of client monies...
Productivity Commission criticises premium subsidies, calls for cyclone pool phase-out
22 March 2023
The Productivity Commission has cautioned against more government-backed premium subsidy measures in future, warning such “intervention” distorts decision-making by individuals and businesses and will only put them in “harm’s way” as climate risks grow...
Insurer must pay claimant for storm repairs to home
22 March 2023
A homeowner whose property was damaged by a storm will be compensated for her losses after a dispute ruling determination overruled her insurer’s decision to decline the claim...
INsight podcast: AFCA complaints surge causes dispute delays
22 March 2023
Dispute delays at the Australian Financial Complaints Authority are the main topic of discussion in the latest Insurance News podcast...
Envest acquires majority stake in Wellington Underwriting
21 March 2023
Ardonagh-owned Envest has acquired a majority stake in specialty property, labour hire and liability agency Wellington Underwriting...
Good coffee trumps wild weather risks for Australians on the move
21 March 2023
Australians looking for new homes are prioritising good coffee and dining options over wild weather and bushfire threats in their new postcodes, IAG-owned NRMA Insurance says in a new report today...
Insurer must pay for tenant's mould-damaged contents
21 March 2023
A tenant who said that she and her family were left homeless due to her insurer’s failure to properly assess mould damage claims has been compensated following an Australian Financial Complaints Authority determination...
Youi appoints Brisbane-based CIO
21 March 2023
Youi has appointed Steve Nichols to the role of CIO, saying his experience leading digital transformation projects in major companies and start-up environments will be invaluable in Australia’s competitive insurance market...
Weekend heatwave, winds spark bushfire fears
17 March 2023
Much of southern Australia will experience extreme heat this weekend, leading to dire bushfire warnings, with some already blazing...
One third of business interruption disputes resolved: AFCA
17 March 2023
About a third of business interruption disputes lodged with the Australian Financial Complaints Authority have been resolved following industry legal test cases related to pandemic cover, Lead Ombudsman Insurance Emma Curtis said today...
Machine operator took $111,000 in workers' comp payments while running own business
17 March 2023
A Victorian machine operator who deceived WorkSafe Victoria into providing him with almost $111,000 in support payments has been ordered to return the money to the workers’ compensation scheme...
Cover-More names new Group CFO
17 March 2023
Zurich-owned travel insurer Cover-More has appointed Justin Sebire as its Group CFO...