Daily
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”...
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...