Daily
Scott Leney to leave Marsh later this year
28 June 2023
Marsh Head of Risk Management for Asia and Pacific Scott Leney will leave later in the year after 37 years with the business, the broker said today...
RACQ to withdraw from Queensland CTP scheme
28 June 2023
RACQ Insurance has announced that it is withdrawing from Queensland’s compulsory third party scheme as it’s no longer viable to continue participating...
NSW announces icare board reform
28 June 2023
The NSW Government will appoint an employer and employee nominee to the icare board as part of ongoing efforts to “repair” the state insurer...
INsight podcast: the new price ain’t right
28 June 2023
The Australian Securities and Investments Commission report on insurer pricing promise failures is discussed on the latest episode of the Insurance News podcast.
SIRA responds to CCI workers’ compensation exit
27 June 2023
The NSW workers’ compensation regulator says it has imposed additional licensing conditions on Catholic Church Insurance and will continue to monitor its assets and staffing levels following its decision to cease offering cover...
APRA warns on cyber security as Medibank capital requirement raised
27 June 2023
The prudential regulator has warned about the importance of cyber security, lifting Medibank Private’s capital adequacy requirement by $250 million after reviewing a major breach in October.
Arch appoints Southern Region Senior Underwriter
27 June 2023
Arch Insurance Australia has appointed Katrina Palmer as Senior Underwriter, Executive Assurance, for its Southern Region operations...
Driver wins claim dispute despite undeclared licence suspensions
27 June 2023
A driver who did not divulge the extent of his bad driving record has won a claim dispute because the insurer should have asked more questions...
‘Beyond disappointing’: ASIC condemns pricing discount failings
23 June 2023
The Australian Securities and Investments Commission says a systemic failure by insurers to deliver on pricing promises has seen more than 5.6 million consumers overcharged $815 million for their policies...
Last resort compensation scheme passes Senate
23 June 2023
Legislation for the Compensation Scheme of Last Resort has secured passage in the Senate, clearing the way for the establishment of the Hayne royal commission-backed reform to provide financial redress for consumers...
IAG suggests ‘relocation’ of at-risk Victoria homes
23 June 2023
Insurer IAG has told a Victorian inquiry into the state’s devastating floods last year that high risk communities should consider planned relocation...
Complainants awarded compensation over fire claim delays
23 June 2023
An Australian Financial Complaints Authority decision requires an underwriting agency to pay maximum non-financial compensation and provide a detailed scope of works for a house fire claim after finding that it did not “adequately communicate” with homeowners...
Beauticians lose BI disputes as link to shut-down orders fails
22 June 2023
Beauticians in the Victorian regional city of Bendigo and Melbourne’s Altona Meadows have lost disputes over cover for shut-downs during the pandemic because the State Government orders were not “as a result of” virus outbreaks within 20km of their businesses...
Johns Lyng raises earnings guidance, continues to invest
22 June 2023
Johns Lyng Group will press on with expanding its disaster recovery works capability to keep up with demand from insurance clients and governments...
NZ insurers pay out more than $NZ1 billion for twin climate catastrophes
22 June 2023
A third of the claims for two record-breaking New Zealand weather events have so far been paid out from the estimated $NZ3.18 billion bill...
INsight podcast: new era of mitigation spending begins
22 June 2023
A new era in mitigation funding is discussed by the panel on the latest episode of the Insurance News podcast...
Consumer lobby seeks inquiry into insurance ‘market failure’
21 June 2023
The Australian Consumers Insurance Lobby has asked Assistant Treasurer Stephen Jones to commission a report or inquiry into “market failure in the general insurance sector” as climate change and emerging risks exacerbate affordability and availability challenges...
Covid travel disruption ‘still very much a problem’
21 June 2023
Southern Cross Travel Insurance says covid is still frequently disrupting travel plans and showing up in hundreds of its claims, making up 11% of all payouts across Australia and New Zealand...
Inclusion festival to ‘unlock innovation’
21 June 2023
This year’s Dive In diversity and inclusion festival, to be held September 26-28 worldwide, will focus on the theme Unlocking Innovation: The Power of Inclusion...
Insurer not required to pay more after 'revalued' caravan washed away
21 June 2023
A complainant whose caravan was washed away by floodwaters has lost a challenge to increase his insurance payout above the agreed value on his policy...