Daily
'Near miss': APRA calls out weaknesses after BI wording lapse
30 August 2022
The prudential regulator has flagged concerns over poor risk management after a review of general insurers found many “identified significant weaknesses in how they managed their insurance risk exposures”...
Landlords lose dispute over vacant property fire
30 August 2022
The owners of an unoccupied home that sustained severe fire damage will not have their claim paid after a dispute ruling determined that their insurer was entitled to decline it...
Zurich's Hilary Bates joins ANZIIF board
30 August 2022
Zurich Financial Services Australia’s local COO Hilary Bates has joined the board of directors at the Australian and New Zealand Institute of Insurance and Finance...
Suncorp, Marsh lead winners list at ANZIIF awards
26 August 2022
Suncorp and Marsh have taken top gongs at this year’s Australian Insurance Industry Awards...
Answers still needed on cyclone pool: RACQ Insurance
26 August 2022
Queensland's RACQ Insurance says questions remain to be answered before it can join the government-backed cyclone pool, with clarity needed soon as it prepares to renew its own reinsurance arrangements...
Johns Lyng ups stake in Bright & Duggan
26 August 2022
Johns Lyng Group has raised its equity interest in Bright & Duggan to become the largest shareholder in the Sydney-headquartered strata and facilities management business...
'Unreasonable delay': business compensated for lengthy excavator repairs
26 August 2022
A complainant who lodged a claim for a damaged excavator will be compensated after a dispute ruling determined the insurer took an unreasonable amount of time to complete the repairs...
Industry rides on premium increases to eke out 0.3% profit rise
25 August 2022
General insurers in Australia managed to achieve a 0.3% rise in combined net profit after tax to $924 million in the year to June 30, as rate hikes across most product classes blunted the impact of the NSW/Queensland flood claims and investment losses, prudential data released today shows...
Insurer climate risk responses 'significant for society'
25 August 2022
Insurer decisions to reduce coverage due to climate change risks could have “significant implications for society, the economy and the financial system”, Reserve Bank of Australia (RBA) Head of Domestic Markets Jonathan Kearns says...
'Biggest trauma': claimants lash out over insurer processes
25 August 2022
Melbourne academics who interviewed 30 policyholders undertaking legal advice over their claims outcomes say “arduous and confusing” insurer handling processes may not comply with the industry code of practice...
Unvaccinated travellers lose dispute over cover denial
25 August 2022
A traveller who lodged a claim after she was not allowed to board her booked flight and mandated to complete a 14-day quarantine because of her covid vaccination status has lost an appeal to overturn her insurer’s decision to deny coverage...
AUB earnings rise, momentum continues
24 August 2022
AUB Group earnings have jumped following a strong rise in profit from Australian broking and expansion of the agencies business, as the company looks toward the completion of its major UK Tysers acquisition...
PSC earnings race ahead of guidance, acquisition focus shifts
24 August 2022
PSC Insurance Group achieved better-than-expected earnings in the last financial year, driven by strong organic growth and past acquisitions performing ahead of plan...
AFAC cautions looming bushfire threat in NT and WA
24 August 2022
The Australasian Fire and Emergency Services Authorities Council’s Seasonal Bushfire Outlook for spring has warned that parts of central Australia and northern WA are expected to experience a higher bushfire risk in the upcoming months...
INsight podcast: unaffordable home insurance and how to fix it
24 August 2022
The Actuaries Institute report on home insurance affordability is the main discussion point in the latest episode of the Insurance News podcast...
Simplicity needed after pricing refund issues: RACQ
23 August 2022
RACQ says increasing complexity has contributed to pricing promise issues and it has embarked on a simplification program to prevent a repeat of failings that will see the insurer refunding around $200 million...
AMA Group rejects profitless repair work as costs rise
23 August 2022
Collision repairer AMA Group says insurer partners have mostly recognised the need to improve pricing, amid shortages of labour and rising costs for vehicle parts and other products, while it has exited some contracts that have remained inadequate as it rejects “profitless work”...
Marsh launches hydrogen projects facility
23 August 2022
Broker Marsh has launched a facility specifically for insuring hydrogen projects, in response to growing global investment in clean energy sources...
Claimant denied cover for 'deliberate' late-night crash
23 August 2022
A driver who wrecked his car in a single vehicle accident has lost his appeal to overturn his insurer's decision to deny his claim...
Flood victims start heading home after 'worst ever' event
19 August 2022
Suncorp says customers who suffered major damage in the NSW/Queensland flood catastrophe are starting to return to their repaired homes...