Daily
Specialty, international fuel Ardonagh growth
19 August 2022
Ardonagh Group half-year earnings increased as growth in the specialty and international divisions was underpinned by acquisitions and the performance of existing operations...
Ute owner wins car park collision dispute
19 August 2022
A driver who collided with a vehicle in a club car park and then left the scene will have his claim paid after a dispute ruling found that his insurer was not entitled to deny it...
IAG says hazard-prone NZ needs to act on flood risks
19 August 2022
IAG New Zealand says “specific, targeted and urgent” steps are needed to reduce flooding risks faced by exposed communities, as severe weather hitting the country this week triggers landslides and causes rivers to overflow...
Greater cross subsidisation could boost cyclone pool: ACIL
18 August 2022
The Federal Government should consider cross subsidisation between regions around the country as part of measures to drive premium savings from the cyclone reinsurance pool to the levels needed to assist policyholders, the Australian Consumers Insurance Lobby says...
Rain hitting NZ this week is significant claim event: ICNZ
18 August 2022
Major rainfall currently soaking much of New Zealand’s South Island and the top of the North Island, forcing hundreds of residents to evacuate, will be a significant claims event, the Insurance Council of New Zealand says..
Cyber insurer warns regulators will act on inadequate security
18 August 2022
Businesses have been advised to ensure they have appropriate cyber protection measures as regulators look to adopt a more aggressive approach to enforcement...
Financial lines market in state of change
18 August 2022
Financial lines underwriters are likely to remain cautious in areas such as directors’ and officers’ and construction, while cyber breaches are on the rise and the threats are evolving, Australasian Professional Indemnity Group National President Mitchell Spurr says...
Steadfast revenue tops $1 billion, says IBA deal ‘enhances’ earnings potential
17 August 2022
Steadfast Group says its $301 million acquisition of Insurance Brands Australia will strengthen its broking network as the business aims to build on its strong earnings results...
NSW floods inquiry proposes major resilience reforms
17 August 2022
An independent inquiry requested by the NSW Government into this year’s catastrophic floods has recommended land-use planning reforms and the creation of a new authority to drive mitigation and risk reduction...
Most vulnerable spend 14% of income on home insurance
17 August 2022
A million Australian households spend more than a month’s gross income on home insurance and the Actuaries Institute says state stamp duty and levies should be scrapped in favour of “more equitable and efficient” sources of revenue...
INsight podcast: reinsurance in focus ahead of Rendez-Vous return
17 August 2022
Trends in reinsurance and some familiar influences on company financial results are discussed in the latest Insurance News podcast...
Flood fears increase as likelihood of rare triple-dip La Nina rises
16 August 2022
The Bureau of Meteorology has today issued a La Nina alert, meaning there’s now a 70% chance that the flood-inducing climate driver will develop this year...
ASIC grants relief for business insurance with retail component
16 August 2022
Insurers and brokers who offer retail cover as part of bundled commercial insurance contracts have been granted temporary regulatory relief exempting them from certain retail client obligations as set out in the Corporations Act, the corporate regulator announced today...
Insurer CEO announces upcoming retirement
16 August 2022
The board of directors at New Zealand’s AA Insurance will recruit a new CEO ahead of the retirement of Chris Curtin in December after 28 years in the top role...
Pet owner loses dispute over hiked premiums
16 August 2022
A complainant who sought to have his pet insurance premium reduced after his insurer raised prices by more than 40% has lost his dispute...
IAG has 'good handle' on inflation challenge: CEO
12 August 2022
IAG CEO Nick Hawkins says the business has a “good handle” on countering the inflation challenge as the insurer today provided more details of its results for the 2021/22 financial year, after releasing preliminary figures last month...
Significant code breaches jump after ASIC-triggered reviews
12 August 2022
Significant breaches of the General Insurance Code of Practice have risen 70% in the past financial year, partly reflecting pricing reviews, an Australian Financial Complaints Authority forum heard today...
Auto & General appoints new Australia CEO
12 August 2022
Auto & General has appointed Adam Crane, formerly the head of ME Bank, as its CEO Insurance Australia from next month...
Theft victims win dispute over key left near stolen vehicle
12 August 2022
The owners of a stolen 2016 Audi Q7 will have their claim paid after a dispute body overruled their insurer, which had denied the claim arguing the complainants left a key within the “immediate vicinity” of the car at the time of the theft...
QBE half-year profit declines, GWP jumps as rates rise
11 August 2022
QBE half-year net profit declined 66% as investment market volatility hit the bottom line, while the company benefitted from a surge in gross written premium underpinned by rate increases...