Daily
‘New era’ for resilience investment as $400 million mitigation projects announced
07 June 2023
The Federal Government has announced the list of 187 projects that will receive $200 million from the mitigation-focused Disaster Ready Fund to shore up the country’s defences against future floods, cyclones and other natural perils...
Court backs builder over Atlantis cladding claim notification
07 June 2023
The Federal Court has found against insurers in a dispute over whether they were notified about a possible professional indemnity claim over flammable cladding on the 36-storey Atlantis Towers building in Melbourne, amid wider concerns generated by the Lacrosse fire...
Suncorp deal won’t substantially lessen competition: ANZ
07 June 2023
ANZ CEO Shayne Elliott says Australia’s banking sector is dynamic and competition continues to increase, and its $4.9 billion offer to buy Suncorp Bank should not be blocked by the regulator...
INsight podcast: the demise of Catholic Church Insurance
07 June 2023
The failure of Catholic Church Insurance is the main topic tackled by the panel in the latest edition of the Insurance News podcast...
Bureau of Meteorology moves to El Nino Alert
06 June 2023
The Bureau of Meteorology has issued an El Nino Alert, indicating a higher chance of the type of drier weather and warmer temperatures associated with increased bushfire risk in south eastern Australia...
Insurer fails to prove exclusion applies to earthquake claim
06 June 2023
A homeowner who said an earthquake damaged her property will be covered for repairs after an Australian Financial Complaints Authority ruling found her insurer failed to establish grounds to decline the claim...
Mustard launches personal cyber cover through partnership
06 June 2023
Mustard Underwriting has signed a strategic partnership with leading cloud-based cybersecurity services provider Digimune, enabling it to offer “world class” personal cyber cover to the Australian and wider Asia Pacific market...
Forestry firms protect carbon credits with parametric insurance
06 June 2023
Australian plantation owners are buying parametric insurance to preserve the value of carbon credits as well as counter bushfire risk, Descartes Underwriting says...
‘The year of the raise’: insurance staff should expect pay jump, recruiter says
02 June 2023
Two-thirds of insurance industry employers plan to increase salaries by more than 3% at review time, and almost all intend to offer some increase, a new survey by recruitment firm Hays says...
‘Universally loved’: former Marsh broker dies
02 June 2023
Robert Pasquini, a senior and expert broker who spent 27 years at Marsh, has died after a long battle with cancer...
Policyholder loses dispute after alleging claim denial was 'revenge'
02 June 2023
A vehicle owner who failed to inform his insurer that his car had pre-existing damage has lost his challenge against its decision to cancel his existing policy and reduce its liability for a claim...
Latitude completes Hallmark insurance sale
02 June 2023
Latitude Group Holdings has completed the sale of its Hallmark business to St Andrew’s Insurance Group for $21.3 million...
NZ unveils voluntary buyout scheme for risky properties in cyclone, flood areas
01 June 2023
The New Zealand Government announced today a “voluntary buyout” scheme for Category 3-designated residential properties in cyclone and flood-affected regions, including ones that were affected by Cyclone Gabrielle and the record North Island floods this recent summer...
EQC secures record $8 billion reinsurance, enters cat bond market
01 June 2023
New Zealand’s Toka Tu Ake EQC has increased its reinsurance to a record level, just below $NZ8.2 billion, and has entered the catastrophe bond market for the first time...
Insurer loses wear and tear argument over hail-damaged asbestos roof
01 June 2023
A Brisbane-based homeowner has won a dispute against her insurer to have her asbestos corrugated roof replaced after it was damaged by a hailstorm...
INsight podcast: story behind the APRA stats
01 June 2023
Industry statistics released by the Australian Prudential Regulation Authority – and the story behind them – are the main focus for the panel on the latest episode of the Insurance News podcast...
CCI to engage with staff members in ‘orderly run-off’
31 May 2023
Catholic Church Insurance says it will be engaging with staff on next steps as an orderly run-off process is undertaken following the decision to not provide new insurance policies or renewals...
Hospital pharmacy hit by visitor restrictions loses BI dispute
31 May 2023
A pharmacy located inside a Victorian hospital has lost a battle over a business interruption claim lodged after pandemic restrictions prevented potential customers accessing the store...
CHU joins cyclone reinsurance pool
31 May 2023
Underwriting agency CHU says its strata and build-to-rent portfolios will enter the Federal Government’s cyclone reinsurance pool in July...
Sweet spot: WTW offers sugarcane growers new parametric option
31 May 2023
WTW has launched "unique" parametric insurance for sugarcane farmers in Queensland that covers yield shortfalls caused by reduced application of nitrogen fertiliser, which has doubled in cost in Australia in the past year...