27 March 2024
The total cost of a Baltimore bridge collapse and associated claims could run into the billions of dollars and add to challenges in the reinsurance market, AM Best said today...
27 March 2024
The Albanese Government introduced a bill in parliament today to implement the first phase of its response to the Quality of Advice Review final report, after consultations on proposed draft legislation wrapped up last December...
27 March 2024
About 90% of insurers in Australia have either implemented or are in the process of introducing chatbots or generative AI for claims resolutions, and 98% anticipate improved speed and efficiency, Gallagher Bassett’s annual survey says...
27 March 2024
A traveller who called off his holiday to be with his dying father will not be covered for his losses after a dispute body accepted that his insurer had fairly applied exclusions...
26 March 2024
Sydney jeweller Michel Germani will plead not guilty to allegations that he helped plan and coordinate a staged armed robbery at his Hilton Hotel store in Sydney’s CBD in January last year in an attempt to defraud an insurer...
26 March 2024
Global reinsurance broker Guy Carpenter has appointed Ben Savill as CEO of Pacific to lead and manage its broking operations in Australia and the region, effective April 1...
26 March 2024
Strata Community Association Australasia will fast-track the mandatory introduction of improved insurance disclosure practices and has outlined measures to address complaints and conflicts of interest...
26 March 2024
A vehicle owner has won his bid to overturn a claim denial after a dispute ruling found the insurer hadn’t shown he had not knowingly made a misrepresentation about a fitted refrigeration unit...
22 March 2024
The Federal Court has ruled a contract term in Auto & General home and contents policies requiring customers to notify the insurer of any changes to insured properties is not unfair...
22 March 2024
Industry consultant John Trowbridge says home insurers should move towards offering total replacement policies to tackle “systemic” underinsurance...
22 March 2024
Apartment owner groups have joined with the Australian Consumers Insurance Lobby in calling for national and NSW regulators to start a “thorough investigation” into the practices of strata management firm Netstrata and its associated entities...
22 March 2024
The owner of a wellness business that was overwhelmed with water and mould damage will be partially covered for her losses after winning a dispute against her insurer’s application of a flood exclusion...
21 March 2024
Suncorp and IAG-owned NRMA Insurance will offer premium discounts to home policyholders who use a self-assessment app to improve their bushfire risk...
21 March 2024
Strata management company Netstrata says it will ask NSW Fair Trading to conduct a review of its practices after an ABC report highlighted excessive insurance fees paid by apartment owners...
21 March 2024
A joint homeowner will be entitled to payment for damage to her property after she successfully challenged her insurer’s decision to pay a claim settlement solely to her ex-husband...
21 March 2024
The incoming CEO of the National Insurance Brokers Association is the first item of discussion on the latest Insurance News podcast...
20 March 2024
The Australian Consumers Insurance Lobby says it’s seeking information directly from individuals, businesses and industry insiders on their strata sector experiences after the group received “overwhelming" feedback from its exposure of questionable practices...
20 March 2024
Latest climate indicators show the ongoing El Nino event continues to weaken and should fade completely by the end of next month, the Bureau of Meteorology says...
20 March 2024
The Australian Financial Complaints Authority has required RACQ Insurance to increase its liability to a homeowner beyond its sum insured after it found the insurer’s inadequate repairs contributed to mould damage...
20 March 2024
University of Waikato experts are working on a new model to incorporate natural hazard science into city planning...