Code committee demands improvement on broker breach reporting
05 March 2024
The Insurance Brokers Code Compliance Committee has again told the industry to raise its game on the monitoring and reporting of breaches...
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Sovereign deal helps Mustard spread into personal lines
05 March 2024
Mustard Underwriting and Sovereign Insurance Australia will launch home and contents, landlord and motor products under a new exclusive partnership...
Elderly traveller denied payout after gastro curtails trip
05 March 2024
A traveller who fell ill and returned early from a trip abroad has lost a claims dispute after his insurer argued he was not medically required to end his holiday...
Summer catastrophe losses hit $1.2 billion
05 March 2024
The claims cost of Christmas and New Year floods and Cyclone Jasper has reached $1.2 billion, with 28% of cases already closed, according to the Insurance Council of Australia...
ASIC wins appeal over funeral insurer’s false Indigenous ownership claim
01 March 2024
A funeral insurer misrepresented to Indigenous consumers that the business was owned or managed by Aboriginal people, the Full Federal Court has ruled, overturning an earlier decision...
Insurance among top cyber targets
01 March 2024
Insurance organisations accounted for 9% of 483 reported cyber incidents in the second half of last year, making them the third most targeted industry in Australia...
Parts of NT, WA face increased fire risk
01 March 2024
The Australasian Fire and Emergency Services Authorities Council has released its Seasonal Bushfire Outlook for autumn, with much of the country facing normal fire risk after above average rainfall...
Payout for driver who ‘drank spirits after car crash’
01 March 2024
A driver who crashed his car has won a claim dispute despite recording a blood-alcohol level above the legal limit hours after the accident...
Court agrees lawyer costs in IAG disclosure class action
29 February 2024
The Supreme Court of Victoria has approved a group costs order application by the lead plaintiff in a shareholder class action against IAG over the insurer’s disclosure of potential exposure to covid-related business interruption claims under policies with outdated Quarantine Act wordings...
Suncorp accused of ‘systemic failures’ on motor repairs
29 February 2024
Body repair members of the Victorian Automotive Chamber of Commerce say Suncorp is taking up to five months to return vehicle assessments, leaving policyholders and repairers “in limbo”...
Allianz won’t comment on Hunter sale reports
29 February 2024
Allianz has declined to respond to speculation it is looking to sell its Hunter Premium Funding business...
Insurer wins dispute over flood assessment
29 February 2024
The Australian Financial Complaints Authority has backed Allianz’s decision to increase an NT homeowner’s flood charge by more than $980 despite protests from the policyholder...
Steadfast first-half earnings rise on premium rates, volume
28 February 2024
Steadfast’s underlying net profit after tax rose 17.5% to $106 million in the first half, driven by price and volume growth in broking and underwriting agencies, and as the group continued its acquisition activity...
Butcher wins battle over blackout losses
28 February 2024
A butcher that sought cover for loss of stock and profits after its store lost power has won a dispute over its insurer’s application of a flood exclusion...
Judge shuts down loophole around injured motorcyclist’s drug charge
28 February 2024
A tribunal ruling has been overturned after it stated a motorcyclist was covered for crash injuries despite being found guilty of having illicit drugs in his system while driving...
INsight podcast: cracking the code
28 February 2024
Scrutiny of the insurers' code of practice as a result of the Federal Government's flood inquiry is the main topic of discussion on the latest Insurance News podcast...
‘Unacceptable position’: insurance ranks second for gender pay gap
27 February 2024
Financial services has a gender pay gap of 26% in Australia, topped only by a gap of 32% in construction, data published today shows...
Lawyers seek lion’s share of $650k fall settlement
27 February 2024
A woman who sued Coles after slipping on a supermarket floor stood to receive just $34,800 of a $650,000 settlement after two law firms she engaged staked claims to more than $490,000...
Johns Lyng lifts outlook as insurance work builds confidence
27 February 2024
Johns Lyng Group expects its core insurance building and restoration services business to perform well this year after a strong first half, and has raised its earnings guidance...
Claimant wins stolen watch payout despite insurer’s doubts
27 February 2024
A woman who claimed for a $30,500 watch stolen from her sister-in-law’s car has had her insurer’s decision to decline a payout overturned after a dispute ruling found the circumstances of the loss were credible...