Daily
Reinsurance pools 'no panacea' for rising claim costs: S&P
13 September 2022
Rising catastrophe costs are likely to increase collaboration between policymakers and reinsurers, but government-backed risk management pools are a “useful patch” and not a panacea, S&P Global Ratings says...
Lost luggage, flight cancellation claims surge
13 September 2022
Allianz Partners is highlighting the importance of travel insurance ahead of the September school holidays after a surge in claims due to flight cancellations and lost or delayed baggage, especially for domestic travel...
'Don't speculate': insurer loses dispute after denying motor claim
13 September 2022
The owner of a 2016 Nissan X-Trail will be compensated for water damage to her car after winning a claims dispute...
Lloyd's rings Lutine Bell in memory of Queen Elizabeth II
09 September 2022
Lloyd’s has rung the historic Lutine Bell in honour of Queen Elizabeth II, who has died at the age of 96 after becoming Britain’s longest-reigning monarch...
'Find another way': ICA intensifies calls to abolish insurance taxes
09 September 2022
The Insurance Council of Australia has repeated its call for states and territories to abolish taxes and levies on insurance...
Inflation pressures biting as risk awareness rises
09 September 2022
The post-pandemic environment has seen risk awareness rising at the same time as increasing inflation is escalating costs for underwriters and increasing pressure on insurance buyers having to absorb higher prices, Swiss Re Asia Chief Economist John Zhu says...
'A bit suss': claimant loses dispute over alleged jewellery theft
09 September 2022
A man who had his claim denied after he alleged thieves entered his home and stole $117,000 worth of jewellery has lost his bid to overturn the decision after a dispute ruling said he failed to establish he suffered a loss...
AFCA receives more than 900 floods complaints, expands team
08 September 2022
The Australian Financial Complaints Authority has received around 950 complaints from consumers affected by the Southeast Queensland and northern NSW floods, with claim handling delays the most common cause of dispute...
'Critical point': insurers fear next flood as La Nina looms
08 September 2022
Insurers are “trepidatious” about what the upcoming summer holds as they continue to battle through more than 230,000 claims from the east coast flood catastrophe earlier in the year...
AUB launches strata expansion with SUU acquisition
08 September 2022
AUB Group has agreed to acquire Strata Unit Underwriters from IAG for an undisclosed sum as it looks to boost its presence in the market...
Last resort compensation scheme bill introduced as Treasury consultation opens
08 September 2022
Treasury today released for consultation the exposure draft regulations for the planned compensation scheme of last resort after the introduction of the legislation in parliament this morning...
FM Global announces regional leadership shake-up
07 September 2022
FM Global says James Thompson has been appointed Senior VP APAC Division Manager with responsibility for the oversight of all the US mutual insurer’s operations in the Asia Pacific, taking over from Ziad Alex S. Tadmoury...
Disaster resilience funding bill enters Parliament
07 September 2022
The Federal Government has introduced a bill into Parliament to provide up to $200 million a year for disaster resilience, after committing before the election to a spending boost long sought by insurers...
Car owner who purchased cover after fire loses dispute
07 September 2022
A complainant has lost her claims dispute after it was revealed she bought her policy minutes after her car was set on fire...
INsight podcast: personal advice, general advice, and what to do next
07 September 2022
A detailed discussion about the Quality of Advice review takes place in the latest episode of the Insurance News podcast, now that the panel has had time to read the interim report...
Insurers face underwriting 'squeeze' from inflation: Fitch
06 September 2022
Fitch Ratings says insurers’ underwriting earnings over the next few years are likely to weaken in the face of “persistent” inflation, pointing out increasing premium rates to offset rising claims costs will be difficult in a slowing economy...
BI court case delivers win for Lloyd's underwriters
06 September 2022
Lloyd’s underwriters have won a business interruption court case affirming that a policy issued to a fitness centre excluded cover for covid disruptions despite wordings citing the repealed Quarantine Act...
Insured challenges premium rise that followed 'at fault' pothole claim
06 September 2022
A complainant whose comprehensive car insurance policy premium rose significantly on renewal, partly due to an "at fault" claim after he hit a pothole, has lost his bid to have the increase reversed by the Australian Financial Complaints Authority...
AILA crowns 2022 Ron Shorter award winner
06 September 2022
Jackson McDonald Solicitor Charlotte Hall has won this year’s Australian Insurance Law Association’s Ron Shorter award, a public speaking prize for young professionals in the insurance industry...
Dual Asia Pacific names Deputy CEO
02 September 2022
Underwriting agency Dual Asia Pacific has appointed Michael Ussher as Deputy CEO and Jane Cullen as Chief Information Officer, effective October 1...