Daily
$100,000 payments for significant code breaches 'being finalised'
06 April 2022
Insurers responsible for significant breaches of the General Insurance Code of Practice can face a financial sanction of up to $100,000 – but the way in which these payments operate is still being finalised...
Vintage Jaguar driver wins balance of $130,048 payout
06 April 2022
The owner of a 1968 Jaguar E-Type two-door Roadster has won a claim dispute over a shortfall of $60,471 in his insurance payout for repairs to the vintage car...
Climate disclosure obligations bring risk for directors: WTW report
06 April 2022
Company directors in Australia and key Western economies such as the UK face potential liabilities in relation to climate change risk disclosure obligations, according to global brokerage WTW...
Brokers go ‘above and beyond’ for clients hit by pandemic, disasters
05 April 2022
Brokers went to extra lengths to help affected clients manage the financial impact arising from the pandemic, Black Summer bushfires and other natural disasters, according to an Insurance Brokers Code Compliance Committee report released today...
Tokio Marine says Greensill policies void
05 April 2022
Tokio Marine says its “extensive investigations” have determined that Greensill policies written by Australian subsidiary BCC Trade Credit are not valid due to the insured’s misrepresentations and duty of disclosure breaches...
Homebuyers lose dispute after inspection misses hail damage
05 April 2022
New homeowners have lost a claim dispute after a pre-purchase inspection failed to mention pitting over their entire roof, caused by hail stones the size of tennis balls striking the area six months earlier...
NSW flood inquiry submissions open amid recovery
05 April 2022
The NSW Government says the submissions period has opened for its six-month independent review into the state’s flooding, with the review scheduled to deliver reports by the end of June and September...
ANZIIF Australian insurance awards set for 'in person' return
01 April 2022
This year’s Australian Insurance Industry Awards will be held with guests in physical attendance for the first time since 2019, following covid disruptions last year and 2020, the Australian and New Zealand Institute of Insurance and Finance announced today...
Passenger loses dispute over knowledge of husband's inebriation
01 April 2022
An Allianz customer has lost a claim dispute after her husband consumed six pints of beer and two cans of vodka before turning a corner late on a dark and wet Friday night, sliding and hitting a telegraph pole...
APRA names new insurance executive director
01 April 2022
The Australian Prudential Regulation Authority has appointed Sean Carmody as Executive Director, Insurance, taking over from Brandon Khoo...
Zurich lops 20 years off its net zero target date
01 April 2022
Zurich has brought forward a target to achieve net-zero emissions in its operations by two decades to 2030 and partnered with Perth-based InterEarth on CO2 removal...
Time to release cyclone pool pricing: ICA
31 March 2022
Cyclone reinsurance pool pricing must be released as soon as possible to give the industry time to factor in costs and to provide visibility to policyholders on premium reductions, the Insurance Council of Australia said today following the passage of the legislation through the Senate...
Trowbridge strata review targets 'opaque' disclosure
31 March 2022
Strata insurance is convoluted and property owners face a lack of transparency around commissions received by their management companies and fees paid to brokers, a consultation paper that’s part of a Steadfast-commissioned independent review says...
Man who crashed into childcare centre during protest loses dispute
31 March 2022
A Holden driver who failed to see a concrete divider after being persuaded to abandon a nighttime protest he was staging at his daughter’s childcare centre has lost a claim dispute with his insurer...
Suburb named Paradise at most risk from climate change
31 March 2022
Queensland’s Paradise Point is Australia’s suburb with most property value at risk from the effects of climate change on the nation’s coast, with NSW’s Cronulla and Manly, and Victoria’s Port Melbourne and Aspendale rounding out the top five...
Parts of NSW inundated again as rough weather strikes
30 March 2022
Evacuations are underway in flood-affected parts of NSW, including Lismore, after a low-pressure system inflicted another round of heavy rain, storms and wind on the state’s battered communities...
Budget disaster resilience spending 'falls short'
30 March 2022
The Federal Budget has disappointed insurers on the level of resilience and mitigation spending as the Queensland and NSW flooding catastrophe highlights the long-term cost of natural disasters...
Cyclone pool expansion possible after future review: Labor
30 March 2022
Labor would consider expanding the cyclone reinsurance pool’s scope to include floods more widely as part of a future review but would not hold up the passage of legislation to make the change, Senator Jenny McAllister told Parliament today...
INsight podcast: getting ahead on cyber
30 March 2022
The Insurance Council's paper on cyber insurance and the many issues it faces is the main topic of discussion on the latest Insurance News podcast...
'Last thing we need': flood recovery hampered by more wild weather
29 March 2022
The Insurance Council of Australia says at least 14 recovery centres, including Lismore and Mullumbimby in NSW, have closed in the past 24 hours to ensure the safety of staff and community members as more rough weather hits...