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PI turmoil set to persist, says Aon

19 August 2019

Securing professional indemnity cover will remain tough for building certifiers and other high-risk professionals as insurers look to cut their losses, according to an Aon report...

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Revised code ‘will help with Hayne transformation’

19 August 2019

The General Insurance Code of Practice will be a crucial tool in helping the industry embed Hayne royal commission reforms, the Insurance Council of Australia says...

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ICA pushes for flood data access

19 August 2019

Access to local government flood data for Moreton Bay Regional Council and the City of Gold Coast would allow for more accurate pricing of premiums in the two Queensland precincts, the Insurance Council of Australia says...

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Local company paves way as Australia-based Lloyd’s broker

19 August 2019

Lloyd’s has welcomed Wickshire as the market’s first Australian-based registered broker as rising technological uptake makes it easier to transact business from global locations...

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Cost of fixing nation’s apartment crisis ‘in the billions’

19 August 2019

New research estimates that fixing defects in apartment buildings constructed in the last decade will cost $6.2 billion...

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Insurers seek building faults transparency

19 August 2019

Calculating potential underwriting losses from poor construction remains impossible as governments prove reluctant to share information on building issues, Insurance Council of Australia Head of Risk and Operations Karl Sullivan has told a NSW parliamentary inquiry...

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Radio Rentals class action affirms disclosure trend: Allens

19 August 2019

A recent Federal Court of Australia order in the Radio Rentals class action indicates insurers are increasingly going to have to disclose details of their clients’ insurance policies, law firm Allens says...

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Townsville property insurance losses estimate now $1.22 billion

19 August 2019

Industry losses on property insurance from Townsville’s summer flood, which began on Australia Day, have reached $1.22 billion, according to Swiss modeller Perils estimates...

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Bank wins appeal over indemnity claim

19 August 2019

The Bank of Queensland has won in its legal appeal to make an indemnity claim from its civil liability policy...

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QC says insurers cutting defamation insurance capacity

19 August 2019

Anecdotal evidence suggests that insurers are reducing their capacity and availability for defamation cover amid an “explosion” in lawsuit damages, Victorian barrister David Gilbertson QC says...

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Canterbury claims agency misled couple: NZ court

19 August 2019

The New Zealand High Court has ruled that Southern Response engaged in misleading and deceptive conduct in its handling of a Canterbury quake claim...

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