Insurers say wear and tear criticism is ‘priority’ area
24 July 2023
The Insurance Council of Australia and its insurer members have identified use of wear and tear exclusions in home claims as a priority area for focus...
Local
Combustible cladding owners win bid to have insurer joined to case
24 July 2023
Owners of two high rise residential buildings covered in flammable cladding have won a court bid to have insurer AAI Insurance, trading as Vero Insurance, included as a party in their damages case...
Householders, motor claims rise: APRA data
24 July 2023
The Australian Prudential Regulation Authority has released its annual general insurance claims development data for long-tail, short-tail, other direct classes and reinsurance...
NRMA Insurance backs the small end of town
24 July 2023
NRMA Insurance has teamed with research organisation, the McKell Institute, to help shape the future of the growing microbusiness sector...
Dive In reveals 2023 local events line up
24 July 2023
Local event details for the 2023 Dive In festival, to be held from September 26-28, are almost all locked in and have been shared with insuranceNEWS.com.au...
Consumer group criticises NIBA for code change on disclosure
17 July 2023
A consumer group has criticised the National Insurance Brokers Association for “winding back commitments” on disclosure of commissions...
Insurer cleared of liability for security guard’s misuse of gun
17 July 2023
An armed security guard whose offsider pointed a loaded gun at his face has failed in a claim against his employer for damages sustained in the course of his job...
El Nino return unlikely to bring ‘Black Summer all over again’
17 July 2023
Australia is "staring down the barrel” of a potentially extreme El Nino and positive Indian Ocean Dipole, yet this will not necessarily bring a repeat of the record bushfires that devastated the east coast a few years ago...
Insureds win dispute over bath tap leak
17 July 2023
Homeowners who claimed for water damage caused by a leaking bath tap have won their dispute after an Australian Financial Complaints Authority decision found their insurer could not rely on policy exclusions to decline the claim...
Premiums likely to rise another 10% in 2024: KPMG
10 July 2023
KPMG says it “sees no reason” not to expect another 10% rise in premiums next year across the industry, and in particular for home and motor policies...
ICA reveals latest catastrophe loss data
10 July 2023
The Insurance Council of Australia has released the latest set of catastrophe claims data, with last year’s February and March floods in NSW and Queensland nearing the $6 billion mark...
Customer fails to prove bank sold policy without her knowledge
10 July 2023
A woman who claims she was signed up for loan protection insurance without her knowledge has failed to win a refund...
Multi-pronged approach needed to tackle climate emergency
10 July 2023
The challenge of more frequent and increasingly erratic extreme weather events, and the impacts on the insurance industry, will be addressed in a key panel session at next month’s World Insurance Congress in Australia...
Smarter workplaces could stem rising compo claims
10 July 2023
One in five health and social assistance care workers say they are suffering from work related burnout, updated research funded by Insurance and Care NSW reveals...
GB lists tips for insurers to combat inflation
10 July 2023
Gallagher Bassett has outlined how insurers can speed policy reinstatement to combat inflation...
Court hits IAG with $40 million pricing promises penalty
03 July 2023
The Australian Securities Investments Commission has called on insurers to do better after IAG undertook to contact customers caught up in the discount controversy to advise them of a Federal Court judgment on Friday...
Cyclone pool has eased pressure at mid-year renewals: Aon
03 July 2023
Property catastrophe rate pressures eased at the mid-year renewals, and the new northern Australia cyclone reinsurance pool can take some of the credit, global broker Aon says...
Travellers unpack concerns about costly premiums
03 July 2023
Some holidaymakers say they won’t be packing travel insurance due to the rising costs of premiums since the pandemic, according to a survey by a comparison website...
‘You would never not set a financial target’: Allianz backs D&I quotas
03 July 2023
Fixed quotas ensuring the hiring of more diverse teams are to be encouraged as they help insurers gauge progress and hold management accountable...
Vehicle tech adding to rising repair costs: Finity
03 July 2023
A sharp rise in motor repair costs is partly due to higher energy, materials and labour costs, though a key and more permanent factor is the rapid advance in technology of modern motor vehicles, repair management firm AAMC says...