Lockdown support measures available for affected customers: insurers
26 July 2021
A range of support measures such as temporary premium relief plans is in place to support customers through the latest COVID lockdowns, major insurers say...
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'Above-trend' growth projected for Australia P&C lines
19 July 2021
Property and casualty premium in Australia is projected to increase 4.7% in real terms this year, as the market bounces back strongly from the 1.4% growth it recorded last year, Swiss Re says...
UK points to hurdles for BI test case: law firm
19 July 2021
Business interruption court decisions in the UK and South Africa related to the COVID-19 pandemic point to uphill battles for Australian insurers in their second test case, legal firm HFW has highlighted...
Australia must adopt 'stringent' emission targets: Zurich
19 July 2021
Australia’s leaders need to adopt stringent carbon dioxide emission reduction targets as part of its long-term adaptation to longer and more severe bushfire seasons, Zurich says...
NZ South Island hit by flooding, recovery to take time
19 July 2021
The Insurance Council of New Zealand says the recovery process after severe South Island flooding on the weekend may take some time, as assessors wait for affected areas to become accessible...
WA Arson Squad charges man over Perth bushfires
19 July 2021
WA Arson Squad detectives have charged a 40-year-old man in relation to bushfires near Perth earlier this year that were declared an insurance catastrophe...
Hearing set for business interruption test cases
12 July 2021
The Federal Court will hear the Insurance Council of Australia second test case on business interruption cover, along with a related QBE matter, in a hearing scheduled for August 30 to September 8...
Consumer advocate calls out insurers' failings following extreme weather events
12 July 2021
The Financial Rights Legal Centre has released a report highlighting a list of insurance issues faced by consumers who were affected by extreme weather events in the 18-month period to April...
Former AFA head appointed NIBA CEO
12 July 2021
Former Association of Financial Advisers CEO Philip Kewin has been appointed to the top executive role at the National Insurance Brokers Association...
ACCC raises alert over remote access scams
12 July 2021
The Australian Competition and Consumer Commission has raised the alarm over so-called remote access scams, in which consumers are duped into installing computer software, giving fraudsters access to their devices...
Funding gap threatens consumer group's insurance support service
12 July 2021
Consumer advocacy group the Financial Rights Legal Centre says the operating hours of its Insurance Law Service may have to be reduced because of a lack of funding...
Indicator tips toward wet weather outlook
12 July 2021
A negative Indian Ocean Dipole, one of the drivers of wetter weather in parts of Australia, is set to form this year potentially increasing the risk of floods and thunderstorms while also having implications for the bushfire season...
Rates rise in Australia’s reinsurance renewals
05 July 2021
Australian mid-year reinsurance property renewals have seen rate increases of 10-25% where catastrophe losses have been experienced, while the global market seems to be moving towards an equilibrium on terms and conditions, Willis Re says...
Revised code opens new chapter for industry
05 July 2021
The general insurance industry’s revamped code of practice came into effect last week, with subscribers facing harsher sanctions including penalties of up to $100,000 if they commit significant breaches...
Legal firm files two BI class actions, looks at more
05 July 2021
Plaintiff law firm Gordon Legal has filed two class actions over business interruption claims declined by QBE and Lloyd’s, and says it is investigating actions against other insurers as well...
ICA welcomes vaccine indemnity announcement
05 July 2021
The Insurance Council of Australia has welcomed the Federal Government’s announcement of a professional indemnity scheme for healthcare practitioners administering COVID-19 vaccines...
Power station fire threatens to trip energy insurers
05 July 2021
A major power station loss in Australia and another incident in the US are likely to wipe out what was expected to be an improved annual loss record in the international power market, Willis Towers Watson says...
Insurers explain rising motor premiums
05 July 2021
Insurers have outlined motor premium rises of up to 6% as COVID-wary commuters shun public transport...
Johns Lyng appointed for Victorian storms clean-up
05 July 2021
Johns Lyng Group has been contracted by the Victorian Government to provide clean-up and make-safe works on private properties damaged by storms declared an insurance catastrophe...
ICA encourages BI claims, but 'further clarity' needed
28 June 2021
The Insurance Council of Australia is urging small businesses to submit a claim if they believe they have business interruption cover for COVID-19 lockdowns, following Friday’s test case defeat in the High Court...