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...
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...
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...
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...
05 July 2021
Insurers have outlined motor premium rises of up to 6% as COVID-wary commuters shun public transport...
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...
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...
28 June 2021
The Federal Government’s cyclone reinsurance pool for northern Australia needs an exit strategy, Insurance Council of Australia CEO Andrew Hall told a parliamentary inquiry...
28 June 2021
Solutions to insurance problems faced by companies in the coal sector must be found, as the local fossil fuel remains a key part of the global energy mix and the transition to renewables will take decades, resource industry executives have told a parliamentary inquiry...
28 June 2021
NRMA Insurance received the highest number of severe weather home claims for any autumn this year on Australia’s east coast, and says March-May claims from extreme weather were almost triple the five-year average...
28 June 2021
Zurich-based catastrophe data company Perils has lowered its insured loss estimate for the NSW and Queensland flooding catastrophe in March to $916 million, down from an initial estimate of $1.06 billion last month...
28 June 2021
Credit unions, mutual banks and mutual building societies have stopped selling consumer credit insurance products since September last year, according to the Customer Owned Banking Code Compliance Committee...
28 June 2021
A world-first agreement between New Zealand’s state-owned Earthquake Commission and eight private insurers comes into effect on Wednesday, putting an end to double-handling of natural disaster claims...
21 June 2021
The Australian Competition and Consumer Commission is in contact with the US Department of Justice on Aon’s proposed acquisition of Willis Towers Watson as the deal faces regulatory hurdles...
21 June 2021
The Insurance Council of Australia says about 16,000 claims have been lodged following the Victorian storms, with losses estimated at $144 million as of the end of last week...
21 June 2021
Recovery efforts in Victoria after high winds and torrential rain hit Gippsland, the Yarra Ranges and the Dandenongs last week are being hindered by both access problems for adjusters and a likely shortage of building materials...
21 June 2021
The Federal Government’s decision to rely on a reinsurance pool and a mitigation program is intended to push down premium pressures for cyclone-prone northern Australia. But will it succeed? That depends. Insurance Magazine’s June/July edition examines the long-awaited government initiatives and speaks to key stakeholders about their chances of solving the problems...
21 June 2021
The Insurance Council of New Zealand worked alongside emergency services on Sunday to help answer insurance questions after a tornado ripped through the South Auckland suburb of Papatoetoe on Saturday morning, affecting hundreds of homes...
21 June 2021
Lloyd’s insurers Lancashire Group and Ascot Group will not be providing insurance to the Adani coal mine project in central Queensland, according to climate activists...
21 June 2021
General insurers in New Zealand are likely to record higher gross written premium (GWP) in the next few years, supported by the economy’s post-COVID bounce, according to analytics and consulting firm GlobalData...