Bushfire losses batter the industry's profitability
23 March 2020
Claims losses from the bushfire catastrophe could dent industry profitability by 0.4 percentage points to 12.3% this financial year, research consultancy Ibisworld says in a report...
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Insurers urged to pause before pursuing court action
23 March 2020
Insurers should consider industry implications before "rolling the dice" and pursuing legal cases to determine particular points...
Insurer told to pay landlord's claim for meth contamination
23 March 2020
The Australian Financial Complaints Authority has ruled Suncorp has no grounds to decline a claim for damage to a property caused by methamphetamine contamination...
Tribunal backs release of blood alcohol test result
23 March 2020
The NSW Civil and Administrative Tribunal has backed the release of a blood alcohol test result to be used in an insurance claim over a boating accident...
Industry ramps up response to first pandemic catastrophe
16 March 2020
The Insurance Council of Australia has declared the coronavirus pandemic a catastrophe, escalating the industry’s response to the worsening spread of the COVID-19 respiratory illness in the country...
Slowing economy poses broker challenge: Vero
16 March 2020
The slowing economy will pose fresh challenges to brokers as clients seek to reduce costs, the annual Vero SME insurance Index says...
Brokers at the forefront of new M&A deals: Deloitte
16 March 2020
Insurance mergers and acquisitions in Australia are likely to get a post-royal commission bump this year, with insurance brokerages likely to continue consolidating and the insurance subsidiaries of banks poised to become divestment candidates...
PI issues highlighted as Landmark policies near expiry
16 March 2020
Building surveyors and certifiers who were covered by London-based Landmark last year are now having to find alternative professional indemnity cover as renewals fall due...
Bushfire emissions matched a year of global air travel
16 March 2020
Australia’s catastrophic summer bushfires spewed around 900 million tonnes of carbon dioxide into the atmosphere – roughly the equivalent of a year’s worth of emissions from commercial aircraft worldwide...
Expect more bushfire-friendly weather systems, researchers warn
16 March 2020
New research has found a weather phenomenon that helped cause the recent horror bushfire season is becoming more frequent and more severe...
Suncorp makes case for CTP reform in Queensland
16 March 2020
Suncorp has again called for changes to Queensland’s at-fault compulsory third party scheme, saying the present setup does not ensure that people injured in a motor accident are covered...
NZ insurers reject push for government pandemic guarantee
16 March 2020
The Insurance Council of New Zealand has rejected a suggestion that the government underwrite insurance for business interruption losses caused by the coronavirus outbreak...
New public campaign planned as vehicle theft surges
16 March 2020
The National Motor Vehicle Theft Reduction Council is working on a new public campaign after a 9% rise in the number of vehicles stolen last year...
Suncorp CEO turns up heat on bushfire reform, mitigation
09 March 2020
Suncorp CEO Steve Johnston has demanded that “science and reality” guide post-bushfire reform, rather than ideology or "partisanship"…
Climate change 'worsens bushfire risk by 30%'
09 March 2020
Bushfire risk in Australia has increased by at least 30% because of climate change, a group of scientists has concluded in a new study after analysing this season’s fire catastrophe…
Industry scores poorly on social risk management survey
09 March 2020
An overwhelming 83% of insurance executives believe the industry falls “well short” in the area of social capital risk management, a survey by actuarial firm Finity has found…
Premium funder launches broker support campaign
09 March 2020
Brokers have welcomed a support campaign launched by a leading premium funder to highlight the value provided by intermediaries…
Insurers can’t be translators, AFCA says
09 March 2020
The Australian Financial Complaints Authority has determined it is not the responsibility of an insurance provider to ensure customers with little fluency in English understand the wording of policies…
Aon calls for innovative D&O answers
09 March 2020
Aon says non-traditional and alternative solutions may need to be increasingly explored as conditions in the directors’ and officers’ insurance market remain challenging in Australia and overseas…
Cladding class actions expand claims against manufacturers
09 March 2020
Property owners involved in two class actions against cladding product makers will now also seek damages for false or misleading representations, litigation funder IMF Bentham says…