QBE data reveals extreme weather impact on schools
14 October 2024
Storms, floods and fires have accounted for more than 78% of school property insurance claims over the past decade, according to data from QBE...
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Warning over ‘NRMA Insurance’ scam emails
14 October 2024
NRMA Insurance has warned of a scam involving an email purportedly from the insurer offering the chance to win a “car emergency kit”...
ICA urges industry to take ‘nature-positive’ action
14 October 2024
The Insurance Council of Australia has championed “nature-positive insurance” as a way of promoting long-term climate resilience...
Strata commission ban risks ‘unintended consequences’
07 October 2024
NSW’s proposed ban on strata insurance commissions could result in small schemes paying more for cover and some strata managers going under, industry sources have warned...
‘Message to the industry’ as AAI penalised for discount failings
07 October 2024
New Zealand’s High Court has imposed a $NZ6.175 million ($5.59 million) penalty on AA Insurance for failing to apply multi-policy and membership discounts and guaranteed no-claims bonuses, and has warned financial services businesses must be held to high standards...
Dunedin ends state of emergency after floods
07 October 2024
New Zealand’s Dunedin City Council has lifted a state of emergency after torrential rain last week caused severe flooding and landslides...
Australia a top performer as insurers climb sustainability rankings
07 October 2024
The financial services sector now scores higher than 11 other industries for its sustainability efforts, Capgemini says...
‘On a knife edge’: banks could act on uninsured homes
30 September 2024
Banks are considering calling in or refusing loans on uninsured homes, risking creating “climate ghettos” across the country, an expert told a Senate inquiry into the impact of climate risk on insurance...
Compliance committee wants ‘better reporting, not more breaches’
30 September 2024
The Insurance Brokers Code Compliance Committee has explained what it expects from the profession after voicing concerns in the past over low or zero breaches from some broking subscribers...
Intermediaries first-half premium receipts exceed $19 billion
30 September 2024
The general insurance intermediated channel placed about $19.9 billion in premium during the first six months of the year, up from $18.8 billion a year earlier...
Weather-driven shipping delays increasing marine risks
30 September 2024
Extreme weather is affecting shipping routes, extending voyage times and increasing risks for insurers, Axa XL marine hull and liabilities underwriter Ben Healey has told this year’s Claims Convention...
Insurer issues bushfire risk warning
30 September 2024
Youi has warned bushfire-prone homeowners to prepare after its research found only half of survey respondents were concerned about the risk...
Court rules against covid BI claims proceeding as class actions
23 September 2024
The Federal Court has ruled against hearing covid-related business interruption claims involving four insurers as class actions, leaving policyholders to pursue cases individually if they want to proceed...
Commissions under fire at Senate hearing
23 September 2024
Broker commissions have been labelled “a bit of a rort” at a Senate inquiry into the impact of climate risk on insurance premiums...
AAMI crash data reveals decade’s worst offenders, hotspots
23 September 2024
Male drivers account for 54% of vehicle accidents, according to an AAMI study of 4.3 million claims from 2014 to last year...
NZ researchers work on volcanic ash model
23 September 2024
New Zealand’s Natural Hazards Commission is funding research that could provide detailed modelling for the impacts of volcanic eruptions...
Lawyers, consumer advocates press for strata action
16 September 2024
Consumer groups are pushing for a national inquiry into the strata management sector and a lawyers’ group has called for tougher state-level regulation following last week’s Four Corners program...
Warning to businesses as cyber breach tally climbs
16 September 2024
There were 527 data breach notifications in Australia in the six months to June, up 9% compared with the preceding half to the highest half-year figure since 2020...
AFCA backs traveller in lost luggage dispute
16 September 2024
A traveller whose luggage was stolen from a bus in Barcelona has won a bid to have her insurer accept her claim...
Webinar to tackle confusion over mutuals and trusts
16 September 2024
Insurance News and Picnic Labs will host a webinar this month examining the risk protection offered by discretionary mutual funds, and how they are sometimes confused with discretionary trusts...