Industry urged to heed climate change warnings
30 September 2019
International insurers could abandon Australia if loss ratios spiral as a result of climate change, an expert has warned...
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Flood cover remains unfinished business for SMEs
30 September 2019
Commercial flood cover in high-risk regions remains an issue for the insurance industry as take-up by businesses remains low, a Suncorp executive says...
IAG renews push for bigger mitigation spend
30 September 2019
IAG has joined the wider industry in calling for increased mitigation funding to deal with northern Australia’s insurance problem. The insurer has had a longstanding position favouring spending more on resilience measures...
Insurers not trusted with data, survey finds
30 September 2019
Customers support increased use of digital technology but don’t trust insurers with their data, a survey by DXC Technology and analyst firm Telsyte has found...
AFCA says bank must pay half for claimant with no cover
30 September 2019
A homeowner who thought she had arranged home cover with her bank but hadn’t will have half her claim paid after a fire, following an Australian Financial Complaints Authority ruling...
Revamped code on track for January
30 September 2019
The latest revision of the General Insurance Code of Practice is on track for a January introduction following a lengthy review period complicated by the Hayne royal commission...
Insurers score well in consumer survey
30 September 2019
RACQ Insurance is the best performing insurer in a KPMG consumer experience survey of 114 Australian and global brands across 11 sectors...
Seeking engagement: How we connect to younger consumers
23 September 2019
Insurers must find ways to engage younger consumers sooner and should look for more creative alternatives for providing cover as the market evolves, an EY report says...
Court ruling could take pressure off premiums
23 September 2019
Motor vehicle insurers have welcomed a NSW Supreme Court ruling that may alleviate rising premium pressures from credit hire companies...
Bushfires update: losses climb to $20 million
23 September 2019
The bushfires catastrophe in NSW and Queensland has so far cost about $20 million in losses, the Insurance Council of Australia says today in an update provided to insuranceNEWS.com.au...
Drought-causing climate conditions persist in Indian Ocean
23 September 2019
Climate conditions in the Indian Ocean associated with lower rainfall and warmer days across much of Australia are forecast to persist during spring...
CCI selling widespread among mutuals
23 September 2019
About 92% of customer-owned banks sell customer credit insurance (CCI), an inquiry by the sector’s code compliance committee has found...
ICA rejects Christensen's intervention plan
23 September 2019
The Insurance Council of Australia has repeated its opposition to government intervention in the north Queensland insurance market after Federal MP George Christensen supported linking insurance licensing to an obligation to provide cover in the region...
AIMS survey highlights industry shift
16 September 2019
Brokers are starting to move business in response to new insurtech offerings, the latest AIMS member survey shows...
IAG, Suncorp ceding ground to 'spectacular' rivals: Macquarie
16 September 2019
New entrants in the home and personal motor lines have hatched a “spectacular” plan built around the broker channel to successfully challenge the dominance of IAG and Suncorp, according to a Macquarie Research report...
Bushfires update: claims exceed 100
16 September 2019
Insurers have so far received about 120 claims from the bushfires in NSW and Queensland...
Climate Index shows autumn temperatures exceed average trends
16 September 2019
Australia’s most recent autumn ranked as the second most extreme in the number of hot days, according to the latest Climate Index readings...
Lloyd’s fights total disablement claim by fast bowler Starc
16 September 2019
Lloyd’s has rejected a claim by Australian fast bowler Mitchell Starc for $1.5 million under a total disablement policy issued by one of its syndicates, denying the cricketer suffered a fracture of his right tibial bone and saying his injury does not meet the policy requirements for payment...
Insurers getting better treatment, says adviser body
16 September 2019
The Association of Financial Advisers has slammed the “double standards” of the Federal Government extending due regulatory process to insurers while denying it to the financial advice sector...
Cyber claims frequency, severity on the rise
16 September 2019
Cyber specialist underwriting agency Emergence Insurance says claims frequency rose 29% and average severity jumped 51% in the past financial year...