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Cladding crisis sparks PI exclusions, premium rises

23 July 2018

Building surveyors have been hit with professional indemnity policy exclusions and premium rises at the mid-year renewals, as insurers tighten policies following cladding-fuelled apartment fires…

One Big Switch in hot water with ACCC

23 July 2018

Consumer group One Big Switch, an action group whose promotion of insurance discounts raised questions, has fallen foul of the Australian Competition and Consumer Commission for claims about electricity savings…

EQC settles hundreds of storm claims

23 July 2018

New Zealand’s Earthquake Commission has settled 727 claims from storms and ex-cyclones that battered the country between January and last month…

Macquarie launches Dive In survey

16 July 2018

Macquarie Bank’s second diversity and inclusion survey is open from today, as Lloyd’s Dive In Festival was officially launched…

Liberty warns on reputation damage from food recalls

16 July 2018

A few days after supermarkets pulled sliced mushroom packets off their shelves following a plastic contamination scare, a product liability insurer has warned that food companies suffer more than monetary losses during product recalls…

Royal commission adds to D&O problems

09 July 2018

The Hayne royal commission into financial services misconduct is adding to insurer caution in the embattled directors’ and officers’ market…

Reinsurance rate momentum stalls for loss-free renewals

09 July 2018

Reinsurers in the Australian market are mostly taking a client-by-client approach as global mid-year renewals saw plentiful market capital slowing the momentum in reinsurance price rises for property-catastrophe accounts…

ICA code recommendations seek ‘best practice in conduct’

02 July 2018

The next version of the Insurance Council of Australia code of practice will make 30 recommendations to strengthen consumer protections and will for the first time seek Australian Securities and Investments Commission approval for the document…

S&P tips rate rises in some commercial lines

02 July 2018

Some commercial segments in Australia’s insurance market will probably see some “further rate hardening” as the broader property and casualty industry enjoys moderate growth prospects, S&P Global Ratings says…