insuranceNEWS.com.au https://www.insurancenews.com.au/ General insurance and financial services news from Australia and around the world en-au admin@insurancenews.com.au Copyright 2021 Swiss Re risk engineer wins Aon scholarship https://www.insurancenews.com.au/the-professional/swiss-re-risk-engineer-wins-aon-scholarship https://www.insurancenews.com.au/the-professional/swiss-re-risk-engineer-wins-aon-scholarship The Australian and New Zealand Institute of Insurance and Finance says Swiss Re engineer Adi Mehta submitted the winning essay for this year’s Aon Scholarship...

]]>
Mon, 25 Oct 2021 14:10:00 +1100
Wotton + Kearney expands property, construction, energy team https://www.insurancenews.com.au/the-professional/wotton-kearney-expands-property-construction-energy-team https://www.insurancenews.com.au/the-professional/wotton-kearney-expands-property-construction-energy-team Insurance specialist law firm Wotton + Kearney has made four new appointments to its Property, Construction and Energy team, having announced two partner promotions to the division in June...

]]>
Mon, 25 Oct 2021 14:08:00 +1100
APRA looking for 'protection gap' answers https://www.insurancenews.com.au/regulatory-government/apra-looking-for-protection-gap-answers https://www.insurancenews.com.au/regulatory-government/apra-looking-for-protection-gap-answers The Australian Prudential Regulation Authority says insurance accessibility and affordability challenges for parts of the community are likely to be exacerbated by increases in the frequency and severity of natural catastrophes, and the issue is a key focus...

]]>
Mon, 25 Oct 2021 13:51:00 +1100
NSW explores new apartment defect insurance https://www.insurancenews.com.au/regulatory-government/nsw-explores-new-apartment-defect-insurance https://www.insurancenews.com.au/regulatory-government/nsw-explores-new-apartment-defect-insurance The NSW Government aims to “weed out” untrustworthy apartment developers with the introduction of decennial liability insurance to guarantee against major defects for up to 10 years and provide a safety net for consumers which is currently lacking in the multi-unit high rise sector...

]]>
Mon, 25 Oct 2021 13:50:00 +1100
APRA remuneration guidance 'essential reading' https://www.insurancenews.com.au/regulatory-government/apra-remuneration-guidance-essential-reading https://www.insurancenews.com.au/regulatory-government/apra-remuneration-guidance-essential-reading The Australian Prudential Regulation Authority says finalised guidance for a new remuneration standard developed to rein in poor practices has been released, allowing insurers and other firms plenty of time to put in place required arrangements...

]]>
Mon, 25 Oct 2021 13:49:00 +1100
ARPC operating surplus rises above forecast https://www.insurancenews.com.au/regulatory-government/arpc-operating-surplus-rises-above-forecast https://www.insurancenews.com.au/regulatory-government/arpc-operating-surplus-rises-above-forecast The Australian Reinsurance Pool Corporation has reported a better-than-expected operating result of $84.9 million due to rate increases in underlying commercial insurance premiums...

]]>
Mon, 25 Oct 2021 13:48:00 +1100
ASIC sues former Freedom executives for alleged sales misconduct https://www.insurancenews.com.au/life-insurance/asic-sues-former-freedom-executives-for-alleged-sales-misconduct https://www.insurancenews.com.au/life-insurance/asic-sues-former-freedom-executives-for-alleged-sales-misconduct The Australian Securities and Investments Commission says it has commenced court action against two former Freedom Insurance executives, alleging they breached conflicted remuneration and other laws to drive sales at the expense of clients...

]]>
Mon, 25 Oct 2021 12:53:00 +1100
Upcoming advice review offers chance to 'reset' industry: AMP https://www.insurancenews.com.au/life-insurance/upcoming-advice-review-offers-chance-to-reset-industry-amp https://www.insurancenews.com.au/life-insurance/upcoming-advice-review-offers-chance-to-reset-industry-amp AMP has pressed the need for stakeholder “collaboration” when the Treasury-led Quality of Advice Review takes place next year...

]]>
Mon, 25 Oct 2021 12:52:00 +1100
FSC CEO to step down https://www.insurancenews.com.au/life-insurance/fsc-ceo-to-step-down https://www.insurancenews.com.au/life-insurance/fsc-ceo-to-step-down The Financial Services Council says it has started looking for a successor to CEO Sally Loane, who is leaving at the end of the year...

]]>
Mon, 25 Oct 2021 12:52:00 +1100
Disability income insurance has highest claims paid ratio: APRA data https://www.insurancenews.com.au/life-insurance/disability-income-insurance-has-highest-claims-paid-ratio-apra-data https://www.insurancenews.com.au/life-insurance/disability-income-insurance-has-highest-claims-paid-ratio-apra-data The prudential regulator has again expressed concerns about disability income insurance (DII) products, following the release of its latest claims and disputes data for the rolling 12-month period to June 30...

]]>
Mon, 25 Oct 2021 12:51:00 +1100