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 BI claims uncertainty ramps up insurer earnings pressure: Fitch https://www.insurancenews.com.au/daily/bi-claims-uncertainty-ramps-up-insurer-earnings-pressure-fitch https://www.insurancenews.com.au/daily/bi-claims-uncertainty-ramps-up-insurer-earnings-pressure-fitch A possible surge in COVID-19 business interruption claims adds to existing pressures on Australian general insurers’ earnings, Fitch warns...

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Mon, 25 Jan 2021 16:16:00 +1100
Claimant who blamed bat for power surge loses insurance complaint https://www.insurancenews.com.au/daily/claimant-who-blamed-bat-for-power-surge-loses-insurance-complaint https://www.insurancenews.com.au/daily/claimant-who-blamed-bat-for-power-surge-loses-insurance-complaint A Suncorp contents insurance policyholder who believed a bat was responsible for a power surge that subsequently damaged his laptop and televisions has failed in his bid to have the insurer accept his claim...

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Mon, 25 Jan 2021 16:15:00 +1100
Disaster-hit regions 'might never recover' without insurance https://www.insurancenews.com.au/daily/disaster-hit-regions-might-never-recover-without-insurance https://www.insurancenews.com.au/daily/disaster-hit-regions-might-never-recover-without-insurance Natural disaster mitigation is vital to keep insurance affordable, because without it regional communities may never recover, Suncorp says as it releases a new report today...

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Mon, 25 Jan 2021 16:14:00 +1100
January hailstorm losses rise to nearly $1.9 billion https://www.insurancenews.com.au/daily/january-hailstorm-losses-rise-to-nearly-1-9-billion https://www.insurancenews.com.au/daily/january-hailstorm-losses-rise-to-nearly-1-9-billion Catastrophe data company Perils has finalised its overall loss estimate of several hailstorms that hit the eastern states in January last year, raising the value of claims accepted by insurers to $1.89 billion...

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Mon, 25 Jan 2021 16:12:00 +1100
Nexus joins Insurance Advisernet https://www.insurancenews.com.au/daily/nexus-joins-insurance-advisernet https://www.insurancenews.com.au/daily/nexus-joins-insurance-advisernet Nexus Risk Services will join Insurance Advisernet under an arrangement agreed by the two Austbroker equity partners...

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Fri, 22 Jan 2021 16:11:00 +1100
Businesses forced to close as 'insurance crisis' worsens https://www.insurancenews.com.au/daily/businesses-forced-to-close-as-insurance-crisis-worsens https://www.insurancenews.com.au/daily/businesses-forced-to-close-as-insurance-crisis-worsens A growing number of businesses are being forced to shutter because they can’t get public liability insurance which is mandatory for many of the industries they operate in, according to Australian Small Business and Family Enterprise Ombudsman Kate Carnell...

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Fri, 22 Jan 2021 15:59:00 +1100
Insurer pays for failing to provide 'like-for-like' farm cover https://www.insurancenews.com.au/daily/insurer-pays-for-failing-to-provide-like-forlike-farm-cover https://www.insurancenews.com.au/daily/insurer-pays-for-failing-to-provide-like-forlike-farm-cover Agricultural insurer Achmea must indemnify a claim after fire destroyed 1380 bales of hay, despite the items not being listed among insured contents in a farm policy sold to a client...

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Fri, 22 Jan 2021 15:24:00 +1100
Industry wants PI insurance requirements 'applied prospectively' https://www.insurancenews.com.au/daily/industry-wants-pi-insurance-requirements-applied-prospectively https://www.insurancenews.com.au/daily/industry-wants-pi-insurance-requirements-applied-prospectively The Insurance Council of Australia has voiced concerns over the NSW Government’s draft regulations for the Design and Building Practitioners Act 2020 that was passed in parliament last June...

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Fri, 22 Jan 2021 14:27:00 +1100
NIBA presses ASIC for retail advice reform https://www.insurancenews.com.au/daily/niba-presses-asic-for-retail-advice-reform https://www.insurancenews.com.au/daily/niba-presses-asic-for-retail-advice-reform The National Insurance Brokers Association has proposed meeting with the Australian Securities and Investments Commission, insurers and consumer representatives to discuss changes that could help retail clients access advice...

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Thu, 21 Jan 2021 15:57:00 +1100
'Needs TLC': fire claim upheld despite concern over property condition https://www.insurancenews.com.au/daily/needs-tlc-fire-claim-upheld-despite-concern-over-property-condition https://www.insurancenews.com.au/daily/needs-tlc-fire-claim-upheld-despite-concern-over-property-condition An investment property owner has won a claim payment dispute after fire damaged an old house that was advertised as needing “tender loving care” when it was purchased...

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Thu, 21 Jan 2021 15:51:00 +1100