insuranceNEWS.com.au

BI claims uncertainty ramps up insurer earnings pressure: Fitch

Mon, 25 Jan 2021 16:16:00 +1100

A possible surge in COVID-19 business interruption claims adds to existing pressures on Australian general insurers’ earnings, Fitch warns...

Claimant who blamed bat for power surge loses insurance complaint

Mon, 25 Jan 2021 16:15:00 +1100

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...

Disaster-hit regions 'might never recover' without insurance

Mon, 25 Jan 2021 16:14:00 +1100

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...

January hailstorm losses rise to nearly $1.9 billion

Mon, 25 Jan 2021 16:12:00 +1100

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...

Nexus joins Insurance Advisernet

Fri, 22 Jan 2021 16:11:00 +1100

Nexus Risk Services will join Insurance Advisernet under an arrangement agreed by the two Austbroker equity partners...

Businesses forced to close as 'insurance crisis' worsens

Fri, 22 Jan 2021 15:59:00 +1100

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...

Insurer pays for failing to provide 'like-for-like' farm cover

Fri, 22 Jan 2021 15:24:00 +1100

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...

Industry wants PI insurance requirements 'applied prospectively'

Fri, 22 Jan 2021 14:27:00 +1100

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...

NIBA presses ASIC for retail advice reform

Thu, 21 Jan 2021 15:57:00 +1100

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...

'Needs TLC': fire claim upheld despite concern over property condition

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

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...