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Gallagher-SRS lawsuit settled out of court

Fri, 19 Jul 2019 16:11:00 +1000

The legal dispute between six former owners of the SRS underwriting agency and major broker Gallagher has been settled out of court...

QBE takes $85 million hit from UK rate change

Fri, 19 Jul 2019 16:07:00 +1000

QBE has warned a smaller-than-expected change in the interest rate used in UK personal injury calculations will have a $US60 million ($85 million) impact on claims liabilities...

Property, liability rates on the rise

Fri, 19 Jul 2019 15:23:00 +1000

Catastrophe-exposed property premiums in Australia are rising 10-20% while general liability rates are also increasing strongly in some parts of the market, Willis Towers Watson’s July update says...

Building crisis: ICA calls for end to �blame game�

Thu, 18 Jul 2019 16:26:00 +1000

The Insurance Council of Australia has today called for swift further action to restore confidence in the troubled building industry, after federal and state ministers pledged to work together to deal with the professional indemnity insurance impasse...

ASIC to ban insurance �product peddlers�

Thu, 18 Jul 2019 16:11:00 +1000

The Australian Securities and Investments Commission is set to ban unsolicited telephone sales of consumer credit insurance and life cover ahead of wider anti-hawking reforms...

360 builds construction presence with acquisition

Thu, 18 Jul 2019 16:06:00 +1000

360 Underwriting Solutions, the agency set up by former senior Allianz executives Denis Morrissey and Chris Lynch, has acquired a 50% stake in online insurance underwriting agency eSentry, adding construction capability to a rapidly expanding portfolio...

APRA to sharpen focus on insurance, culture

Wed, 17 Jul 2019 16:30:00 +1000

The Australian Prudential Regulation Authority is set to create an insurance division as part of a proposed overhaul that will also sharpen its focus on governance and cultural issues...

Fels puts insurers �on notice� over levy collection

Wed, 17 Jul 2019 16:03:00 +1000

NSW Emergency Services Levy Insurance Monitor Allan Fels has warned insurers he will be watching closely to prevent overcollection of the Emergency Services Levy...

Allianz ordered to pay ex-manager $1.4 million

Wed, 17 Jul 2019 15:20:00 +1000

A NSW court has ruled Allianz must pay $1.39 million in damages plus interest to a former manager who alleged he was a victim of bullying and harassment from his immediate supervisor...

Insurers 'should help pay for flammable cladding fix'

Tue, 16 Jul 2019 16:26:00 +1000

The Victorian Cladding Taskforce has proposed that insurers chip in to pay for cladding rectification works on affected high-rise buildings...