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 2019 Gallagher-SRS lawsuit settled out of court https://www.insurancenews.com.au/daily/gallagher-srs-lawsuit-settled-out-of-court https://www.insurancenews.com.au/daily/gallagher-srs-lawsuit-settled-out-of-court The legal dispute between six former owners of the SRS underwriting agency and major broker Gallagher has been settled out of court...

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Fri, 19 Jul 2019 16:11:00 +1000
QBE takes $85 million hit from UK rate change https://www.insurancenews.com.au/daily/qbe-takes-85-million-hit-from-uk-rate-change https://www.insurancenews.com.au/daily/qbe-takes-85-million-hit-from-uk-rate-change 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...

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Fri, 19 Jul 2019 16:07:00 +1000
Property, liability rates on the rise https://www.insurancenews.com.au/daily/property-liability-rates-on-the-rise https://www.insurancenews.com.au/daily/property-liability-rates-on-the-rise 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...

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Fri, 19 Jul 2019 15:23:00 +1000
Building crisis: ICA calls for end to ‘blame game’ https://www.insurancenews.com.au/daily/building-crisis-ica-calls-for-end-to-blame-game https://www.insurancenews.com.au/daily/building-crisis-ica-calls-for-end-to-blame-game 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...

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Thu, 18 Jul 2019 16:26:00 +1000
ASIC to ban insurance ‘product peddlers’ https://www.insurancenews.com.au/daily/asic-to-ban-insurance-product-peddlers https://www.insurancenews.com.au/daily/asic-to-ban-insurance-product-peddlers 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...

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Thu, 18 Jul 2019 16:11:00 +1000
360 builds construction presence with acquisition https://www.insurancenews.com.au/daily/360-builds-construction-presence-with-acquisition https://www.insurancenews.com.au/daily/360-builds-construction-presence-with-acquisition 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...

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Thu, 18 Jul 2019 16:06:00 +1000
APRA to sharpen focus on insurance, culture https://www.insurancenews.com.au/daily/apra-to-sharpen-focus-on-insurance-culture https://www.insurancenews.com.au/daily/apra-to-sharpen-focus-on-insurance-culture 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...

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Wed, 17 Jul 2019 16:30:00 +1000
Fels puts insurers ‘on notice’ over levy collection https://www.insurancenews.com.au/daily/fels-puts-insurers-on-notice-over-levy-collection https://www.insurancenews.com.au/daily/fels-puts-insurers-on-notice-over-levy-collection NSW Emergency Services Levy Insurance Monitor Allan Fels has warned insurers he will be watching closely to prevent overcollection of the Emergency Services Levy...

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Wed, 17 Jul 2019 16:03:00 +1000
Allianz ordered to pay ex-manager $1.4 million https://www.insurancenews.com.au/daily/allianz-ordered-to-pay-ex-manager-1-4-million https://www.insurancenews.com.au/daily/allianz-ordered-to-pay-ex-manager-1-4-million 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...

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Wed, 17 Jul 2019 15:20:00 +1000
Insurers 'should help pay for flammable cladding fix' https://www.insurancenews.com.au/daily/insurers-should-help-pay-for-flammable-cladding-fix https://www.insurancenews.com.au/daily/insurers-should-help-pay-for-flammable-cladding-fix The Victorian Cladding Taskforce has proposed that insurers chip in to pay for cladding rectification works on affected high-rise buildings...

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