insuranceNEWS.com.au - Daily

Commercial rates fall 2% in first drop since 2016

Wed, 24 Apr 2024 06:21:12 GMT

Australian commercial premium rates have declined for the first time since 2016, falling 2% in the first quarter, according to Marsh’s latest Global Insurance Market Index, released today...

Homeowners lose fight against $1.5m slip damages

Wed, 24 Apr 2024 05:52:27 GMT

A woman who was awarded more than $1.5 million in damages after slipping on a driveway at an open house inspection has had her compensation upheld in an appeal court...

No payout for firm after director’s son writes off Ferrari

Wed, 24 Apr 2024 05:20:19 GMT

An Australian Financial Complaints Authority panel has backed an insurer’s decision to decline a business’ claim for damage to a Ferrari 448 that was crashed by a company director’s son...

INsight podcast: insurance implications of shopping centre stabbings

Wed, 24 Apr 2024 04:58:33 GMT

The insurance impact of the fatal stabbings at Sydney’s Bondi Junction Westfield is the main topic of discussion on the latest Insurance News podcast...

Broker denies misuse of millions in client funds

Tue, 23 Apr 2024 06:04:25 GMT

Former broker Renato De Maria today pleaded not guilty to charges he issued inflated insurance premium invoices to corporate customers and misused millions of dollars held in trust accounts...

Gallagher acquires Sydney trade credit insurance broker

Tue, 23 Apr 2024 06:02:46 GMT

Global broker Gallagher says Prasidium Credit Insurance has joined the business, enhancing its trade credit insurance expertise in the Australian market...

Industry split on cyclone pool time limit extension

Tue, 23 Apr 2024 05:14:00 GMT

Insurers have given diverse views to a parliamentary committee hearing on whether the cyclone reinsurance pool should cover flooding related to events beyond a current 48-hour limit...

AFCA rejects 'home contents' claim for damaged car

Tue, 23 Apr 2024 05:10:38 GMT

An insured who sought cover under his home and contents policy for damage to his non-driveable car has lost a dispute over his insurer’s decision to reject the claim...

ASIC appeals against unfair contract term ruling

Fri, 19 Apr 2024 06:24:00 GMT

The Australian Securities and Investments Commission is challenging a court ruling that a notification clause in Auto & General home and contents policies did not breach unfair contract terms laws...

Greens urge state to ease gig venue premiums

Fri, 19 Apr 2024 06:23:24 GMT

The Victorian Greens have called on the State Government to offer cheaper insurance for struggling live music venues through the authority that provides public sector and builders’ warranty cover...

Flood inquiry told of insurers’ progress on claims

Fri, 19 Apr 2024 06:22:07 GMT

A flood-hit community has told a federal inquiry session in Heathcote, Victoria, that claims handling this year has been “much more positive” than after previous catastrophes...

Hawaii holidaymaker loses dispute over wildfire exclusion

Fri, 19 Apr 2024 06:21:30 GMT

A Mitsui Sumitomo customer who bought a travel policy to visit Hawaii was not misled by the way optional natural disaster cover was presented on the insurer’s website, the industry’s dispute adjudicator has ruled...

Code review panel opens consultation

Thu, 18 Apr 2024 06:31:12 GMT

The independent panel reviewing the General Insurance Code of Practice has released an initial consultation paper seeking feedback on areas including financial hardship, customer vulnerability, enforceability and claims handling...

Brokers accused of misleading clients over flood cover

Thu, 18 Apr 2024 06:30:42 GMT

Some flood-hit business owners have alleged they were misled by their brokers over the extent of their cover, the federal inquiry into insurers’ handling of record-breaking floods heard today...

Tomorrow’s strata: Insurance News launches expert-led seminar

Thu, 18 Apr 2024 06:30:19 GMT

Insurance News will hold a focused half-day seminar on May 30 to explore current trends and future challenges in the expanding strata sector...

Builder loses subsidence claim dispute

Thu, 18 Apr 2024 06:27:57 GMT

An experienced builder has lost a claim dispute with Youi over ground movement damage to walls, floors, ceilings, windows and doors in the six months after a storm...

Cyber specialist CFC buys 'innovative' Solution

Wed, 17 Apr 2024 06:17:36 GMT

London-based cyber specialist CFC has acquired Solution Underwriting, expanding its presence in the Australian market...

Driver compensated for motor claim 'stress and inconvenience'

Wed, 17 Apr 2024 06:16:39 GMT

A 74-year-old has been awarded $2550 in compensation for “undue delays” after she waited nine months for her vehicle to be repaired following a collision...

'Disorganised rabble’: flooded Victorians wade in on insurers

Wed, 17 Apr 2024 06:14:31 GMT

Residents of western Melbourne communities affected by damaging floods voiced strong criticism of insurers at today’s federal inquiry hearings in Maribyrnong...

INsight podcast: key submissions on standard definitions

Wed, 17 Apr 2024 06:09:58 GMT

Differing views on creating more standard definitions for natural disasters are the main subject for discussion on the latest Insurance News podcast...