The Broker
Broker backed in complaint over policy limits
17 March 2022
The Australian Financial Complaints Authority has backed a broker in a property fire claim dispute centring on whether correct policy limits had been advised...
Broker profile: people person fits right in
17 March 2022
People person Laura Meyer, Director at Meyer Insure, pictured, says helping clients was a natural fit and you don’t need a navy suit and tie to be a premier insurance broker...
Five free complaints: AFCA funding model 'will help brokers'
17 March 2022
The Australian Financial Complaints Authority is consulting on a new user-pays funding model, which it says will reduce the burden on brokers...
Brokers brace for flood fall-out as catastrophe worsens
03 March 2022
Brokers in Queensland and NSW are fielding calls about cover terms, trying to beat the claim-lodgment rush and even rolling up their sleeves to help move furniture after catastrophic floods struck the region this week...
Too many documents: brokers criticise TMDs as reform bites
03 March 2022
Brokers have raised concerns that new Target Market Determination documents are confusing consumers and that different approaches from insurers have added to the complexity...
Half-time score: broking networks steam ahead
03 March 2022
Australia’s three leading listed broking networks – Steadfast Group, AUB Group and PSC Insurance Group – are riding a wave of confidence as they revise upwards their guidance for this financial year, buoyed by how their businesses have performed in the December half...
Time to get personal: brokers urged to upgrade from general advice model
03 March 2022
Broker clients expect to be given personal advice and intermediaries still operating under the general advice model should convert, the National Insurance Brokers Association Convention heard...
Personal or general advice? AFCA sets out what it means in dispute ruling
03 March 2022
A Gallagher client who complained the broker breached its duty of care when arranging an income protection insurance policy, thereby causing him to have an inappropriate level of cover, has lost his dispute...
New code: brokers can be named for breaches
03 March 2022
The new Insurance Brokers Code of Practice has been launched with a ban on preferential remuneration, increased disclosure requirements and an obligation to identify and support vulnerable clients...
Denied bridge claim worth millions paid after broker intervention
03 March 2022
A multi-million-dollar insurance claim for damage to a bridge under construction was declined by the client’s insurer, but paid after broker Gallagher stepped in...
Broker moves: Gallagher manager takes up national placement role
03 March 2022
Gallagher has elevated NSW Manager Professional & Financial Risks Rob McCabe to National Placement Manager...
New Zealand perspective: insurers 'open for business', broker says
03 March 2022
The New Zealand insurance market is in good health and stable despite a number of challenges such as covid-fuelled cost pressures and weather-related losses last year, Crombie Lockwood says in a market update...
Steadfast Convention set for return after two-year absence
03 March 2022
The largest general insurance convention in Australia returns in Adelaide later this month after a lengthy covid-induced layoff...
Underinsurance: 'the system is broken and we need to fix it'
17 February 2022
A leading quantity surveyor has flagged a growing underinsurance crisis in Australia and says brokers could be key to addressing it...
'Too easy to say no': brokers flag remote working negatives
17 February 2022
Technology’s ability to enable home working has been hailed as one of the positives of the covid pandemic – but brokers have concerns too...
Broker code of practice set for March launch
17 February 2022
The National Insurance Brokers Association expects to launch the new code of practice on March 1 ahead of it taking effect from the start of November...
Doubts cast over promoted cyclone pool benefits
17 February 2022
Details released to date on the cyclone reinsurance pool cast doubts on its potential to deliver promoted savings while underwriters may remain unwilling to become involved in the market, North Queensland Insurance Brokers Director Ron Bellert says...
'Not like for like': AFCA rejects complaint that broker caused client to overpay
17 February 2022
An Aon client who insisted the broker failed to source a cheaper public liability policy, thereby causing it to pay more in premiums during the insured period, has been told the cover was not “like for like”...
IAG aims to make life easier for brokers
17 February 2022
IAG’s transformation of its intermediary division includes efforts to enable better digital engagement with brokers...
Individual advocacy key to remuneration battle
17 February 2022
Brokers have been urged to meet with their federal members of parliament and state senators to lift awareness about the profession and build relationships as a government review of financial advice and remuneration begins...