Daily
Cyber crooks ‘demanded ransom’ from ProRisk
21 June 2019
Cyber attackers who crippled systems at Insurance House Group demanded a ransom to restore operations, it has emerged...
AIG NZ exits high-net-worth cover
21 June 2019
AIG is discontinuing its Private Client Group home, contents and yacht cover and will no longer offer high-net-worth insurance in New Zealand from the end of next month...
Adani mine secures insurance cover
20 June 2019
Indian conglomerate Adani Group has secured insurance for its controversial Carmichael coal mine project in Queensland...
Fraud trial: high legal costs dismissed as ‘legacy’ issue
20 June 2019
Former Dual Australia claims manager Josie Gonzalez dismissed concerns over legal costs of $9 million in one year as a “legacy” issue, the County Court heard today...
Zurich brings in former Allianz manager for key broker role
20 June 2019
Zurich Australian Insurance has appointed David Foote as National Relationship Leader, focusing on key international broker partners...
Add-ons: insurers to repay another $14.7 million
19 June 2019
Six insurers will repay $14.7 million to consumers who purchased poor-value add-on insurance at car yards, the Australian Securities and Investments Commission said today...
Fraud trial told of questions directed at law firm
19 June 2019
A Dual claims administrator received a text message from Josie Gonzalez, who was on maternity leave, about two hours after an invoice issue was raised with Jaag Lawyers, the County Court heard today...
Liberty rebrands commercial insurance arm
19 June 2019
Liberty International Underwriters in Australia will trade as Liberty Specialty Markets from Friday as the business unifies its commercial insurance operations under one brand...
Dishonest AR 'backdated policy after fire'
18 June 2019
The Australian Securities and Investments Commission has permanently banned an authorised representative in Victoria after a probe found he engaged in financial misconduct...
Fraud trial: Arch questioned Dual legal spend
18 June 2019
London-based Arch had questioned underwriting agency Dual about legal fee levels as part of its auditing processes, former company executive Peter Bailey told the County Court today...
NSW budget: ICA issues warning on rising insurance taxes
18 June 2019
The Insurance Council of Australia says revenue from “inequitable” NSW insurance taxes and levies will rise by 5.4% per year over the next four years, placing an “unfair burden” on policyholders...
Cyber attack impacts Insurance House
14 June 2019
A devastating cyber attack has brought down systems across the diverse operations of national brokerage Insurance House...
Fraud trial: rising legal costs sparked Dual disquiet
14 June 2019
Concerns over an increased level of legal costs were raised with former Dual Australia claims manager Josie Gonzalez in 2012, a County Court trial in Melbourne was told today...
360 goes rural with Insure That stake
14 June 2019
360 Underwriting Solutions, the underwriting agency set up in 2017 by former senior Allianz executives Denis Morrissey and Chris Lynch, has acquired a majority stake in specialist rural agency Insure That...
Underwriting agency hit by cyber attack
13 June 2019
Underwriting agency ProRisk has been hit by a serious cyber attack, forcing a shutdown of systems for several days...
Risking irrelevance: Neal says Lloyd's needs to 'reset'
13 June 2019
Lloyd’s faces becoming irrelevant unless it grabs “a once in a generation opportunity” to overhaul its model for the digital age, CEO John Neal says...
Insurer offers no-excess roo crash cover
13 June 2019
Insurtech disruptor Huddle, which sells products underwritten by Hollard, has launched an excess-free cover specifically for vehicle collisions with kangaroos...
Dual fraud trial: prosecution opens case against couple
12 June 2019
Former Dual Australia employee Josie Gonzalez and her husband Alvaro Gonzalez submitted more than 400 fraudulent invoices to con the underwriting agency out of $17.4 million, prosecutors claimed today...
AUB cuts its earnings outlook
12 June 2019
AUB Group today lowered its earnings guidance for the current financial year, citing weaker than expected performance from its strata portfolio and risk services division...
Insurers accused of selling travel cover with illegal exclusions
12 June 2019
Travel insurers have been accused of breaking the law by selling travel insurance with blanket mental health exclusions, and then failing to indemnify customers...