Daily
Insurer fails to prove exclusion applies to earthquake claim
06 June 2023
A homeowner who said an earthquake damaged her property will be covered for repairs after an Australian Financial Complaints Authority ruling found her insurer failed to establish grounds to decline the claim...
Mustard launches personal cyber cover through partnership
06 June 2023
Mustard Underwriting has signed a strategic partnership with leading cloud-based cybersecurity services provider Digimune, enabling it to offer “world class” personal cyber cover to the Australian and wider Asia Pacific market...
Forestry firms protect carbon credits with parametric insurance
06 June 2023
Australian plantation owners are buying parametric insurance to preserve the value of carbon credits as well as counter bushfire risk, Descartes Underwriting says...
‘The year of the raise’: insurance staff should expect pay jump, recruiter says
02 June 2023
Two-thirds of insurance industry employers plan to increase salaries by more than 3% at review time, and almost all intend to offer some increase, a new survey by recruitment firm Hays says...
‘Universally loved’: former Marsh broker dies
02 June 2023
Robert Pasquini, a senior and expert broker who spent 27 years at Marsh, has died after a long battle with cancer...
Policyholder loses dispute after alleging claim denial was 'revenge'
02 June 2023
A vehicle owner who failed to inform his insurer that his car had pre-existing damage has lost his challenge against its decision to cancel his existing policy and reduce its liability for a claim...
Latitude completes Hallmark insurance sale
02 June 2023
Latitude Group Holdings has completed the sale of its Hallmark business to St Andrew’s Insurance Group for $21.3 million...
NZ unveils voluntary buyout scheme for risky properties in cyclone, flood areas
01 June 2023
The New Zealand Government announced today a “voluntary buyout” scheme for Category 3-designated residential properties in cyclone and flood-affected regions, including ones that were affected by Cyclone Gabrielle and the record North Island floods this recent summer...
EQC secures record $8 billion reinsurance, enters cat bond market
01 June 2023
New Zealand’s Toka Tu Ake EQC has increased its reinsurance to a record level, just below $NZ8.2 billion, and has entered the catastrophe bond market for the first time...
Insurer loses wear and tear argument over hail-damaged asbestos roof
01 June 2023
A Brisbane-based homeowner has won a dispute against her insurer to have her asbestos corrugated roof replaced after it was damaged by a hailstorm...
INsight podcast: story behind the APRA stats
01 June 2023
Industry statistics released by the Australian Prudential Regulation Authority – and the story behind them – are the main focus for the panel on the latest episode of the Insurance News podcast...
CCI to engage with staff members in ‘orderly run-off’
31 May 2023
Catholic Church Insurance says it will be engaging with staff on next steps as an orderly run-off process is undertaken following the decision to not provide new insurance policies or renewals...
Hospital pharmacy hit by visitor restrictions loses BI dispute
31 May 2023
A pharmacy located inside a Victorian hospital has lost a battle over a business interruption claim lodged after pandemic restrictions prevented potential customers accessing the store...
CHU joins cyclone reinsurance pool
31 May 2023
Underwriting agency CHU says its strata and build-to-rent portfolios will enter the Federal Government’s cyclone reinsurance pool in July...
Sweet spot: WTW offers sugarcane growers new parametric option
31 May 2023
WTW has launched "unique" parametric insurance for sugarcane farmers in Queensland that covers yield shortfalls caused by reduced application of nitrogen fertiliser, which has doubled in cost in Australia in the past year...
CTP review: insurers divided as RACQ flags scheme participation at risk
30 May 2023
RACQ has warned persistent losses in its compulsory third party business may force the motoring club and insurer to review its participation in the Queensland scheme...
Brush with the law: claim dispute centres on violent painters
30 May 2023
Homeowners who lodged a claim after contracted painters damaged their property during a violent attack have lost their challenge to increase their insurer’s cash settlement offer of $53,000...
ANZIIF reveals new president, board lineup
30 May 2023
Ben Bessell has taken the position of President at the Australian and New Zealand Institute of Insurance and Finance, while Scott Leney is Deputy President, it was announced today...
Apartment owners left with 'unreasonable' $11,000 excess after burst flexi hose
30 May 2023
Owners of a Brisbane apartment will have to pay an $11,000 excess after a flexi hose burst in their ensuite bathroom, causing wider damage in the building and leading to the complex lodging an insurance claim...
Hazards Partnership tackling national data shortcomings
26 May 2023
The Hazards Insurance Partnership between the Federal Government and the industry has discussed developing national, centralised data resources on severe weather risks, and cover affordability and availability...