AFCA sees 36% rise in disputes
21 October 2019
The Australian Financial Complaints Authority has received more than 66,000 disputes involving insurance and other financial services providers in its first 11 months of operations...
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Queensland court rules against ordering insurance disclosure
21 October 2019
The Queensland Supreme Court has ruled against forcing the disclosure of insurance policy details in a class action case after rulings in previous disputes pointing to the practice becoming more common...
Fintechs aiming for growth
21 October 2019
Australia’s fintechs have set ambitious growth targets despite a tightening in funding availability, a new study has found...
Melbourne roads dominate AAMI crash index blackspots
21 October 2019
Melbourne roads have dominated this year’s AAMI Crash Index as congested intersections and driver distractions contribute to accidents...
Vero, Chubb voted NIBA insurers of the year
14 October 2019
Vero and Chubb have been voted the National Insurance Brokers Association general insurers of the year, while Insurance House director Gary Gribbin has received the association’s lifetime achievement award...
Two dead, 45 houses lost in northern NSW bushfires
14 October 2019
Northern NSW bushfires destroyed at least 45 homes and about twice as many rural outbuildings last week as hot weather and dry conditions fuelled the flames...
Fewer than normal cyclones expected this season
14 October 2019
The Bureau of Meteorology says there is a 65% chance of fewer than normal cyclones across northern Australia this year...
Broker report reveals deficiencies in dispute handling
14 October 2019
The independent Insurance Brokers Code Compliance Committee has described as “disappointing” its findings into the internal complaint handling process of subscribing members...
‘Tectonic shift’ reshaping insurance: Capgemini
14 October 2019
Insurers must embrace new business models to stay relevant as the industry undergoes a “tectonic shift” triggered by rising consumer expectations and shifting dynamics, Capgemini says in a new report...
Chubb report uncovers cyber complacency
14 October 2019
Almost half of Australian SMEs don't understand their regulatory obligations under data breach rules and many more are ignorant of cyber threats, research by Chubb has found...
Wrong Choice: pet insurance attack ‘doesn’t match the facts’
14 October 2019
Pet insurers pay more than 85% of the 500,000 pet insurance claims made each year, illustrating customers do receive value from their policies...
Pressure growing on governments for cladding action
14 October 2019
Pressure is growing on state governments to help fund building defect rectification as problems such as the Mascot Towers evacuation in Sydney add urgency to the issue, a Sedgwick executive says...
Suncorp warns NSW, Queensland to prepare for storm season
14 October 2019
Suncorp is urging residents of NSW and Queensland to trim overhanging trees, clean gutters and check their roofs in preparation for storms...
Most insurers ‘optimistic about investment outlook’
14 October 2019
About 66% of insurers in Australia and the broader Asia-Pacific region are positive in their current investment outlook, a survey by global asset management firm BlackRock has found...
Canberra ‘scaling back’ support for medical indemnity schemes
14 October 2019
Planned changes to medical indemnity legislation could eventually lead to a “gradual reduction” in support from the Federal Government, according to law firm Colin Biggers & Paisley...
ICNZ blasts Wellington EQC taskforce’s plan
14 October 2019
The Insurance Council of New Zealand says a proposal to more than double the Earthquake Commission cap to deal with quake-prone Wellington’s problems could lead to “perverse outcomes” and would be inequitable...
NZ drone technology put to the test at remote volcano
14 October 2019
Drone technology developed at the Victoria University of Wellington has helped analyse volcanic gases from PNG’s remote Bagana volcano, one of the most active in the world...
Industry 'most directly exposed' to climate change: RBA
07 October 2019
Insurers may be forced eventually to make way for governments or businesses as some assets become too risky because of climate change, the Reserve Bank of Australia has warned...
PI woes escalate for surveyors
07 October 2019
Surveyors involved with projects of more than three storeys are unable to secure professional indemnity covers, according to the Australian Institute of Building Surveyors...
Industry compiling farm protection uptake data
07 October 2019
About 299,500 farm insurance policies have been placed out for a sum insured value of $153 billion and 143,500 crop covers for $5.6 billion, according to the Insurance Council of Australia...