Ron Shorter award expands to Qld
AILA's 2016 Ron Shorter memorial award, to help young insurance professionals develop public speaking skills, has been expanded to Qld after adding Vic last year ( CN 22/04/15 ) . NSW, Vic and Qld...
View ArticleDiary
March 15, Sydney: Joint AILA-Aviation Law Association of Australia & NZ seminar. Go to www.aila.com.au March 21, Sydney: Elevista workshop on additional insureds in policies ( CN 21/01/16 ) . Go...
View ArticleEditorial team
Editor: Eva Wiland. Email eva.wiland@thomsonreuters.com. Contributing Editor: Kate Tilley. Journalist: John Reynolds. Managing Editor: Helen Jones. Twitter: @Cover_NoteTR.
View ArticleDC's s54 interpretation overruled
The WA Appeal Court (AC) has overturned a District Court (DC) decision Allianz Australia Insurance Ltd was wrong to refuse a claim under s54 of the Insurance Contracts Act. AC President, Justice Carmel...
View ArticleLawyers call for Corp Act reforms
Two Brisbane insurance lawyers have suggested changes to the federal Corporations Act 2001 to make claims against deregistered companies' insurers easier. McInnes Wilson Lawyers' Alicia Hill and Ingrid...
View ArticleASIC targets social media ads
ASIC has taken action against three SMSF operators' social media advertising. On ASIC's instigation, Urban Seed Project Marketing Pty Ltd, Skybridge Portfolios Pty Ltd and Tatnell DLS Pty Ltd will...
View ArticleRating unaffected by IAG profit drop
IAG has maintained its AA-/stable credit rating despite a lower 1H16 profit margin. Standard & Poor's (S&P) issued the maintained rating the day IAG announced a 12% profit fall to $610m....
View ArticleQBE profit falls 7% but COR improves
QBE has reported a 7% CY15 net profit fall to $US686m ($A953.2m), while gross written premium (GWP) was down 9% to $US16.57bn. Group CEO John Neal said in an ASX statement the adjusted combined...
View ArticlePPS enters Aust market
South African insurer Professional Provident Society (PPS) will establish a business in Aust. CEO Mike Jackson said PPS Mutual would replicate its South African life business model for graduate...
View ArticleMixed bag for GI and life insurers
Australia's general insurance (GI) 2Q16 net profit plummeted 42.2% on 2Q15, to $2.4bn, the latest APRA quarterly GI performance statistics report shows. Insurers' net earned premium was down marginally...
View ArticleVamos quits ASFA
Long-time ASFA CEO Pauline Vamos has resigned and steps down at the end of FY16. An ASFA spokesperson told CN Vamos had not said what she would do after her term ended. She said Vamos would not comment...
View ArticlePeople
QBE has appointed former group chief strategy officer Colin Fagen to a new role of group COO, while group CEO, operations Mike Emmett will leave after five years in the company. Separately, QBE...
View ArticleARPC negotiates ‘best' renewal
The Australian Reinsurance Pool Corporation (ARPC) has found traditional reinsurers are better value for money in the $2.9bn renewal of its CY16 retrocession program. Online insurance newsletter...
View ArticleCourt condemns FSL breaches
Mecon Insurance Pty Ltd has been ordered to pay $20,000 to the Vic Director of Consumer Affairs (DCA) after admitting to billing customers for redundant fire services levies (FSL) ( CN 23/10/14 ;...
View ArticleAce accepts ARs breached laws
Ace Insurance Ltd has made an enforceable undertaking (EU) to ASIC to compensate affected customers and donate $1m to financial counselling and literacy initiatives. ASIC said Ace admitted, from...
View ArticleHeavyweights back P2P start-up
A start-up peer-to-peer (P2P) insurer boasting about “shaking up the industry” has reportedly received backing from some of the world's insurer heavyweights. US media has reported Berkshire Hathaway,...
View ArticleSwiss Re net income up 31%
Swiss Re has reported a 31% jump in CY15 group net income on CY14 to $US4.6bn ($A6.4bn), while premium and fee income was down 3% to $US30.2bn. The reinsurer said in a statement its 2011 to 2015 return...
View ArticleRecord-force cyclone hits Fiji
Tropical cyclone Winston that hit Fiji's main islands on Sunday (February 21) is the strongest documented cyclone in the southern hemisphere, Munich Re geo risks research unit head Peter Hoeppe says....
View ArticleMarine claims drop in CY15
A considerable drop in demand for offshore supply vessels in the oil and gas sectors has reduced commercial marine claims for Aust insurers, Aon's latest Marine Insurance Review 2015 (Protection &...
View ArticleEditorial team
Editor: Eva Wiland Email eva.wiland@thomsonreuters.com Contributing editor: Kate Tilley Journalist: John Reynolds Managing Editor: Helen Jones Twitter: @Cover_NoteTR.
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