Court throws out ASIC ban challenge
The Federal Court has dismissed a financial adviser's application to restrain ASIC from issuing a possible financial services banning order against him. ASIC said it had yet to make a banning order. In...
View ArticleFSC releases policy wish list
FSC's wish list for the next Federal Parliament includes raising the GST to 15% and lowering corporate tax to 22%. Its statement of wide-ranging policy priorities released at the start of the election...
View ArticleVero warns of HCF phase-out risks
Vero is urging brokers to warn industrial clients to report use of natural refrigerants because of their emerging risk. Its latest Risk Management Insights newsletter said HCFC and HCF refrigerants...
View ArticleHealth revenue up, profits down
APRA's latest private health quarterly report shows revenue rose 6.8% in the year to March 2016. Profits dropped 3.1% in 3Q16 because of a 5.3% increase in benefits paid. The report said private...
View ArticleNSW drivers ‘slugged hardest'
NSW drivers are the hardest hit for comprehensive car premiums, a car buyers' guide website says. Drive.com.au reported a review of 24,000 quotes from 63 insurers found NSW drivers paid at least 35%...
View ArticleIDF appoints key executives
Several senior global executives have been appointed to the Insurance Development Forum's (IDF) steering committee. IDF chair Stephen Catlin said the 13 chairs, presidents and CEOs would advise the UN,...
View ArticlePeople
Long-time Accident & Health International GM Kevin Kinsella is retiring to “let new blood have a go”. He told CN he would leave on June 30 after more than 50 years in the industry. “There are a lot...
View ArticleSuncorp unveils new operating model
Suncorp investors yesterday (May 25) got a “sneak peek” of its consumer-centric operating model, which starts next month. CEO Michael Cameron said in Suncorp's new “customer outcomes approach”, the...
View ArticleGood faith breach ‘a big stick'
Balancing expectations and policy reality was fraught with tension, GDLaw managing partner David Newey told an Underwriting Agencies Council seminar in Brisbane. He said brokers expected losses to be...
View ArticleBrokers low on trust list
Insurance brokers have rated low with Australians as “most trusted” professionals, ranking 27th of 30. A Roy Morgan survey of the country's most trusted professions had brokers only ahead of real...
View ArticleSteadfast buys InsuranceConnect
Steadfast has bought Melbourne-based software developer InsuranceConnect (IC) for an undisclosed sum. Steadfast investor relations manager Vanessa Beresford told CN the deal included IC's underwriting...
View ArticleCities ‘unready for natural hazards'
Cities around the world are failing to prepare for ever-increasing risks of extreme weather and other hazards as their populations grow, putting more people and assets at risk of disaster, a World Bank...
View ArticlePandemic risk market launched
The World Bank Group has created the first-ever insurance market for pandemic risk by launching the Pandemic Emergency Financing Facility (PEF). The World Bank said PEF included an insurance window,...
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 ArticlePool builder's case takes dive
A SA pool and spa manufacturer has lost an appeal against an order to post a $150,000 surety to sue a broker he blames for his businesses' collapse. On May 5, SA Supreme Court Justice Sam Doyle upheld...
View ArticleArson suspect wins case against IAG
The NSW Appeal Court has set aside District Court orders, finding in favour of an NRMA policyholder suspected of torching his car, despite rejecting most of his grounds for appeal. IAG had refused to...
View ArticleNSW Parlt passes ESPL legislation
The NSW Parliament has passed legislation to make way for the emergency services property levy (ESPL). The NSW Government in December announced it would abolish the insurance-based emergency services...
View ArticleMany Qlders underinsured: RACQ
An “alarming” number of Queenslanders had no or insufficient home and contents insurance, a consumer survey has found. The 2016 RACQ household cover index survey of 1,019 homeowners revealed 10.8% had...
View ArticleCommInsure appoints reviewers
CommInsure has appointed two independent experts to investigate its actions and ethics after media revelations it allegedly rejected legitimate claims ( CN 24/03/16 ) . On May 20, the insurer said it...
View ArticleQSuper launches insurance
The Qld Government's super fund will offer in-house insurance to its 500,000 members. QSuper CEO Michael Pennisi said members could personalise cover to suit their circumstances. Wholly owned QInsure...
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