Forrest sues Lloyd's for $6.1m
WA mining magnate John Andrew Henry Forrest and his company Fortescue Metals Group have won the right to sue their London-based insurers for more than $6m in legal fees following a failed ASIC...
View ArticleRBA CEO wins legal fee reprieve
The former CEO of the Reserve Bank's note printing company will have legal fees in a criminal case against him paid by his former employer until a jury finds him guilty, the Vic Supreme Court has...
View ArticleMatteson joins Talbot in Sydney
Former Arch Underwriting at Lloyd's (Australia) regional director Adam Matteson has been hand-picked to head Talbot Underwriting Ltd's move into the Australian market. Talbot will open a Sydney office...
View ArticleMbank Private debut raises $6bn
Medibank Private's ASX debut ( CN 23/10 ) has raised $6bn after the share price rose to $2.23 on Tuesday (November 25) before settling at $2.14. The price set for institutional investors was $2.15,...
View ArticleAustbrokers shakes up NZ market
Austbrokers Holdings this week said it would buy 100% of NZ's BrokerWeb Management Ltd and a 50% stake in the country's biggest independent broking operation BrokerWeb Risk Services Ltd (BWRS) in a...
View ArticleAllianz buys TIO in $424m deal
Allianz Australia will buy the NT Government's Territory Insurance Office (TIO) general insurance (GI) business ( CN 09/10 ) in a deal worth $424m. Allianz said in a statement the deal included a...
View ArticleAPRA performance results released
APRA has released September 2014 quarterly performance statistics for the life and super industries. The life industry's 1Q profit was $527m, down 9.6% on the June qtr. The year's total revenue was...
View ArticlePeople
Suzanne Cureton has been appointed Risk Management Institution of Australasia GM. She replaces former CEO Geoff Crittenden who has left to pursue other opportunities. Andrea Doney continues as events...
View ArticleMurray: ‘essential to regain trust'
Regaining trust in the financial services industry is likely to be a major thrust behind the financial systems inquiry (FSI) report expected to be released as early as this week ( CN 21/11/2013 ) ....
View Article‘Lack of agility', insurers' main issue
The industry's biggest future challenge is the pace of change and a major issue facing insurers is the danger they might lack the agility to respond. That was the main message from Actuaries Institute...
View ArticleParties agree on FoFA remake
Parties agree on FoFA remakeThe Abbott government has support from the Opposition to remake some broadly supported elements of the disallowed FoFA regulations ( CN 20/11 ) . Finance minister Mathias...
View ArticleStones settle tour cancellation claim
The Rolling Stones and its insurers have settled a $12m claim to cover this year's cancelled Australian and NZ tour. International media have reported a dispute between the band and Cathedral Capital...
View ArticleHamilton buys Sportscover
Bermuda-based Hamilton Insurance Group will buy Sportscover Underwriting Ltd from founder Peter Nash's Wild Goose Holdings. Hamilton Group CEO Brian Duperreault said the agreement would benefit...
View ArticleNSW w/comp drops GBS, Xchanging
The NSW workers' compensation nominal insurer has dropped Gallagher Bassett Services (GBS) and Xchanging as claims agents by not offering them three-year contracts that start on January 1, 2015. NSW...
View ArticleUAC farewells industry stalwart
UAC is mourning the death last week of a founding father and former chair Roy Ellis. GM William Legge said Ellis, 68, was one of UAC's founders and a visionary who saw the need for a representative...
View ArticleDiary
February 24, 2015, London: International asbestos litigation forum. Go to www.informaglobalevents.com
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. Product code: 134001894
View ArticleBroker must pay $730k in sex case
A broker who has escaped criminal conviction for indecent assault has been found in the NSW District Court on the same allegations to have sexually harassed a worker. Judge Leonard Levy held WD Gelle...
View ArticleInsurer joined in case against dentist
Guild Insurance Ltd has lost an appeal against a NSW District Court finding it be included as a defendant in a case against a dentist for assault and negligence. Mary Hepburn is suing former dentist...
View ArticleBroker sued for defamation
Two NSW financial planners have won the right to sue their former employer for alleged defamatory comments after they left the brokerage. Lee Hendrick Riske and Stephen Edward Charles Cook are suing...
View Article
