Country: Australia Page 8 / 89
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- September 20 2024
New South Wales passes tougher strata law to restore confidence
The new law bans managing agents from receiving a commission on insurance products when they don’t play a role in finding the best deal for residents, as it seeks to crack down on agents who do not properly declare conflicts of interests.
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- September 19 2024
Australian, UK regulators greenlight Ardonagh’s takeover bid for PSC
The US$1.5bn scheme of arrangement to buy all the shares of the Australian broking group is now pending PSC's shareholders' and the court's approvals.
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- September 18 2024
Australia’s reinsurance pool led to a 21% fall in home premiums: study
The study by an MIT researcher claims that public reinsurance is a cost-effective policy solution for rehabilitating insurance markets affected by catastrophic climate risks.
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- September 18 2024
American bond insurance specialist BAM launches in ANZ
The monoline mutual will focus on energy transition and social infrastructure projects in the region.
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- September 17 2024
Suncorp CEO Steve Johnston to chair ICA board
Johnston, who joined the ICA board as director in August 2021, will begin his term as chair on January 1, 2025, succeeding Nick Hawkins, IAG managing director and CEO, who has served as president of the board for the past two years.
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- September 17 2024
Howden expands Australia presence with Collegial Insurance’s portfolio acquisition
Collegial was founded in 2015 by director Russell Farrington and has a diverse portfolio ranging from listed corporates to SMEs.
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- September 16 2024
Lockton Australia expands claims offering with Gallagher hire
Sydney-based Adam Squire, who has 38 years of industry experience, has joined the broker as head of claims.
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- September 10 2024
WTW launches dedicated tech industry practice for ANZ to boost specialty services
As part of its corporate risk & broking business in Australia and New Zealand, it has appointed cyber and tech risk specialist Ben Di Marco as division head.
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- September 10 2024
Crawford Australia promotes Matt Donnelly to head of specialty loss adjusting
In his new role, Donnelly will expand his remit to lead the entire specialty loss adjusting portfolio and report to Australia president Jonathan Hubbard.
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- September 10 2024
Steadfast refutes ABC’s allegations of kickbacks, misleading customers
The Australian broker said that it is "disappointed that important information has been selectively presented” in a recent media report about its practices in strata insurance.
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- September 9 2024
ACCC chair calls for strata commission ban as media report alleges Steadfast misled clients via opaque schemes
The broker's shares on the ASX entered a trading halt pending it releasing an announcement following the allegations by ABC in its investigative report.
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- September 6 2024
Extension of cyclone pool coverage period to 7 days would increase average annual loss by 5%: ARPC
The Australian cyclone pool will need to collect additional premiums through rate increases to cover the increased claims costs if such a change was made, the pool's administrator said.
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- September 6 2024
APAC construction market to see rating pressure as capacity, competition ramps up: WTW
While premiums have been stable in the first half of 2024, Australia and Asia markets are seeing renewed interest from overseas insurers and new entrants.
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- September 4 2024
Crawford Australia taps Charles Taylor’s Simon Chenery as executive adjuster
Brisbane-based Chenery has more than 34 years in the loss adjusting industry with a focus on large and complex property claims.
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- September 4 2024
Gallagher promotes John Li to APAC client director
Perth-based Li joined the broker in February following its acquisition of mining specialist Ansin Insurance Brokers, whic he founded in 2019.
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- September 4 2024
Zurich elevates David Wainwright to chief risk officer for ANZ
Wainwright, currently CRO for the insurer's UK life business, will start his new role in January next year succeeding Jaimie Sach who is retiring.
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- September 3 2024
Aon veteran Alexandra Tilden returns to Australia as APAC strategic account director
Tilden will relocate back to Australia from San Francisco, where she held th role of managing director since 2021.
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- September 3 2024
Crawford Australia appoints Milia Xystros as head of third party administration
Previously, Sydney-based Xystros was executive manager at Lloyd's syndicate Procare Claims and Risk.
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- September 3 2024
Insurers brace for claims as wild weather hits southern Australia
The severe weather including damaging winds, major floods and coastal hazards caused widespread damage across Victoria and Tasmania and left more than 120,000 without power.
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- August 30 2024
Losses from Australia’s costliest nat cat since 2023 rise to US$946m: ICA
Incurred losses for Christmas and New Year storms have increased from the previous estimate of US$905m, according to the latest data from the Insurance Council of Australia (ICA).
