Yesterday
Cyclone Jasper’s damage bill mounts as rain eases
While rainfall eases in North Queensland, the cost wrought by Cyclone Jasper is rising.
- Updated
- Liam Walsh, Sarah Mitchell and Tess Bennett
This Month
Cancelled holidays hit Queensland tourism operators
Tourism operators around Cairns and Port Douglas are expected to lose $125 million as holidaymakers cancel their summer plans.
- Tess Bennett and Sarah Mitchell
Cyclone insurance back-up scheme likely off-limits for Qld floods
Insurance companies are unlikely to be able to access a Commonwealth reinsurance project to offset costs of paying out victims of the North Queensland flooding, which could lead to a rise in premiums.
- Updated
- Liam Walsh
Deluge swamps Queensland tourist, agriculture zones
Record levels of rain have struck the region and caused one town of 300 people to be evacuated.
- Liam Walsh
Range Rovers become thief magnets, causing prices to tumble
A surge in car thefts in Britain has made insuring high-end models prohibitively expensive, forcing down prices of second-hand luxury cars.
- Jamie Nimmo
Insurers warn of cutting flood cover options or even customers
Insurers have warned some coverage options might have to be changed after devastating floods last year.
- Liam Walsh
- Updated
- Workplace
IAG’s top lawyer in costly departure after ‘conduct breach’
The company’s general counsel, Peter Horton, who had worked at other major companies, has left immediately.
- Updated
- Liam Walsh
November
Couple of sentences could have avoided insurer’s $10m fine
RACQ has been hit with a Federal Court penalty in the latest fallout for insurers and their failures to pass on discounts to policyholders.
- Liam Walsh
Legendary investor Berkshire Hathaway’s Charlie Munger dies aged 99
The legendary investor, who helped Warren Buffett build Berkshire Hathaway into an investment powerhouse, died at a California hospital.
- Updated
- Josh Funk
Credit Suisse has only itself to blame on Greensill, IAG claims
Funds run by the Swiss investment bank say they are out of pocket by $2.8b and should have been covered by Australian insurance.
- Liam Walsh and Jenny Wiggins
Australian inflation grips insurers but QBE sticks to forecasts
Higher costs for home and car repairs remain a sore point, insurers say, signalling more pressure on customers or shareholders.
- Liam Walsh
ACCC poised for $50m blitz on unfair contracts
The watchdog’s ‘ghost flights’ case against Qantas is a warning to other firms that they are on notice for “take or leave” terms in standard consumer contracts.
- Michael Pelly
NSW home insurance bills to be slashed under levy change
NSW Premier Chris Minns will scrap a levy that funds the state’s emergency services, which has added up to 40 per cent to some home and contents insurance bills.
- Updated
- Samantha Hutchinson
Fund managers buy up insurers amid slowdown fears
Worried about the fallout from higher interest rates, investors including Airlie, Paradice and Ophir are favouring insurers over the big four banks.
- Joanne Tran
AACo’s golden director insurance cover unveiled
A leaked proposal shows D&O cover was the most expensive item on an insurance shopping list for the cattle giant, which has not paid dividends for 15 years.
- Liam Walsh
‘Weak board decision-making’: APRA hits RAC Insurance
The prudential regulator’s action against the West Australian organisation marks its latest snap at customer-owned insurers.
- Liam Walsh
October
Insurer review uncovers forecast flaws, black-mould blowout
Insurers are in the business of covering risk, but even they didn’t anticipate how bad 2022’s floods would be.
- Liam Walsh
NRMA to offer home loans funded by Bendigo Bank
Like Qantas, the IAG-owned insurer will distribute mortgages to its customers via an origination platform created by fintech Tic:Toc, funded by Bendigo Bank.
- James Eyers
- Opinion
- Chanticleer
Think geopolitics is risky now? Insurance guru John Neal says just wait
A slew of huge elections in 2024 is heightening risks for corporates, according to former QBE and current Lloyd’s of London boss John Neal.
- James Thomson
Why are analysts so upbeat on IAG?
The insurer’s latest confession about old claims creeping up means it should have missed a key earnings target from last year.
- Liam Walsh
