Australia
Swiss Re Life & Health to pause new business in Australia
Swiss Re Life & Health to pause new business in Australia
The move comes amidst growing concern over rising TPD claims.
Clyde & Co welcomes back Yvonne Lam to strengthen insurance team
Lam will focus on transactional, regulatory, and commercial advisory work for insurers.
Why 1 in 7 Australians travel overseas without insurance cover
More than a third said they had seen risky destinations promoted positively.
Why Australians stay loyal to health insurers for 10 years on average
Nearly half of policyholders have never switched health insurers.
Why Australians rate EVs as pricier to insure despite similar costs
Youi’s data shows that EV insurance costs can be comparable to petrol vehicles.
Australia posts $1.3b in insured losses from major disasters
The report also pushes for the proposed $19.8b Flood Defence Fund.
Australia insurers sustain profits on higher premiums, stable claims
Health insurers are likely to see moderate profitability.
1 in 2 Australians seeking mental health care has no private insurance
Younger Australians are most impacted, says Money.com.au.
Australia’s Rest penalised for misleading insurance comms
Rest allegedly activated insurance cover for over 2,000 members without authorization.
Insurance Council of Australia pushes for lower corporate tax rates
The council, instead, recommends creating a A$30.15b flood defence fund.
RACQ accused of sending 570,000 renewal documents with wrong premium
One case allegedly saw RACQ hiking up a customer’s premiums by 40%, said ASIC.
Insurance Council of Australia supports Treasury climate framework
It also called for guidance to cover both decarbonisation and adaptation.
Australians show stronger knowledge of home insurance excess
Versus their Canadian and American counterparts.
Insurers expected to face demand for extended statutory liability cover
Directors and officers will also face higher personal accountability.
Why Australians rely on reviews when picking a health insurer
Younger Australians are the most active in checking reviews.
Proposed net cash flow tax to raise Aussies’ insurance costs: industry body
The council suggested scrapping stamp duties on insurance, amongst others.
Aussie insurance body urges strata law reforms to counter rising premiums
Building defects cost $1.3b annually for residential apartments across Australia.
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