March
32nd storey deemed ‘flood risk’ in insurance farce
A Melbourne apartment 120m above street level, with no ground storage, was denied contents cover because of a “heightened flood risk”.
- Liam Walsh
February
Insurers on top in spats with customers about flood experts
A federal parliament inquiry is examining how insurers handled claims in the 2022 flooding. There were mea culpas from CEOs on Monday for errors.
- Liam Walsh
January
‘Better than expected’: IAG renews disaster cover
While wild storms have triggered tens of thousands of claims, one insurer says the damage is less severe than could have been.
- Liam Walsh
December 2023
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
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
September 2023
Youi’s profits lift, but some insurer costs become prohibitive
Even as affordability concerns spike, insurers say customers are not dumping cover.
- Liam Walsh
Insurers behaving badly: who will pay the price?
Bloodied carpets. Repair delays. Sly pricing accusations. While investors warm to insurers, government oversight is rising and crackdowns have struck overseas.
- Liam Walsh
This sly algorithm is allegedly targeting loyal insurance clients
The industry has for years had the capability to charge higher premiums for certain people renewing policies.
- Liam Walsh
September 2022
How insurers are countering premium sticker shock
As premiums jump, insurers are tweaking some features that influence whether they can attract customers.
- Liam Walsh
August 2022
AMA cuts insurance repair contracts amid inflation costs stand-off
Amid a game of chicken about who bears spiralling inflation costs, the smash repair giant has lost money and cut some contracts.
- Liam Walsh
May 2022
Home owners in flood-prone areas get wildly different insurance quotes
A mystery shopping exercise by The Australian Financial Review found wildly varying premium quotes for the same properties near recently flooded areas.
- Liam Walsh
April 2022
‘Looming market failure’: KPMG warns on disaster insurance
A “market failure” is looming amid doubts that people will be able to afford insurance in some increasingly disaster-prone areas, KPMG has warned.
- Liam Walsh
March 2022
Wave of disasters forcing ‘double-digit’ insurance premium rises
Upstart insurer Youi has claimed that costs will have to go up after wild weather wiped out towns up and down the east coast.
- Liam Walsh
February 2022
10 alerts: How IAG’s refund debacle snowballed
A discount snafu costing almost half a billion dollars unwound like a slow train wreck, new FOI documents show.
- Liam Walsh
May 2021
Cyber attacks cause insurance premiums to go viral
Insurers are also scaling back how much they will cover for ransomware hits, say brokers Marsh.
- Liam Walsh
March 2021
- Updated
- Floods
Floods to swamp Suncorp for up to $250m
Insurer Suncorp thinks the damage bill for devastating floods in recent weeks could climb to $250 million, higher than estimates from rival IAG.
- Updated
- Liam Walsh
Floods likely to inflate reinsurance costs: Youi
The insurer is wary about estimating a final bill from NSW-Qld flooding, as claims trickle in and disaster chasers descend.
- Liam Walsh
