Total breaches of Code obligations have increased for a third consecutive year according to the latest report released by the Life Insurance Code Compliance Committee (Life CCC).
Patients are being hit with rising private health insurance bills as their providers funnel significantly more money into "management expenses", dwarfing any spending increase on rebates and benefits.
The standardisation of natural hazard definitions will be unlikely to achieve premium reductions in isolation, says the Insurance Council of Australia (ICA).
Millions of Australians have been left high and dry without adequate insurance, according to new research by Finder, which operates a financial comparison platform.
The Australian Prudential Regulation Authority (APRA) says that it will shortly commence a voluntary survey of its regulated entities, including insurers and superannuation funds, asking them to self-assess the maturity of their current practices against its guidance on managing the financial risks of climate change.
Brisbane-headquartered Suncorp Group yesterday announced that it had signed a share sale and purchase agreement with Resolution Life, Resolution Life Group's holding company in Australia and New Zealand (Resolution Life), to sell its New Zealand life insurance business, Asteron Life.
With the Prudential Standard CPS 230 coming into effect on 1 July 2025, Xceedance business leader - key accounts in Australia Prateek Vijayvergia said that Australian insurers and underwriting agencies should start planning for the "systemic change needed to ensure compliance".
PERILS, the independent Zurich-based organisation providing industry-wide catastrophe insurance data, has disclosed its second industry loss estimate for the Australia Christmas Storms.
Almost a quarter of insurance brokers polled in a survey say they wish they could be more productive in their role and 25% say profitability is one of their biggest challenges for the year ahead.
More than 15 million Australians will have their private health insurance premiums rise by more than 3% in the biggest increase in five years.