The Australian Securities and Investments Commission (ASIC) has made the decision to sue aggregator InsurTech Choosi for allegedly misleading prospective customers through its funeral and life insurance comparison services.
Arch Insurance International has appointed Mr Ed Short as head of digital. In this newly created role, he will be responsible for executing Arch's digital underwriting strategy, ensuring a cohesive approach across its platforms, which includes Australia.
Canopius has appointed Mr Brodie English as head of casualty, ANZ and Mr Rob Barnum as head of financial lines, APAC.
A new General Insurance Code of Practice, with a redrafted Code that is consumer-centric, modern, fit-for-purpose and contractually enforceable is in the making for the insurers in Australia.
Australian insurer TAL paid out A$4.7bn ($3bn) in claims over the last financial year (31 March 2024 to 31 March 2025) to 54,000 customers, according to figures released. Living insurance, including income protection and total and permanent disability cover, accounted for 74% of the total claims paid.
Halliwell, a forensic and technical consultancy, has expanded its services in APAC following the acquisitions of IMPARTA Engineers, an insurance-focused technical engineering and structural diagnostics consultancy, and asset purchase of du Chateau Chun, a firm of specialist building regulation, code and compliance advisors.
Insurers in Australia have already received 3645 claims as per the latest tally from the Insurance Council of Australia (ICA) even as the floods in the country's Mid North Coast and Hunter and Greater Sydney regions of New South Wales continue to rage.
To date, the Australian Reinsurance Pool Corporation (ARPC) has received 9,399 cyclone claims, with a total incurred value of A$121m ($77.9m), according to released statistics. The cyclone pool, which ARPC operates, targets support to cyclone-prone areas.
Canopius has appointed Mr Mark Butterworth as underwriter - professional lines.
The Council of Australian Life Insurers (CALI) welcomes the appointment of Dr Daniel Mulino assistant treasurer and minister for financial services.