In an official announcement on FY20 results, Insurance Australia Group (IAG) noted that its top-line gross written premium (GWP) growth was in line with its guidance despite incurring a slightly negative effect from COVID-19 in the second half from lower new business volumes.
New research released by industry campaign Choice & Access to Life Insurance (CALI) warns that if governments and regulators fail to act, then underinsurance will continue to increase across parts of the community as access to advised life insurance becomes further limited.
The Insurance Council of Australia (ICA) and the Australian Financial Complaints Authority (AFCA) have agreed to file a test case considering the application of infectious diseases cover in business interruption policies.
New claims statistics provide insights into the differences between men and women across all three life insurance product lines, according to data released by the Financial Services Council (FSC) in conjunction with Life Insurance Awareness Week last week.
ANZIIF, a professional insurance and financial services association, will be collaborating with SURA, Wotton + Kearney and Liberty Specialty Markets to investigate how experiences of workplace inclusion are affecting the Australian insurance industry especially amidst the COVID-19 pandemic.
The life insurance industry in Australia paid out more than A$12bn ($8.7bn) to 101,821 Aussies and their families during 2019, according to data released by the Financial Services Council (FSC) as part of activities during Life Insurance Awareness Week last week. Income Protection/Disability Income insurance payouts accounted for more than a third of the total sum paid.
A recent survey by global law firm Clyde & Co found that over 52% of insurance industry participants expressed concern about the impact that COVID-19 is likely to have on their employees.
Swiss Re has announced several changes to roles within its Asia management team effective September 2020.
Two of the biggest workers' compensation schemes in Australia are losing millions of dollars a year, according to an investigation into the A$60bn ($43bn) system.
The Australian Prudential Regulation Authority (APRA) has updated its capital management guidance for insurers as institutions continue to manage the disruption caused by COVID-19.