Home insurers may be leaving Australians exposed to higher repair costs by using cash settlements in a significant percentage of claims, an ASIC review has found.
The Council of Australian Life Insurers (CALI) has welcomed the federal government's decision to proceed with introducing a new class of adviser for life insurers and APRA-regulated superannuation funds.
Over the coming four years, the Australian Reinsurance Pool Corporation (ARPC) is planning to strengthen delivery of Australia's terrorism and cyclone reinsurance pools, while making greater use of its unique data and insights to support risk mitigation and resilience.
Xceedance has appointed Mr Adrian Spieler to its Board of Directors.
Australia's proposed reduction in the private health insurance rebate for older Australians has raised concerns that higher out-of-pocket costs could prompt some retirees to drop or downgrade their cover, potentially adding pressure to the public healthcare system.
Arch Insurance Australia (Arch) has appointed Mr Dave Ha as Senior Executive Assurance Underwriter.
Key indicators of workplace wellness index have shown minimal movement across Australia and New Zealand in recent years, according to a recent survey.
Zurich Financial Services Australia (Zurich) has appointed Ms Alexis George as Independent Non-Executive Director to its Board.
Australia's National Disability Insurance Scheme (NDIS) is set for a significant revamp after Parliament passed legislation targeting the scheme's rapid cost growth and long-term sustainability. The National Disability Insurance Scheme Amendment (Securing the NDIS for Future Generations) Bill 2026 passed Parliament on 19 August, with the legislation now awaiting Royal Assent. The reforms focus on eligibility, planning and funding arrangements, while giving the government greater powers to oversee providers and address fraud and misuse of NDIS funds.
Suncorp exceeded its A$1.77bn ($1.26bn) natural hazard allowance by A$254m and paid out more than A$10bn in claims. Despite that, the insurer reported a net profit after tax of A$1.03bn, and cash earnings of A$1.04bn.