News

There is unlikely to be a surge of women in leadership roles in the insurance industry anytime soon, according to an Australian spokeswoman for Ernst and Young.The comments came after a recent global poll by services firm EY, which revealed that just 6% of insurers believed that there would be a … [Read more...] about Survey indicates higher level of female leaders in insurance unlikely in near future

  Community tip-offs are helping the insurance industry and state government of New South Wales in their fight against insurance fraud linked to the CTP Fraud Taskforce.The Taskforce, launched last month, is already yielding results as members of the public have tipped off the insurance … [Read more...] about State crackdown on insurance fraud gets community support

 How Do You Keep Them? The common misconception is that all you have to do is pay well. Many studies have found that this is simply not the case… in fact, it generally comes in around third or fourth on the employee list of ‘job satisfaction’ priorities. Paying a fair and reasonable salary is … [Read more...] about Good Staff

ASIC has permanently banned a former authorised representative of ACE from the financial services industry as part of an on-going investigation.Abhinav Gupta was an AR of ACE Insurance between October 2013 and May 2014, ASIC said in a statement, operating through the Combined Insurance division in … [Read more...] about Permanent ban for insurance advisor

 Penalties to Hit Harder Recent changes to transport laws now hold more individuals and companies in the transport chain accountable for breaches. The Heavy Vehicle National Law (HVNL) commenced in 2014 and applies in all States of Australia except Western Australia. The legislation applies to all … [Read more...] about Tougher Transport Laws

CGU and Accident and Health International (AHI), a wholly owned entity of CGU, have agreed to refund customers more than $2 million in payday loan consumer credit insurance (CCI) premiums and fees, ASIC has confirmed.The agreement follows court action undertaken by ASIC against The Cash Store that … [Read more...] about Leading insurer to refund over $2 million

A Must-Have For Many Businesses Many business owners are unaware their standard business package insurance will not cover pollution remediation. It’s likely that contractors and other professionals working on major infrastructure and construction projects will have appropriate cover, but the cover … [Read more...] about Pollution Liability Insurance

ACE Ltd. announced it would pay US$28.3 billion in cash and stock to acquire its rival, Chubb Corp., in the largest-ever acquisition between two companies in the insurance industry.ACE shareholders will now own 70% of the new company, which will operate under the Chubb name and be led by ACE Chief … [Read more...] about Largest ever insurance acquisition announced