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Latest news: Insurance

Insurer profits boom to $6.1b after steep premium hikes

Insurer profits boom to $6.1b after steep premium hikes

Insurance companies have collectively banked $6.1 billion in annual profit after raising premiums and facing fewer significant weather events.

'Uninhabitable, mouldy' home prompts insurance lawsuit

'Uninhabitable, mouldy' home prompts insurance lawsuit

'Uninhabitable, mouldy' home prompts insurance lawsuit

'Uninhabitable, mouldy' home prompts insurance lawsuit

The national corporate regulator is taking a leading insurer to court over delays to a storm damage claim that has left a home mouldy and requiring demolition.

Dental body sinks teeth into private health policies

Dental body sinks teeth into private health policies

Dental body sinks teeth into private health policies

Dental body sinks teeth into private health policies

Australia's peak dental body is calling for greater transparency around private health insurance to provide more clarity and protection for policy holders.

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Industry deflects blame as car insurance premiums soar

Industry deflects blame as car insurance premiums soar

Car insurance premiums have soared in recent years but the industry insists it's doing its part to reduce costs and wants government to step in.

Three-year payout row: flood victim's insurance warning

Three-year payout row: flood victim's insurance warning

A flood victim who waited three years for her insurance payout warns the thousands of people making claims over ex-tropical cyclone Alfred to brace for a fight.

Coalition backs away from insurers break-up pledge

Coalition backs away from insurers break-up pledge

Peter Dutton's plan to pursue laws to break up insurance companies who rip off costumers has been knocked on the head by his shadow treasurer.

Allianz fined millions over misleading travel insurance

Allianz fined millions over misleading travel insurance

Insurance giant Allianz Australia has admitted misleading consumers about how much could be paid out under its travel policies.

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Climate risk main reason premiums are rising: insurers

Climate risk main reason premiums are rising: insurers

Climate risk main reason premiums are rising: insurers

Climate risk main reason premiums are rising: insurers

Breaking up big companies is no silver bullet to keep insurance premiums affordable, the sector says.

AMP's first-half profit falls 43pct to $150 million

AMP's first-half profit falls 43pct to $150 million

AMP's first-half profit falls 43pct to $150 million

AMP's first-half profit falls 43pct to $150 million

AMP shares have dropped by double digits after the wealth manager announced it made a $150 million first-half profit, down from $265 million a year ago.

Insurer's first-half profit soars, but shares sink

Insurer's first-half profit soars, but shares sink

Insurer's first-half profit soars, but shares sink

Insurer's first-half profit soars, but shares sink

Favourable weather helped Australia's largest insurer turn a $778 million profit in the first half, but its shares were down nine per cent in morning trading.

Insurance claims flood in after torrential rains

Insurance claims flood in after torrential rains

Insurance claims flood in after torrential rains

Insurance claims flood in after torrential rains

Claims have begun rolling in from a region that pays the highest insurance premiums in the country after communities were ravaged by heavy rain and flooding.

The 'existential' threat facing the corporate watchdog

The 'existential' threat facing the corporate watchdog

The 'existential' threat facing the corporate watchdog

The 'existential' threat facing the corporate watchdog

Corporations and regulators are struggling to adapt to modern business conditions and regular Australians are suffering as a result, says ASIC boss Joe Longo.

More insurance pain possible following LA fires

More insurance pain possible following LA fires

More insurance pain possible following LA fires

More insurance pain possible following LA fires

Insurance premiums are already rising in Australia and destructive fires in the United States may help keep costs high.

Insurance giant sued over 'loyalty tax' on policies

Insurance giant sued over 'loyalty tax' on policies

Insurance giant sued over 'loyalty tax' on policies

Insurance giant sued over 'loyalty tax' on policies

A class action has been filed against NRMA Insurance's parent on behalf of millions of customers allegedly ripped off on home and contents insurance policies.

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Insurers 'price gouging' with secret premium hikes

Millions of Australians are being overcharged by health insurers using a loophole to dodge the rules against raising premiums.

Climate investors told to press ahead despite Trump

A leading economist has urged Australia to line up with countries that support climate action, arguing a Trump administration is likely to sideline US efforts.

Insurer misled with claim on pre-existing conditions

Health insurer HCF wrongly claimed it could deny coverage to someone with a pre-existing condition, even if they had not been diagnosed when signing up.

Insurer's disaster claims running well under budget

Insurer IAG had relatively fewer natural peril claims in the first quarter of 2024/25, but CEO Nick Hawkins says everyone realises how quickly that can change.

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Regulator sues QBE over broken discounting promise

The Australian Securities and Investments Commission has launched civil proceedings against QBE over its discounting claims from 2017 to 2022.

Building bans and buybacks floated for flood zones

A federal investigation into flood insurance failures urges an end to building in high-risk areas and government intervention to stop skyrocketing premiums.

Quit stage diving at concerts, insurers tell musicians

Insurance companies want performers to stop stage diving and throwing things at Australian live music events, an inquiry has been told.

Insurers accused of robbing public on hospital costs

Heath insurers cost NSW taxpayers $140 million annually in hospital costs, the government says, but the sector has accused the state of a tax by stealth.

Tourist hotspots face climate change 'peril'

A report from a global insurance giant reveals half of Australia's tourist hotspots face high risks, and possible "natural peril" from climate change.

Insurance hikes are leaving struggle street unprotected

Natural disasters exacerbated by climate change are resulting in higher home insurance costs with about 1.6 million households now under home insurance stress.

Crying poor claim as insurers accused of price gouging

A crackdown on how insurers respond to climate change has been declared by the corporate watchdog, as a union accuses some of the biggest firms of crying poor.

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