Insurers’ billions untouched in run on banks

US Insurers have billions in deposits in troubled banks but there are few signs the banking sector’s problems are reaching the industry, ratings agency AM Best reported today in BestWire.

Court rejects out-of-time damages claim

A Malaysian worker, who was left paraplegic after a workplace accident, has lost his bid for damages in the NSW Supreme Court and ordered to pay costs after his legal team failed to follow procedures when filing his claim out of time under Vic workers compensation laws.

Group insurance still needs to improve

Superannuation trustees have started to make changes to better meet their members’ needs but some still need to improve their member communications and claims processes, which “is simply not good enough”, ASIC commissioner Danielle Press told the Australian Institute of Superannuation Trustees last week.

‘At critical juncture’: Suncorp CEO

After more than a century of allowing residents to build in harm’s way, the community needs to better support those who are paying the emotional and financial price, Suncorp group CEO and MD Steve Johnston says.

APRA grants GI licence to PetSure

PetSure (Australia) claims it has becomes the first general insurer in Australia solely dedicated to pet health insurance, after APRA granted it licence to operate under the Insurance Act 1973 (Act).