NDIS taskforce in large-scale insurance fraud raids

The National Disability Insurance Scheme (NDIS) Fraud Taskforce has raided several premises as part of an investigation into large-scale fraud allegedly committed by a western Sydney healthcare practitioner.

London remains dominant market

The London market is still the world’s biggest re/insurance hub, according to London Matters 2020, London Marketing Group’s latest report, which tracks the London (re)insurance market’s growth and development.

Insurers bracing for coronavirus losses

Businesses are increasingly forced to mitigate any potential effect from the coronavirus outbreak originating from Wuhan, China, which could have a serious effect on business as organisations are increasingly forced to mitigate any potential impact, US-based Crowell Moring (CM) warns.

Court fines AMP $5.2m for insurance ‘churn’

Federal Court Justice Michael Lee has ordered wealth manager AMP Financial Advice Pty Ltd to pay a penalty of $5.2m for failing to prevent its financial planners’ churn clients’ insurance policies.

Insurance sector goes before HoR ctee

The House of Representatives Standing Committee on Economics will scrutinise the insurance sector over two days of hearings in Sydney on April 28 and 29, as part of its continued review of the four major banks and other financial institutions.

Insurers slam Choice for spreading fear over ‘fire definitions’

ICA has slammed Choice for spreading fear among bushfire victims with accusations today major insurers AAMI, Coles, Youi and APIA have “confusing, unfair or unclear ‘fire’ definitions” in their home and contents policies, which can be relied on to deny claims.

IAG rejigs for greater customer focus

IAG is stepping up its customer service function after MD and CEO Peter Harmer appointed Julie Batch chief strategy & innovation officer to lead a newly created strategy & innovation division which combines IAG’s existing strategy function with its customer labs division.