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General insurance

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South eastern Australia was inundated by record-breaking floods in the past year, due to the wet La Nina weather system.

Bonanza for insurance stocks tipped to cool as premium growth slows

Investors in insurance giants made bumper returns in 2024. But analysts say conditions will be less favourable this year as the pace of price rises slows.

  • Daniel Lo Surdo

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The 2020 floods in Northern NSW and southern Queensland provided a financial shock for insurers that is still being felt by customers across Australia.

Double-whammy: Household insurance costs to soar again, adding to inflation

Consumers will be hit with another steep rise in their household and car insurance premiums this year as general insurers push revenue growth ahead of rising inflation costs.

  • Colin Kruger
There’s a costly, yet common, clause in many car insurance contracts that may take you by surprise.

How paying car insurance monthly could cost you twice

There’s a costly, yet common, clause in many contracts that may take you by surprise.

  • Nicole Pedersen-McKinnon
A photo provided by the California Department of Insurance shows a bear costume found in the home of a suspect in an insurance fraud case, on Nov. 13, 12024. Footage of a bear rifling through luxury cars was submitted to insurance companies.

Human in bear suit was used to defraud insurance companies, officials say

A video in a California insurance claim appeared to capture a disturbing scene: a brown bear ransacking a Rolls-Royce.

  • Annie Correal
QBE said premium rates increased by an average of 9.1 per cent in its Australia Pacific business.

‘Do promises really mean anything?’ Australia’s largest insurer sued over false promises on discounts

Corporate regulator ASIC is taking QBE to court for allegedly misleading customers about discounts it offered for policy renewals.

  • Sumeyya Ilanbey
Flash flooding hit Molong in 2022.

After 18 months of battling, I’ve lost any faith I once had in our insurance industry

The government’s report slaps our insurance industry over the wrists without enforcing change. For flood-prone areas, that means waiting for 2022 to repeat itself.

  • Kirsty Evans
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Flooding in Forbes NSW in November 2022. Record floods destroyed crops and wiped out roads critical for harvest.

Insurers told to clean up their act in high-risk flood zones

A parliamentary inquiry found households reeling in the aftermath of devastating floods were let down by insurers, and recommends banks stop lending money for property in highly flood-prone areas.

  • Sumeyya Ilanbey
Electric vehicles

NRMA insurance chief pushes for EV battery testing to be part of roadworthy checks after spate of fires

NRMA insurance chief Julie Batch says “busting EV myths” is critical if the nation wants to encourage a more rapid transition to a greener fleet.

  • Sumeyya Ilanbey
Debris outside of businesses in the NSW town of Lismore following the 2022 floods.

Thirty per cent jump in households facing home insurance stress

Soaring premiums have driven an extra 300,000 households into financial stress.

  • Shane Wright
APRA says banks with proper IT systems and governance should be comfortable starting to experiment with AI.

Watchdog sets sights on insurers as premiums, complaints soar

Amid a surge in insurance premiums, the corporate regulator says acting against insurance misconduct will be a key focus.

  • Clancy Yeates

Original URL: https://www.theage.com.au/topic/general-insurance-1np7