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Insurance News
IAG Reports $505 Million Profit Amidst Severe Weather Challenges
05 Jun 2026: Paige Estritori
Insurance Australia Group (IAG), one of Australia's leading insurers, has reported a net profit after tax of $505 million for the first half of the 2026 financial year. This performance reflects the company's resilience and strategic management amidst significant challenges posed by severe seasonal weather events. - read more
Navigating Rising Input Costs in Australia's Construction Industry
05 Jun 2026: Paige Estritori
Australia's construction sector is currently grappling with significant challenges as rising input costs impact project budgets and timelines. Factors contributing to this trend include: - read more
ICA Calls for Investment in Hard Mitigation Infrastructure Amid Disaster Fund Applications
05 Jun 2026: Paige Estritori
The Insurance Council of Australia (ICA) is advocating for a strategic focus on hard mitigation infrastructure as the federal government's Disaster Ready Fund opens its fourth round of applications. With up to $142.5 million available, the ICA emphasises the importance of investing in physical projects that directly reduce disaster risks. - read more
Zurich's Acquisition of ClearView Wealth Gains ACCC Approval
05 Jun 2026: Paige Estritori
The Australian Competition and Consumer Commission (ACCC) has granted approval for Zurich Financial Services to acquire ClearView Wealth, a move that signifies a notable consolidation within the Australian insurance industry. This acquisition is poised to reshape the competitive landscape, with potential implications for policyholders and the broader market. - read moreStart Here !
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Knowledgebase
Subrogation:
An insurance carrier may reserve the "right of subrogation" in the event of a loss. This means that the company may choose to take action to recover the amount of a claim paid to a covered insured if the loss was caused by a third party.
An insurance carrier may reserve the "right of subrogation" in the event of a loss. This means that the company may choose to take action to recover the amount of a claim paid to a covered insured if the loss was caused by a third party.