Perfect storm: Insurers battle deluge of 500,000 catastrophic claims – Analysis – Insurance News

A series of hurdles have constrained insurers as they battle half a million claims from a series of some of the worst catastrophes ever experienced in Australia. Insurance Council of Australia (ICA) tells insuranceNEWS.com.au, the industry has been hit by 379,368 claims resulting in losses of $5.84 billion from the combined total of three declared … Read more

“Double insurance” or not? CTP insurer recovers 50% of the damages and costs paid to the victim of a car accident from the workers’ compensation insurer

In Insurance Australia Limited v Allianz Australia Insurance Limited [2022] ACTSC 75 (April 14, 2022), McWilliam AJ of the ACT Supreme Court was asked to determine whether a CTP insurer (NRMA) could recover 50% of the common law damages settlement amount it had paid to a worker injured in a car accident for the workers’ … Read more