Suncorp Group News

Insurers Distance Themselves from Disputed Australia Coal Project as Backlash Grows

Global insurance companies linked to Adani’s Carmichael coal mine in Australia are distancing themselves from the controversial development, as pressure mounts on financial institutions to cut their ties to the fossil fuel industry. A growing global consensus has seen financial …

Australia’s Bushfires Could Surpass 2009’s Costly Season; Analysts, Insurers Comment

Australia’s bushfire season has months to run and could easily surpass the most costly fire season, 2009’s Black Saturday fires in Victoria, which had a price tag of an estimated A$4.4 billion (US$3 billion), according to Moody’s Analytics, in a …

Insurance Industry Calls for Action to Mitigate Climate Risk as Australia Bushfires Widen

As the devastation from Australia’s bushfires widens, the insurance industry is calling for concerted action to mitigate the impact of climate change. Months of out-of-control fires have burnt an area more than five times the size of Wales and industry-wide …

Trov, U.K.’s Lloyds Banking Group Partner on Digital Renters Insurance App

Trov has rolled out its digital renters insurance application, an end-to-end product brought to market by a unit of Lloyds Banking Group in the U.K. Trov, an insurance technology company, said the product enables renters to activate their base home …

CBA Joins Other Australian Companies with Aims to Cut Coal Exposure

Commonwealth Bank of Australia became the latest company to join a global push to reduce emissions and said it would phase out its exposure to thermal coal or power plants by 2030. The company announced a new environmental and social …

Insurtech Startup Trov Launches in UK, Offering On-Demand Coverage

The on-demand economy, which uses smartphone technology to immediately fill consumer needs, has changed the way people order food, a car, or a place to stay. Now, technology startups are targeting the next business frontier – insurance – offering coverage …

Australian Tropical Cyclones Weaken After Destructive Winds Hit Coast

Two severe tropical cyclones that lashed Australia’s north and east coasts with destructive winds have been downgraded after hitting the mainland. No deaths or injuries have been reported in their wake. Cyclone Marcia has weakened two categories after crossing the …

IAG Said to Consider Bidding for Wesfarmers Insurance Unit

Insurance Australia Group Ltd., the nation’s biggest car and home insurer, is studying a bid for Wesfarmers Ltd.’s insurance unit, according to three people with knowledge of the matter. IAG is in talks with Perth-based Wesfarmers about an acquisition of …