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| Insurer Penalized for Mishandling Storm Damage Claim 23 Jan 2025: Paige Estritori In a recent development, Auto & General has been instructed to both apologize and compensate a Brisbane property owner with a $2000 payment after an inadequate review of his storm damage claim led to an initial denial of coverage and subsequent policy cancellation. - read more |
| Travel Insurance Dispute Highlights Pre-Existing Condition Clause 22 Jan 2025: Paige Estritori In a recent case that underscores the importance of understanding insurance policy clauses, a man who cut short his vacation in the United States to be with his terminally ill sister-in-law has been denied an insurance payout. The ruling, made by the Australian Financial Complaints Authority (AFCA), favored the travel insurer due to the claimant’s lack of coverage for pre-existing medical conditions of relatives. - read more |
| Dutton Calls for Urgent Solutions as Insurability Crisis Hits Halls Gap 22 Jan 2025: Paige Estritori Peter Dutton, the leader of the Coalition, voiced pressing concerns over the growing issue of 'uninsurable risks' during a recent visit to the fire-stricken tourist town of Halls Gap in Victoria. The picturesque location, frequently visited by tourists, experienced significant bushfire disruptions over the Christmas holiday, highlighting broader insurance challenges. - read more |
| Storm Devastation: Over 11,000 Claims Filed in NSW and ACT After Severe Weather 21 Jan 2025: Paige Estritori The recent onslaught of electrical storms that lashed across New South Wales (NSW) and the Australian Capital Territory (ACT) has resulted in a flurry of activity from the insurance industry, as shown by the impressive number of claims filed. In an eventful week of wild weather, the Insurance Council of Australia reported an influx of 11,366 claims tied to the severe storms that began on January 15. - read more |
| Severe Weather in Eastern Australia Sparks Insurance Claims Spike 17 Jan 2025: Paige Estritori Recent storms sweeping across New South Wales and parts of Queensland have led to a surge in emergency calls and insurance claims, as residents grapple with the aftermath of strong winds, heavy rainfall, and hail. This extreme weather has posed significant challenges to numerous households and businesses, prompting a rallying cry for assistance. - read more |
| Broker Sentenced for Fraudulent Builders’ Insurance Scheme 15 Jan 2025: Paige Estritori In a significant legal crackdown, a broker has been sentenced for his involvement in selling fraudulent builders’ warranty insurance to construction firms in New South Wales. This case underscores the urgent need for regulatory vigilance in the insurance sector. - read more |
| LA Wildfires Set to Shatter Insurance Loss Records 14 Jan 2025: Paige Estritori Recent wildfires in Los Angeles are projected to lead to unprecedented insured losses, potentially exceeding $20 billion USD (approximately $33 billion AUD). This alarming situation underscores the escalating risks associated with natural disasters, as communities brace for the fallout from this catastrophic event. - read more |
| Catastrophe Bonds: The Future of Cyber Risk Management 07 Jan 2025: Paige Estritori As digital threats escalate, the financial sector is looking at innovative methods to enhance cyber risk management, with catastrophe bonds emerging as a pivotal tool. The Geneva Association emphasizes the necessity of alternative risk transfer solutions to mitigate the burgeoning cyber protection gap. - read more |
| Insured Value Disputes: A Closer Look at Claims Resolution 06 Jan 2025: Paige Estritori A recent case has sparked significant discussion around the complexities of insurance claims, focusing specifically on the insured value of personal items like jewelry. A claimant who had a gold necklace insured for $31,500 found himself at odds with his insurer, QBE, after reporting the item's loss. - read more |
| Insurance Landscape Transformed: New Advice Reforms on the Horizon 02 Jan 2025: Paige Estritori As the financial services industry braces for a wave of transformative reforms, the Australian government’s introduction of regulations permitting insurers to offer 'simple' guidance marks a pivotal moment. This initiative is expected to enhance consumer outcomes significantly, positioning the sector for a more adaptive future. - read more |
We are a proud member of the Financial Services Online network!
Connect with us on your favourite social media platform for the latest financial news, views, tips, tricks, resources and information.
| Liability Risks: What Small Businesses in Australia Should Know Welcome to our comprehensive guide on liability risks for small businesses in Australia. The world of business is fraught with challenges, and one often overlooked aspect is the array of potential liabilities that can stifle growth or even lead to catastrophic financial loss. It's crucial for small business owners to grasp the critical role that insurance plays in the protection and longevity of their ventures. - read more
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| Freelancer or Employee? Understanding the Difference and the Liability Implications The contemporary business landscape in Australia is witnessing a significant shift towards the gig economy, with a growing number of professionals opting for the flexibility and autonomy that freelancing offers. This trend has not only revolutionized the way work is performed but has also introduced new dynamics in the legal distinctions between freelancers and traditional employees. - read more
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| How to Assess Your Risk Exposure and Select the Right Indemnity Coverage Professional indemnity insurance stands as a pivotal safeguard for Australian professionals navigating the intricacies of liability in their work life. This form of insurance is designed to protect professionals against legal costs and claims for damages arising from acts, omissions, or breaches of professional duty in the course of their practice. Whether it's due to an honest mistake or an unforeseen error, the ramifications of such professional oversights can be financially crippling. - read more
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| The Impact of Environmental Liability on Australian Business Operations In today's ever-evolving business landscape, the significance of environmental sustainability and legal accountability is increasingly paramount. Australian enterprises, in particular, are encountering a growing need to understand and manage environmental liability. This reality not only influences corporate image but also carries substantial financial and legal ramifications. - read more
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Critical Risk Management Strategies for Every Australian Tradesman Welcome to the crucial world of risk management for Australian tradesmen. Whether you're a seasoned professional or just starting, understanding and mitigating the inherent risks in the trades industry is paramount to both the safety and sustainability of your business. This article intends to guide you through the world of risk management, emphasizing the pivotal role of liability insurance. - read more
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Liability Risks: What Small Businesses in Australia Should Know Welcome to our comprehensive guide on liability risks for small businesses in Australia. The world of business is fraught with challenges, and one often overlooked aspect is the array of potential liabilities that can stifle growth or even lead to catastrophic financial loss. It's crucial for small business owners to grasp the critical role that insurance plays in the protection and longevity of their ventures. - read more
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Public Liability Insurance Claims: What to Expect and How to Prepare When it comes to navigating the complex waters of insurance, understanding public liability insurance claims is crucial for businesses and individuals alike. Public liability insurance serves as a safeguard, protecting against the financial repercussions that arise from accidents or injuries that occur on your premises or through your operations. In this introductory section, we will delve into the essence of public liability insurance and underline its significance. - read more
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The Impact of Environmental Liability on Australian Business Operations In today's ever-evolving business landscape, the significance of environmental sustainability and legal accountability is increasingly paramount. Australian enterprises, in particular, are encountering a growing need to understand and manage environmental liability. This reality not only influences corporate image but also carries substantial financial and legal ramifications. - read more
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