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Insurance News

Building Resilience: ICA Aligns Floods Inquiry Plan Building Resilience: ICA Aligns Floods Inquiry Plan
19 Dec 2024: Paige Estritori

The Insurance Council of Australia (ICA) is strategically addressing the recommendations from recent inquiries into flood responses and code of practice in its latest updates. Acknowledging the variety and complexity of the suggestions, ICA supports 78 out of the total recommendations presented, tackling them in a staged and structured manner. - read more
Major Acquisitions Shake Up the Australian Life Insurance Sector Major Acquisitions Shake Up the Australian Life Insurance Sector
18 Dec 2024: Paige Estritori

In a significant move estimated at $13 billion, MLC Life Insurance and Resolution Life’s subsidiaries in Australia and New Zealand are set to merge. This development is part of an acquisition involving Nippon Life, a major player in the global insurance industry. - read more
Sure Highlights Coverage Gaps in Cyclone Zones Sure Highlights Coverage Gaps in Cyclone Zones
17 Dec 2024: Paige Estritori

An alarming gap in insurance coverage has been spotlighted by Queensland underwriting agency, Sure, as it drew attention to underinsurance among cyclone-susceptible areas. Their comparison of coverage across the state reveals stark contrasts that could have dire consequences for residents. - read more
Term Life Insurance Fuels Customer Grievances Term Life Insurance Fuels Customer Grievances
13 Dec 2024: Paige Estritori

New insights from the Australian Securities and Investments Commission (ASIC) highlight that term life insurance sparked the most grievances among consumers last financial year. ASIC's newly released internal dispute resolution report indicates that 41% of the complaints were linked to term life policies. - read more
Car Theft Case: Ignition Key Slip Leads to Unexpected Payout Car Theft Case: Ignition Key Slip Leads to Unexpected Payout
13 Dec 2024: Paige Estritori

A recent ruling has shed light on an insurance predicament where a policyholder’s vehicle was taken directly from outside his house while the ignition key remained in the car. Despite this oversight, the couple involved managed to secure compensation for the incident. - read more
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Equipment Insurance Articles

How Much Life Insurance Do I Need? How Much Life Insurance Do I Need?
There are many different reasons to purchase life insurance (generation skipping tax, estate plan, estate preservation, surviving spouse needs, planning for your children's future and more). There is no right amount of life insurance, but here are some guidelines that might help you decide how much life insurance you need. - read more
Making a Claim on Your Boat Insurance Policy Making a Claim on Your Boat Insurance Policy
Boat insurance is a type of coverage designed to protect you financially when unpredictable events arise while you're on the water. When your boat is damaged or causes damage to another vessel, boat insurance can help cover the cost of repairs or reimbursements to third parties. In this guide, we'll go over the basics of boat insurance and how to make a claim on your policy when you need it. - read more
Why Specialist Insurance Brokers are Your Best Bet for Home Insurance Why Specialist Insurance Brokers are Your Best Bet for Home Insurance
Home insurance is a type of policy that helps protect your home and belongings against damages caused by perils such as fire, theft, and weather-related events. It is crucial to have a comprehensive insurance policy in place to prepare for any unexpected events that may occur. However, choosing the right insurer and policy can be a challenging task. With so many insurance providers and products on the market, it can be difficult to find the ones that best suit your needs. - read more
Life Insurance Essentials: Protecting Your Growing Aussie Family Life Insurance Essentials: Protecting Your Growing Aussie Family
Life insurance remains one of the most crucial considerations for new parents aspiring to provide a secure future for their growing families. The arrival of a child marks a transformative moment, redefining priorities and responsibilities. At its core, life insurance is a safety net, designed to offer financial protection and stability to loved ones in the event of an unforeseen tragedy. - read more
Proven Strategies for Australian Farmers to Reduce Farm Insurance Premiums Proven Strategies for Australian Farmers to Reduce Farm Insurance Premiums
Welcome to our comprehensive guide on navigating the complexities of farm insurance for Australian farmers. As an integral part of the agricultural industry, insurance provides a safety net that helps secure the livelihood of farmers against unpredictable events that can lead to financial hardship. From property damage due to natural disasters to loss of livestock or crops, having adequate farm insurance can make all the difference in keeping a farming operation afloat in times of crisis. - read more



Knowledgebase
Peril:
A specific risk or cause of loss covered by an insurance policy, such as fire, theft, or flood.