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Torrential rain during June left waterfront properties in Sydney’s northern beaches teetering on a cliff edge after the force of the sea washed away the land.Not a lot of people are aware that many insurance companies will reject damage claims caused by “actions of the sea” or a “storm surge”. … [Read more...] about Storm surges leave homeowners suffering

I know we all shy away from change in the residential building industry, but what if such a change can greatly benefit both builders and home owners?What if something can be tweaked to make builders shift their priorities and make supervision numero uno?If they do make this their number one … [Read more...] about Why Aren’t Builders Covered Under Professional Indemnity Insurance?

Horror stories about alleged Youi scams and frauds have flooded in after Fairfax revealed allegations of wide scale illegal conduct at the major insurer.Since the story was published on Sunday, August 28, Fairfax has been contacted by more than 140 Youi customers claiming the company took their … [Read more...] about Youi customers share their worst horror stories

Insurance giant Aon says it has brokered more cyber insurance policies to Australian organisations already in 2016 than it did in the whole of 2015, as increasingly high-profile incidents including this month's online census failure spur businesses to think about protection.The company's cyber … [Read more...] about Aon says hacks, attacks and outages cause surge in cyber insurance policies

Policyholders given broad cover, rapid access to Symantec security specialists.The decision to forge a strategic partnership with Symantec is helping Berkshire Hathaway Specialty Insurance Company (BHSI) set the bar for cyber-insurance in Australia by supporting policyholders with rapid access to … [Read more...] about Priority breach response intrinsic to BHSI’s Australian cyber-insurance debut

The Australian Securities and Investments Commission (ASIC) has permanently banned a former NSW director of an insurance broking company, Timothy Charles Pratten, from providing financial services and from engaging in credit activities for "dishonestly obtaining a financial advantage from the … [Read more...] about ASIC permanently bans former insurance company director

An Australian government commissioned report on Tuesday rejected drought insurance for farmers as uneconomical, dashing landowner hopes of a change in government policy which could help boost output to meet Asia's fast-growing food market.Australia is one of the world's largest exporters of wheat, … [Read more...] about Australian farmers left high and dry after report rejects drought insurance