Claims Examples

Householders Claims are very real and usually it is more than just a Fire of your most valuable assets, it is usually a time you realise how inadequate your cover may be particularly when it comes to under-insurance, certain policy exclusions and low sub-limits on policies.

Get good advice! Unfortunately direct insurers are limited on the advice they can give and can only really comment on the positives of their product, Insurance Brokers do give personal advice and will cost more because they seek out broader cover to meet the needs of their clients and provide a claims service.

Think about what happens if you were to have a disaster happen to your home. These examples can make you think about these very real risks.

Melbourne House Fire suspicious

NSW Bushfire reached doorsteps of homes

Rockingham Home destroyed by Fire

Port Augusta Home deliberately lit

Householders Liability - trip and fall on wire mesh

House Fire in Ballarat - 3 feared dead

Latest News

D&O premium pool ‘must treble’ to return to profitability

A new report – called "Show Me The Money!" by insurer XL Catlin and law firm Wotton + Kearney – is the second in a series of three white papers on securities class actions and their impact on the Directors & Officers Liability (D&O) market. The main conclusion is that Directors’ and officers’ (D&O) insurance premiums are under-priced significantly and need to rise strongly to restore profitability. The main risk areas are those exposed to securities class actions, 

It says Directors & Officer's Side A, Side B and Side C cover has been chronically underpriced since at least 2011, while the frequency of class actions is increasing as more plaintiff lawyers and litigation funders enter the space.

The analysis suggests last year’s overall premium pool of about $210 million would need to increase by at least three times to establish a profitable market, if it is assumed all other factors stay unchanged.

“Recent market developments would indicate most D&O insurers are now endeavouring to restore some semblance of profitability to their portfolios after years of market losses,” the report says.

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75% of Cyclone Debbie claims settled

In the 6 months since Cyclone Debbie devastated Queensland and parts of northern New South Wales:

• more than 31,000 homes and business have been repaired or received settlements from their insurance company

• more than 20,000 families have had possessions replaced

• more than 4,500 motor vehicles have been repaired or new vehicles provided

• hundreds of local builders and trades have been working on properties to repair the damage and destruction caused by the cyclone

• over $5 million has been paid EACH DAY to assist local communities, residents and businesses.

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