Entries by admin

Queensland cyclone victims lodge more than 5000 claims

SOURCE: insuranceNEWS.com.au Cyclone Marcia in Queensland has so far prompted more than 5000 claims from car and property-owners, according to the Insurance Council of Australia (ICA) today. By 1pm, ICA had estimated reserved losses at $33 million. The Category 5 storm mainly hit the coastal towns of Yeppoon and Rockhampton on Friday, causing floods and cutting […]

Higher Excess can mean Lower Premiums. Not always a good move

Most insurers will allow you to increase your excess to reduce your premium. Why? Because when you increase your excess it shifts some risk from the insurer back to you. It represents a saving for insurers, as they no longer have to pay out numerous small claims. Often people see a higher excess as one […]

MP Michelle Landry’s Speech to Raise Awareness for Prostate Cancer

Ms LANDRY (Capricornia) (09:51):  Today I urge all men in Australia to give their walnut-sized prostate a name and take him to the doctor for a health check. This is a novel concept that I launched in my electorate of Capricornia. The aim is to raise the profile of prostate cancer, which kills more men […]

Corporate Travel Insurance

A BETTER WAY TO GO  Attention business owners! Did you know that as a director of a registered business entity, a corporate travel policy is valid for both your business and your leisure travel? The cover can also include additional business executives and other employees on the move. While many entry-level travel insurance policies contain various […]

Aliens, Meerkats or Brokers?

WHEN BUYING INSURANCE, WHICH WAY TO GO? Whilst it’s true to say that the TV ads of the Direct Insurance Marketers are very ‘catchy’ and ‘humorous’, prospective buyers of these classes of insurance from these vendors should be aware that the product being promoted is actually ‘protection’: protection of the livelihoods, incomes and assets of […]

Third party manufacturers

PITFALLS FOR AUSTRALIAN SUPPLIERS Australian Consumer Law (ACL) provides a national framework for consumer protection in the supply of goods and services. Under the ACL, the definition of a “manufacturer” of goods is broader than just the enterprise that makes the goods – it is defined as including a person (includes a company or partnership) who: […]

Letter of Authority or Letter of Appointment

WHICH ONE FOR WHAT PURPOSE? As the dust settles on another financial year it is worth looking at some issues that continue to have an element of confusion for all concerned. One of these is the role of an insurance broker in relation to two widely used industry documents – the letter of appointment and […]

Travel Compensation Fund Scrapped

HOLIDAY PLANS AT RISK Nothing spoils a holiday more than being stranded following the financial collapse of a travel operator. Until recently, a traveller’s problems with a travel agent or transport operator going belly-up had some protection offered by the Travel Compensation Fund. This government legislated fund compensated travellers if the operator or agent collapsed […]

Employers’ Rights

WORKCOVER CLAIMS QUESTIONED Employers are sometimes faced with a situation where they disagree with a decision of WorkCover to accept a claim for statutory benefits made by one of their employees who allege that they have been injured during the course of their employment. The employer may disagree with the acceptance of the claim for a […]