QBE has announced it will offer mandatory flood cover, they will use the Insurance Council of Australia’s National Flood Information Database (NFID) and there own data to rate the properties risk. New properties with a high flood risk will be rejected and existing client with high risk polices will be offered renewals but at an increased premium. Please note Quotesonline Insurance News is an information service provided by third parties Insure 247 Australia doesn’t warrants the
Do you have a property investment such as an investment flat, unit, apartment or house leased or rented to tenants? Have you ensured it’s properly insured? As one of its many insurance offerings, CGU provides a product for landlord residential property insurance. CGU covers your accidental loss or damage to the building and contents of your rental property, as well as insuring you for a whole series of specified events. In addition, you can choose to add a
A study by the Australian Strategic Policy Institute (ASPI) has warned Australia is entering a new era of catastrophic losses from natural disasters. Analyst Dr Anthony Bergin pointed out a succession of governments had encouraged development in areas prone to natural hazards and that climate change was increasing these risks. Hence, the federal government has been told it might have to subsidise property insurance to ensure those on low incomes are covered for natural disasters. The study reports Australia generally had encouraged
CGU Insurance has asked the Victorian Government to implement a fairer funding model for fire services – a system that doesn’t discriminate against property insurance holders. CGU’s CEO Duncan West said “The current funding model for the Victorian fire services is grossly unfair. It unfairly penalises the members of the community – those with property insurance – by enforcing them to carry the burden of funding fire services
Zurich Financial Services Australia (Zurich) has appointed Mr Howard Williams as its Head of Property for its Global Corporate Division. Zurich focuses on property as part of its key Global Corporate activities. Zurich reported that “Mr Williams will lead the strategic development of the Zurich Global Corporate property portfolio, integrating Zurich’s leading insurance claims capabilities, expertise in risk management and multinational insurance pedigree to provide market leading solutions for
Winsure Insurance Group offers customised insurance solutions for Australian brokers to offer their clients. Winsure was established to meet the insurance requirements of metropolitan and regional brokers in the Australian general insurance market and to address the growing need for increased security in the solutions brokers can provide to their clients. Sydney-based Winsure enjoys the support of brokers throughout Australia. Winsure’s products include general liability, professional indemnity, property insurance, commercial motor, accident and health and marine transit.