Date Time
Critical repair works to continue during South Australia lockdown
Residents of South Australia should continue to make insurance claims for any damage to buildings or motor vehicles during the current seven-day lockdown, the Insurance Council of Australia said today.
In support of the Level 5 Restrictions, insurers will cease all non-critical building repairs until restrictions ease.
Critical building repairs are permitted to continue under the restrictions and these include:
Emergency make-safes (these occur following damage and are necessary to ensure the property and residents are safe and secure)
Necessary repairs to ensure a home is habitable (eg, repairing a bathroom, kitchen or hot water system if necessary for the resident to remain in the home)
Business Insurance in Australia: Entrepreneurs See The System As Fair By IBTimes Staff Reporter
on July 15 2021 12:32 PM
The Insurance Industry’s PCA coverage ratio increased in the year ended 31 March 2021 to 1.71x.
2021 showed a yearly percentage change of -28.3% according to the APRA
Australia s robust insurance market is split into three sub-categories. These are: life insurance, health insurance and general insurance. These sectors are fairly independent, with most large insurance companies specialising in only one type.
Having said that, companies have recently widened their scope of application by segueing into a field that addresses more general services- including financial ones, and have consequently come face to face with fierce competition from private banks and other colossals within the investment industry.
Insurance Council of Australia: Deferred Sales Model a Win for Insurers, Consumers insurancenewsnet.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from insurancenewsnet.com Daily Mail and Mail on Sunday newspapers.
Millions of dollars in COVID-19 insurance claims hinge on upcoming test case
The Brighton Savoy Hotel in Brighton Melbourne. Source: Supplied.
Small businesses are anxiously waiting for the Federal Court to hear a second business interruption test case that could see insurers pay out millions of dollars in claims to clients who suffered losses due to pandemic restrictions.
In the upcoming test case, the court will determine what triggers are required for businesses to be eligible to make a claim under their business interruption policies provided their policies refer to the superseded
Quarantine Act.
Michael Lee, managing director at the Brighton Savoy Hotel in Melbourne, says his insurance provider rejected his claim early last year on the basis that his policy excluded pandemic cover and there hadn’t been a positive case of COVID-19 inside his business.
Deferred sales model a win for insurers and consumers miragenews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from miragenews.com Daily Mail and Mail on Sunday newspapers.