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Insurance News from Insurance For Trucks

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Insurance News
Year: Month:

Broker Ordered to Compensate Client for Uninsured Fire Losses Broker Ordered to Compensate Client for Uninsured Fire Losses
15 Aug 2025: Paige Estritori

A recent ruling mandates an insurance broker to pay nearly $300,000 in compensation to a client after an insurer, QBE, declined a fire claim and cancelled the policy due to nondisclosures. The fire, which occurred in October 2022, severely damaged the commercial premises. QBE asserted that they would have denied coverage had they known about asbestos on the property, among other unreported issues. - read more
Insurance Claim Denied Due to Evidence of Multiple Collisions Insurance Claim Denied Due to Evidence of Multiple Collisions
14 Aug 2025: Paige Estritori

An insurance dispute arose when a driver was refused coverage for car damage after evidence showed involvement in multiple collisions, contrary to her claim. Initially, the woman filed a claim with Hollard Insurance, stating her car had collided once with another vehicle. However, the situation took a turn when forensic data from in-car technology revealed two separate impacts occurring 11 minutes apart. - read more
ASIC Considers Action as Professional Indemnity Insurance Transparency Falls Short ASIC Considers Action as Professional Indemnity Insurance Transparency Falls Short
12 Aug 2025: Paige Estritori

The Australian Securities and Investments Commission (ASIC) has voiced apprehension about the transparency of professional indemnity (PI) insurance amongst holders of the Australian Financial Services Licence (AFSLs). This concern arises from a recent market overview conducted to analyze PI insurance for AFSLs offering personal advice to retail clients. - read more
Traveller Triumphs in Insurance Dispute Over Unexpected Medical Detour Traveller Triumphs in Insurance Dispute Over Unexpected Medical Detour
11 Aug 2025: Paige Estritori

A savvy traveller has successfully challenged an insurance decision after having to make an impromptu stay in London due to a medical emergency. This came after the man needed urgent medical attention following a cat bite he sustained in Albania, which sent him to the UK capital for essential treatment. - read more
Revolutionising Life Insurance: Digital PMARs and Next-Gen Underwriting Revolutionising Life Insurance: Digital PMARs and Next-Gen Underwriting
11 Aug 2025: Paige Estritori

In the age of instant digital services, where everything from basic necessities to luxury items can be delivered in a blink, the life insurance sector in Australia is poised for a transformative change. Historically plagued by lengthy processing times, the sector faces a persistent underinsurance gap, with over a million Australians lacking adequate life protection. The introduction of a digital Personal Medical Attendant Report (PMAR) by Acenda, formerly MLC Life, marks a significant stride towards addressing this challenge. - read more
Victorian Court Approves $34 Million Add-On Insurance Settlement Victorian Court Approves $34 Million Add-On Insurance Settlement
08 Aug 2025: Paige Estritori

A Victorian court has ratified a $34 million settlement in a class action involving add-on insurance products sold by Suncorp. This settlement culminates the legal proceedings surrounding alleged unlawful sales practices. - read more
Study Bolsters Call to Eliminate Insurance Taxes Study Bolsters Call to Eliminate Insurance Taxes
07 Aug 2025: Paige Estritori

Recent research from Victoria University has provided new insights supporting the proposal to abolish insurance taxes in Australia. The study, conducted by Jason Nassios and James Giesecke, examined the effects of varying rates on four primary taxes: personal income tax, goods and services tax (GST), stamp duties, and insurance duties. Unlike previous studies, this research assessed the economic impacts of these taxes as their rates fluctuated, rather than analyzing them at static levels. - read more
Policyholder Triumphs in Machinery Damage Dispute Policyholder Triumphs in Machinery Damage Dispute
06 Aug 2025: Paige Estritori

A recent decision in an Australian Financial Complaints Authority (AFCA) case has ruled in favour of a business seeking coverage for damage to machinery, despite the hiring company not adhering to all prescribed safety guidelines. The matter involved a Winlet 575 Glass Robot that sustained damage when its stabiliser failed during operation. - read more
IVAA Claims Triumphs in Pitch Competition with Fraud Detection Technology IVAA Claims Triumphs in Pitch Competition with Fraud Detection Technology
05 Aug 2025: Paige Estritori

In a notable victory, Brisbane-based IVAA Claims emerged as the winner of the esteemed Beyond the Buzzwords pitch contest. The company, which specializes in jewellery validation assessments and settlement guidance for contents claims, impressed the judges with its innovative approach to tackling insurance fraud. - read more
CALI Advocates for Reforms to Bridge Financial Advice Gap for Young Australians CALI Advocates for Reforms to Bridge Financial Advice Gap for Young Australians
04 Aug 2025: Paige Estritori

The Council of Australian Life Insurers (CALI) has highlighted a significant gap in access to affordable, professional life insurance advice among young Australians. A recent study conducted by CALI reveals that only 11% of 18-to-34-year-olds obtain formal financial guidance, with the majority relying instead on advice from informal and often inaccurate sources such as friends, family, social media, and online forums. - read more
Digitalisation Revolutionises Life Insurers’ Medical Report Process Digitalisation Revolutionises Life Insurers’ Medical Report Process
04 Aug 2025: Paige Estritori

The process of obtaining Personal Medical Attendant Reports (PMARs) has been a significant administrative issue for Australian life insurers. General Practitioners (GPs) often face an overwhelming amount of paperwork, dedicating nearly a full workday each week to administrative tasks. PMARs, essential for assessing applicants’ health for life insurance, have traditionally been cumbersome and time-consuming, with many GPs delaying their completion. However, the development of digital solutions is set to transform this process and improve efficiency drastically. - read more
Kell to Lead Comprehensive Review of Australia's Life Insurance Code Kell to Lead Comprehensive Review of Australia's Life Insurance Code
01 Aug 2025: Paige Estritori

Starting on October 1, a comprehensive review of the voluntary Life Insurance Code of Practice will commence, with a focus on assessing the effectiveness of revisions made to its regulations and standards in 2023. The Council of Australian Life Insurers (CALI) has appointed Peter Kell to lead this independent review and deliver the final report by June 30 next year. - read more
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Truck Insurance Articles

Top Factors That Influence Truck Insurance Premiums Top Factors That Influence Truck Insurance Premiums
Truck insurance is more than just a legal requirement; it's a crucial part of securing your livelihood as a truck owner in Australia. Understanding the costs involved not only helps you budget effectively but also ensures you’re not caught off guard by unexpected expenses. By grasping what your premiums cover and what factors influence them, you can make informed decisions that align with your financial goals. - read more
Why Investing Time in Researching Truck Insurance Can Save You Money Why Investing Time in Researching Truck Insurance Can Save You Money
Truck insurance is a critical concern for both business owners and individual operators within Australia. Given the significant investment that a truck represents, safeguarding this asset with appropriate insurance coverage is not just prudent, but necessary. - read more
Comprehensive vs. Third Party: Which Truck Insurance is Right for You? Comprehensive vs. Third Party: Which Truck Insurance is Right for You?
Truck insurance is a crucial safeguard for anyone operating commercial vehicles on Australian roads. It offers financial protection against a variety of risks that are inherent to the trucking industry. With trucks being significant assets and essential tools for many businesses, the right insurance ensures that you can continue operations without unexpected financial burdens from accidents or other incidents. - read more
Hidden Costs to Watch Out for When Choosing Truck Insurance Hidden Costs to Watch Out for When Choosing Truck Insurance
In today's fast-paced world, ensuring financial security and safeguarding your assets is paramount. This is especially true for truck owners, who not only have to manage their on-road operations but also need to adequately protect their investment. For many, truck insurance is a critical component of financial planning, but it's vital to delve deeper into the structures and costs that these policies entail. - read more
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