Brokers and businessowners are being warned about the rise of credential stuffing – an illicit online activity which could be the next big cyber threat to hit Australia. First coined in 2011, credential stuffing is the term used when hackers take a username and password, then run it through different sites to see if they […]
Notre-Dame: iconic cathedral had no insurance
The French Government will be footing the bill for rebuilding Notre-Dame de Paris as the cathedral is state-owned and has no private insurance cover against fire and other catastrophes. But Axa, the country’s biggest insurer, is possibly facing huge claims as it provided insurance for some historical items that were housed in the Paris cathedral. […]
Businesses in Australia remain unprotected by terror insuran...
As the Christchurch shootings unfolded on 15 March, the city went on lockdown and businesses had to close their doors. As the lone-wolf style terror attacks become more common, cities respond with closing off entire streets and business districts. Stella Pruscino, Account Director at Edgewise Insurance Brokers has expressed concerns regarding the current exposure for […]
PERILS reveals initial property market loss for Queensland f...
An independent Zurich-based organisation has revealed its initial estimate of the insured property market loss for the catastrophic floods that inundated northern Queensland, and in particular the city of Townsville, between January 26 and February 10. PERILS estimated the initial property loss for the Townsville flood event to be at $957 million. The figure, which is […]
Could Your Airbag Take a Life? It Only Takes a Minute to Che...
If you haven’t already heard, vehicles with Takata airbags across the world have been recalled. When a faulty airbag deploys, there’s a risk the inflator could rupture, firing shards of metal into the vehicle. As many as 2 in 7 cars on Australian roads have been affected by this recall, so there’s a chance that […]
Direct Insurer Faces Storm of Criticism FromCyclone Debbie V...
At Austbrokers Terrace, we manage our clients’ claims for them. While sometimes delays are inevitable, and not everything is covered, we look over the claim process for you for the best outcome possible. Contact us now if you would like a quote. Australian insurer Youi is once again facing a storm of criticism from dissatisfied […]
Far Out Friday – Shooting For The Stars.
In 2018, space travel hasn’t yet become as common as science fiction might have once suggested it would. But with organisations such as SpaceX, Virgin Galactic and Blue Origin touting the potential benefits of civilian space travel and tourism, it’s possible we’ll see it within our lifetime. This is all very fun and exciting, but […]
OUTDATED MEDICAL DEFINITIONS RAISE RISK OF CLAIMS DENIAL
The heat continues to be turned up on the insurance industry, with yesterday’s hearings at the Royal Commission highlighting yet more issues with the life insurance industry. Helen Troup, managing director of CommInsure took the stand, with a particular emphasis being placed on issues surrounding consumer understanding of medical issues vs the legal definitions of […]
TRIO JAILED OVER INSURANCE SCAM
Two brothers and their friend will be locked behind prison bars for years over an insurance scam that included claims for wine, diamonds, and a bouncy castle, worth more than $1m. Dariush and Jahan Mahmoodshahi, along with their friend Peter Molyneux, 26, filed multiple claims for the fake theft of luxury brands – an elaborate […]
MONITORING CLAIMS WITH WEARABLES
Wearable devices – often known as “wearables” – have emerged as a significant force in the tech industry in recent years. Though best-known for consumer applications in the fitness field – such as the Fitbit – wearables have also been utilised in a number of commercial applications too. Warehousing is probably the industry where they […]
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