A new report has revealed the most common ways Australian drivers damage their car, and why it is best to have comprehensive car insurance to be prepared for anything that happens on the road. The survey of 2,000 Australians found that being rear-ended by another vehicle is the most common cause of car damage, with […]
OUTDATED MEDICAL DEFINITIONS RAISE RISK OF CLAIMS DENIAL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 […]
MEDIA & ENTERTAINMENT INDUSTRY NOT READY FOR CYBER RISK
More than half of media and entertainment firms experienced three or more cyberattacks over a 12-month period, according to a new survey from specialist insurer Hiscox. “Media and entertainment firms are uniquely vulnerable to cyber crime,” Hiscox said in a news release. “High-profile products and complex production processes, coupled with the media and entertainment industry’s […]
CYBER MARKET TO DOUBLE IN SIZE BY 2020, GLOBAL INSURER SAYS…
Munich Re has estimated that the cyber insurance market will double by 2020, thanks to an increase in the use of connected devices and the subsequent surge of complex risks associated with such systems. The German company shared its business forecast during the Rendez-Vous event – an annual meeting of reinsurers in Monaco earlier this […]
RESPONSE TO CALLS FOR MANDATORY TRAVEL INSURANCE
Last week saw NSW Health Minister Brad Hazzard call for all tourists visiting Australia to require mandatory health insurance. “Every time an uninsured visitor does not pay for their treatment in one of our public hospitals, taxpayers foot the bill,” he noted on Thursday last week. Every year, uninsured visitors account for roughly $30 million in […]
FAR OUT FRIDAY – SPACED-OUT INSURANCE POLICIES
We’re often told to “reach for the stars” in our endeavours – but it’s not usually meant so literally. Yet many insurers around the world have done just that, by offering insurance against alien abduction. Promising a range of benefits, including covering medical and psychiatric costs, alien abduction policies tend to be quite generous in […]
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 […]
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