A small but increasing number of Australian farmers are insuring their crops against drought, and with concern growing about a predicted El Nino and the uncertainties of climate change, many believe this could be the way of the future. When the winter rains failed to come last year, Victorian farmer … [Read more...] about Multi-peril crop insurance: Can insurance against drought help farmers prepare for climate change?
A leading US data protection lawyer has warned Australian businesses that they need to have clear action plans in place to avoid expensive embarrassment, following the introduction of mandatory data breach notification laws in Australia by the end of the year.David Navetta, the US co-chair of … [Read more...] about Litigation, PR disasters and higher insurance costs expected from new data breach laws
Australians are leading the global crusade against bad driving with the help of Roadshamer.com, a website that allows users to upload video and photos of illegal and bad road behaviour.Over 80 uploads from Australia have been received by Roadshamer over the past week- more than any other country, … [Read more...] about Driverless technology set to reduce bad driving and high car insurance premiums
Drones have changed the way we see the world. And with their increased accessibility and affordability, they are capable of changing the way in which insurance assesses risk, processes claims, optimises manpower and reduces fraud.Although drones, or unmanned aircraft, have been used for military … [Read more...] about Drones: four ways insurance might benefit
How Do You Keep Them? The common misconception is that all you have to do is pay well. Many studies have found that this is simply not the case… in fact, it generally comes in around third or fourth on the employee list of ‘job satisfaction’ priorities. Paying a fair and reasonable salary is … [Read more...] about Good Staff
ASIC has permanently banned a former authorised representative of ACE from the financial services industry as part of an on-going investigation.Abhinav Gupta was an AR of ACE Insurance between October 2013 and May 2014, ASIC said in a statement, operating through the Combined Insurance division in … [Read more...] about Permanent ban for insurance advisor
Penalties to Hit Harder Recent changes to transport laws now hold more individuals and companies in the transport chain accountable for breaches. The Heavy Vehicle National Law (HVNL) commenced in 2014 and applies in all States of Australia except Western Australia. The legislation applies to all … [Read more...] about Tougher Transport Laws
CGU and Accident and Health International (AHI), a wholly owned entity of CGU, have agreed to refund customers more than $2 million in payday loan consumer credit insurance (CCI) premiums and fees, ASIC has confirmed.The agreement follows court action undertaken by ASIC against The Cash Store that … [Read more...] about Leading insurer to refund over $2 million