Financial Rights in the Media – More from the insurer’s response to 2022 flood inquiry
The worst practices of the insurance industry on show in government grilling By Adele Ferguson Monday 12 Feb 2024 at 6:33am, updated Mon 12 Feb 2024 at 10:33am Allan Bush lost his house in the 2022 floods.(Supplied) Allan Bush paid premiums for home and content insurance policy for more than 40 years without ever making a claim […]
Financial Rights in the Media – Insurer’s response to 2022 flood inquiry
Consumer advocates slam ‘appalling’ response from insurance companies in 2022 floods The insurance industry has been slammed by consumer groups over the ‘appalling’ treatment of Australians who suffered through devastating flooding. By Ellen Ransley – 31 January, 2024 Australians who suffered through devastating flooding events in 2022 were let down by the insurance industry, and […]
Save Sorry Business Coalition Media Statement: Latest extension of Youpla Interim Scheme must pave way for culturally appropriate scheme covering Centrepay victims
First Nations consumer advocates from the Save Sorry Business Coalition have greeted the announcement that the Federal Government will extend its Interim Youpla Scheme with a renewed call for the urgent establishment of a fair and culturally appropriate resolution for First Nations people. Advocates recognise that this extension of the scheme until 30 June 2024 […]
Media Release: Lenders must rise to the occasion and support Australians currently doing it tough due to the cost of living crisis
Financial Rights Legal Centre has welcomed ASIC’s open letter to 30 of Australia’s largest lenders calling on them to appropriately support customers experiencing financial hardship. Financial Rights – which helps run the National Debt Helpline in NSW – has seen an increase in callers to our service facing financial hardship. The National Debt Helpline […]
Media Release: Insurers must learn from claims handling failures and lift their game
Financial Rights Legal Centre has called on the general insurance industry to commit to radically improving customer communications. Clear and consistent policies, particularly around ‘wear and tear’ exclusions, also need urgent industry-wide attention. Financial Rights’ call for change is in response to the release of Report 768 Navigating the storm: ASIC’s review of home insurance […]
Broken insurance market failing to protect people in climate crisis: New report
Urgent government action needed to make home and contents insurance accessible and affordable New research from a coalition of advocacy groups has found the home and contents insurance market is failing to protect people against extreme weather events, with customers struggling to access and afford the insurance they need. The report, commissioned by CHOICE, Climate […]
Media Release: New Liquidator Data Reveals ‘Targeted Exploitation’ Of First Nations Communities Through Centrepay System
No ratings yet. Youpla’s liquidators also revealed the company has had over 150,000 policies active at different times between 1992 and 2019, with around 20,000 still active in 2019. This reveals the scale of the harm caused to First Nations communities and provides insight into how their exploitative model relied on ‘churning’ sign-ups and cancellations […]
Insurers are failing consumers with shoddy data practices
No ratings yet. The insurance industry could be relying on erroneous or misleading information concerning consumers and their claims history when quoting, assessing new claims or setting premiums, a damning report commissioned by Financial Rights has found. The report Privacy Practices in General Insurance by Roger Clarke and Nigel Waters examined the data access and […]
Financial Rights welcomes Australian Government’s funding commitment for the Insurance Law Service
No ratings yet. The Financial Rights Legal Centre welcomes the Australian Government’s 2022-2023 Budget commitment of $2.5 million over two years for the centre’s Insurance Law Service. Financial Rights Legal Centre Chief Executive Officer Karen Cox said the funding came at a critical time as without it the Insurance Law Service would struggle to remain […]
Confusing insurance definitions for extreme weather events must be standardised
No ratings yet. Australians who face devastating property losses following natural disasters such as the recent floods confront further hardship when trying to claim on their insurance because of confusing terms and conditions and fine print limitations in their policies. A new report commissioned by Financial Rights Legal Centre has called upon the Australian Government […]
