Insurers are failing consumers with shoddy data practices
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 handling practices of […]
Confusing insurance definitions for extreme weather events must be standardised
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 to simplify and […]
Governments and insurers should enable the pre-filling of Australians’ driving records and insurance claims histories
Governments should work with the general insurance sector to enable the pre-filling of Australians’ driving records and insurance claims history information required for disclosure purposes at the time of purchase of motor vehicle insurance. This was the key recommendation of the Financial Rights Legal Centre report Automating General Insurance Disclosure which examined close to 400 […]
AssetInsure has strongest family violence policy – desktop audit finds
AssetInsure has the strongest family violence policy in the general insurance industry. This was the finding of a desktop audit undertaken to evaluate the family violence policies of the 47 subscribers to the General Insurance Code of Practice. The 2020 General Insurance Code of Practice introduced new provisions requiring subscribers to have family violence policies […]
Report shows insurance and the law are failing vulnerable Australians facing extreme weather events
Urgent reforms are needed to ensure the nation can adequately respond in the aftermath of future extreme weather events and urgent funding is needed to ensure Australians can get legal assistance when they need it most.
While insurers often provide vital services to consumers well, findings from a new report by Financial Rights Exposed: Insurance problems after extreme weather events reveals that good consumer experiences are far from universal.
The report findings are based on the experiences of more than 700 clients impacted by extreme weather events between November 2019 and April 2021 – from the “Black Summer bushfires” to Cyclone Seroja, and multiple extreme weather events in between.
Financial Rights report reveals risks and opportunities in Open Insurance
Financial Rights Legal Centre has released a landmark report on the concept of Open Insurance – the application of the Consumer Data Right to the general insurance industry. Financial Rights’ Chief Executive Officer Karen Cox said the Open Insurance report by Dr Richard Tooth of Sapere provides vital insights into the risks and opportunities for […]
Letter to editor: The case for repealing Australia’s safe lending laws is flimsy at best and is likely to cause real harm
Letter to AFR editor in response to editorial “Pull lending laws into line with ‘wagyu and shiraz'” which is factually inaccurate and grossly overstates the case for dismantling Australia’s world-leading safe lending regime.
