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Insurance News

Insurance, Australia, New South Wales, Sydney

Your trusted source for the latest insurance industry news and insights, delivering timely updates to keep you informed.

About Insurance News

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Basics

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Main Office
Australia, New South Wales, Sydney
Official Website
http://www.insurancenews.com.au
Location Address Official Phone Email
Australia, New South Wales, Sydney Australia, New South Wales, Sydney **** ****
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FAQs – Insurance News

What are the FCA’s rules on insurance policy renewals?

The FCA requires insurers to inform customers about renewal terms clearly, highlight premium increases, and remind policyholders to check if their coverage remains suitable. It also bans automatic renewal practices that unfairly lock customers into higher premiums.


How much does pet insurance for illnesses cost?

Premiums vary based on factors like pet age, breed, location, and coverage level. On average, illness plans cost between $25 and $70 per month.


Can Medicaid be used as secondary insurance?

Yes, Medicaid can act as secondary insurance by covering costs that primary insurance does not, such as copays, deductibles, and uncovered services. Medicaid may also cover medical expenses for those with limited private insurance benefits.


Does NCB affect add-ons and other charges in my policy?

No, NCB only applies to the own-damage (OD) portion of the premium. It does not affect the premium for third-party coverage, add-ons like roadside assistance, engine protection, or zero depreciation cover.


Can an insurance company reject my beneficiary designation?

Generally, no. However, legal restrictions, conflicting designations, or errors in documentation may cause issues that need to be resolved.


Can I join the CPCU Society if I am still a candidate?

Yes, CPCU candidates can join the CPCU Society as student members. This provides access to networking events, educational resources, and mentorship opportunities. Being part of the society while studying for CPCU exams helps candidates connect with experienced professionals and gain insights into the industry.


What happens if a farmer does not receive an insurance payout on time?

If a claim is delayed, farmers should contact their insurer, provide additional evidence if required, and, if necessary, seek assistance from agricultural authorities or legal support.


Can I choose my deductible amount?

Yes, most insurers allow you to choose a deductible amount, typically ranging from $100 to $1,000, affecting your premium costs.


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