The way Australians renters pay their bonds might be about to change, with the emergence of a number of insurtech companies that are offering to cover rental bonds for them - in exchange for a fee that is.
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A federal senate committee has stated that it is ”deeply concerned” by a lack of transparency in Australia’s $3.1 billion general insurance industry, and has implored the government to adopt a number of recommendations that would improve consistency and comparability between insurers.
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Australians are being reminded about the importance of staying fire safe this winter as a recent analysis by the RAC (Royal Automobile Club of Western Australia) has found that the number of fire insurance claims in WA has increased over the last four years, with majority of the claims being made during winter and early spring.
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Estimates from the State Treasury have revealed that the NSW Government has pulled the plug on the newly developed fire and emergency services levy (FESL). The decision has caused outrage amongst taxpayers thanks to its $25 million price tag.
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Urging the government to clamp down on poor quality property developments, the Insurance Council of Australia (ICA) has warned homeowners that they may start to see their home insurance premiums because of the rise in buildings constructed with questionable materials.
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From 1 July, the NSW Emergency Services Levy applied to home insurance policies, will be replaced by the Fire and Emergency Services Levy, paid along with council rates. But the change might hit Sydney-siders’ wallets harder than expected.
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As Queenslanders wake up to a big clean up following the destructive path left by Cyclone Debbie up and down the state’s North coast, the Big Four banks have been quick to release emergency relief packages for local customers affected by the tropical storm.
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After Sydney was hit with another severe storm yesterday evening, residents are being urged to stay safe and Central Tablelands residents in particular should brace for further inclement conditions.
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Homeowners in Sydney and across the east cost could be in for another wet and wild weekend with rainfall expected to worsen in the comings days.
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As the cleanup from last weekend’s severe storm continues around Sydney, the Insurance Council of Australia has described the Saturday afternoon deluge of hail and thunder as a “catastrophe”.
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