The General Insurance Code of Practice is a voluntary code that sets minimum standards for the way in which consumers can expect their insurer to behave from the start of a policy to claim time. All m [..]

The Australian Prudential Regulatory Authority is the prudential regulator of Australia's financial services industry. It oversees insurers and other financial services businesses such as bank [..]

When you apply for an insurance policy, or renew or extend your existing policy, you have to tell the insurer everything about you and your situation that is relevant or could reasonably be expected t [..]

See discount.

This is an external dispute resolution service that is not for profit and provides free, fair and impartial services to consumers and financial service providers such as insurers where they are unable [..]

Fraud is when someone deliberately lies or exaggerates details in a claim to get money or compensation dishonestly. It costs insurance companies an estimated $2 billion a year and adds about $75 to ev [..]

Financial loss is;

Financial hardship means a reasonable inability to meet debts, contracted payments, bills or daily living expenses due to life circumstances, such as losing your job or suffering from an illness. In r [..]

Total replacement cover pays out the full amount required to replace damaged property with new property, without taking into account the depreciated value of the property over time. This is opposed to [..]

Total loss occurs when an asset (such as your home)is so badly damaged that it is beyond economic repair. Depending on the terms of the insurance policy, a total loss will usually attract the maximum [..]