Taxpayers face having to pay for higher insurance premiums on major projects after the Porter Davis collapse hit the state insurance agency’s budget.
Australian insurers expect premiums to continue rising this year despite growing concerns about affordability and the growing impact on the country’s inflation figures.
The rocketing cost of home insurance makes the savings from shopping around particularly worthwhile.
Victorian customers of a builder that has gone under have been stranded without insurance and are now pleading with the state government to revive the bailout program introduced after the collapse of Porter Davis.
More than 1300 domestic building cover claims are still awaiting settlement from the state-backed insurance agency after the collapse of Porter Davis and other building firms.
Prime Minister Anthony Albanese has pledged further support for victims of Victoria’s damaging floods as the clean-up continues and some communities remain under threat.
Insurance increases – and some areas being declared uninsurable – are a price signal from a hotter,riskier planet. Will they end up driving our adaptation to the climate crisis?
The insurer says premiums for car and home insurance have been increasing at double-digit rates,and prices will continue to rise.
There have been observable improvements in the quality of recently completed apartment buildings in NSW.
The federal government is launching an inquiry into how insurers handled the 2022 floods,as families battle insurers months on from the disaster.
Introducing an “abandonment trigger” could help as many as 570 customers a year who are currently unable to make claims.