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Insurance News

NRMA's Departure from Farm Insurance: What It Means for Australian Farmers

05 Oct 2025: Paige Estritori

In a significant shift within the Australian insurance landscape, NRMA has announced its withdrawal from the farm insurance sector, ceasing the sale of new policies as of July 1, 2025. This decision leaves many farmers seeking reliable alternatives to safeguard their livelihoods. - read more

Diversification Drives New Insurance Needs for Australia's Small Farms

26 Sep 2025: Paige Estritori

In the evolving landscape of Australian agriculture, small commercial farms are increasingly diversifying their operations to enhance income and sustainability. This shift, while offering economic benefits, introduces new complexities in risk management and insurance coverage, presenting both challenges and opportunities for insurance brokers. - read more

Satellite Technology Revolutionizes Crop Insurance for Australian Farmers

26 Sep 2025: Paige Estritori

In a significant advancement for Australian agriculture, Insurance Facilitators (IF), a family-owned underwriting agency, has introduced a data-driven crop insurance solution leveraging satellite technology. This innovative approach aims to address longstanding challenges in the industry, including premium leakage and risk accumulation, by providing more accurate and efficient risk assessments. - read more

ASIC Takes Legal Action Against RACQ Insurance Over Misleading Premium Comparisons

25 Sep 2025: Paige Estritori

The Australian Securities and Investments Commission (ASIC) has initiated Federal Court proceedings against RACQ Insurance, a subsidiary of Insurance Australia Group (IAG), alleging that the insurer misled over 570,000 customers through deceptive premium comparison pricing in renewal notices issued between September 2019 and December 2024. - read more

Surge in Farm Impact-Related Claims Raises Safety Alarms

25 Sep 2025: Paige Estritori

WFI Insurance has reported a significant 44% increase in farm impact-related claims over the past year, marking the highest level in four years. This surge includes incidents such as vehicle crashes and crush injuries, with approximately 1,800 claims related to farm vehicle accidents, including those involving quad bikes and side-by-side vehicles (SSVs). Many of these incidents have resulted in severe injuries, including fractures and head trauma. - read more

Rising Insurance Premiums for Farm Machinery Amidst Increasing Extreme Weather Events

25 Sep 2025: Paige Estritori

Australian farmers are grappling with a significant rise in insurance premiums for farm machinery, driven by the increasing frequency and severity of extreme weather events. Some farmers have reported that their insurance bills have more than doubled over the past few years, with annual premiums exceeding $100,000. - read more

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Farm Insurance Articles

The Impact of Weather on Farm Insurance Rates: What You Should Know

Farming in Australia is a dynamic venture that requires careful planning and management. One of the crucial aspects every Australian farmer should consider is farm insurance. It provides a safety net against potential financial losses arising from various risks. These include natural disasters, damage to crops, livestock issues, and accidents on the farm property. - read more

Common Myths About Farm Insurance Debunked

Whether you're a seasoned farmer or just starting out, understanding farm insurance is crucial. It's more than just a safety net; it's a way to ensure that your farming business can withstand unforeseen challenges. By safeguarding your livelihood, farm insurance offers peace of mind amidst uncertainties. - read more

How to Choose the Right Farm Insurance Policy for Your Needs

Farm insurance is a type of coverage designed specifically for the unique risks and operations involved in farming. It encompasses protection for farm dwellings, equipment, livestock, and crops, offering a tailored approach that reflects the diverse needs of farm owners. This coverage can help safeguard your livelihood against unforeseen events that could disrupt farm operations or result in significant financial losses. - read more

Preparing for the Worst: Developing a Comprehensive Disaster Response Plan for Your Farm

As a farmer, you know that unexpected events can have a significant impact on your farm and your livelihood. Natural disasters, such as floods, fires, droughts, and storms, can occur at any time and have devastating consequences. That's why it's crucial to have a comprehensive disaster response plan in place to protect your property, assets, and, most importantly, your loved ones and livestock. - read more

Is Your Farm Under-Insured? Tips for Assessing Bushfire Insurance Adequacy

The threat of bushfires looms large over the vast expanses of rural Australia, shaping the reality of farming in this sunbaked landscape. The risk, always present, escalates as the climate warms and dry conditions persist. It's not a matter of if, but when the land will be tested by fire's wrath. In this environment, the armor of insurance isn't just recommended; it's critical for survival. - read more

Income Protection for Farmers: Ensuring Stability Through Tough Times

The world of farming is one filled with uncertainties. Weather conditions, market prices, and various other factors can create a highly volatile income stream for those within the agricultural sector. This unpredictability can lead to financial instability that impacts not only the farmers themselves but also their families and the larger rural community. - read more

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Knowledgebase

Coinsurance:
A percentage of the cost of a covered healthcare service that you pay after you have paid your deductible.

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