Farm Insurance :: News
SHARE

Share this news item!

New Alliances for Restoration: RACQ Joins RIA Australasia

New Alliances for Restoration: RACQ Joins RIA Australasia

New Alliances for Restoration: RACQ Joins RIA Australasia?w=400

The information on this website is general in nature and does not take into account your objectives, financial situation, or needs. Consider seeking personal advice from a licensed adviser before acting on any information.

In a significant development for the restoration industry in Australia, RACQ Insurance has become the latest insurer to align with the Restoration Industry Association (RIA) Australasia.
This follows closely behind Suncorp's recent membership, highlighting a trend of increased insurer involvement in the sector.

Brodie West, Chair of RIA Australasia, expressed optimism about the future of these collaborations. She stated, “We are in discussions with additional insurers and anticipate further interest in joining our initiative." This growing engagement underscores a collective push to enhance the standards and practices within the industry.

The introduction of an inaugural code of practice is on the horizon, set for launch in early 2025. This code aims to establish a framework that promotes professionalism and accountability among restoration service providers. West added, “RACQ Insurance is an important partner, and its support emphasizes the significance of our upcoming code." This collaborative effort reflects a commitment to improving outcomes for clients and reinforcing the integrity of the restoration process.

Insights gained from recent technical roadshows and strategic consultations have already proven valuable to participating insurers. The rich knowledge base and expertise of RIA members are poised to enhance claims management practices across the spectrum of general insurance. This partnership approach signals a proactive stance toward addressing current challenges faced in the industry, including frequent adverse weather incidents.

Lachlan Patch, a leader in property assessing and repair operations at RACQ Insurance, underscored the urgency of these partnerships, especially in light of the increasing severity of weather events. “With the increasing frequency of severe weather events, collaborations like this are essential to ensure the industry is well-prepared to meet the growing demand for restoration services,” he stated. This sentiment resonates with many in the sector who recognize the necessity for readiness against climate-related disruptions.

RIA, which boasts a foundation dating back to its establishment in the United States, claims to be the oldest and largest non-profit trade organization in the field of restoration. Since launching RIA Inc Australasia in 2019, the organization has focused on expanding its influence and operational support across the region.

This growing momentum among insurers to engage with a trade body dedicated to restoration services reflects a broader shift within the insurance industry. By fostering a collaborative environment, insurers like RACQ and Suncorp are advocating for more streamlined processes and better service provision in the face of climate change challenges.

As the restoration sector navigates through evolving demands, partnerships with dedicated associations like RIA Australasia are likely to play an instrumental role. The combination of technical knowledge, operational experience, and collective industry insights can only serve to enhance the overall resilience of restoration services moving forward.

This partnership development was originally reported by Insurance News Magazine, emphasizing the significance of these newly formed alliances in navigating the complexities of the restoration landscape.

Published:Tuesday, 24th Dec 2024
Source: Paige Estritori

Please Note: If this information affects you, seek advice from a licensed professional.

Share this news item:

Insurance News

WFI Insurance Joins Forces with Farmsafe Australia to Boost Farm Safety Standards
WFI Insurance Joins Forces with Farmsafe Australia to Boost Farm Safety Standards
16 Dec 2025: Paige Estritori
In a significant move to enhance safety within the Australian agricultural sector, WFI Insurance has announced a partnership with Farmsafe Australia. This collaboration is designed to raise awareness about farming hazards and advocate for the adoption of safer work practices among farmers. - read more
Argis Underwriting Partners with Pacific International to Expand Farm Insurance Offerings
Argis Underwriting Partners with Pacific International to Expand Farm Insurance Offerings
16 Dec 2025: Paige Estritori
Argis Underwriting has announced a new partnership with Newcastle-based Pacific International Insurance, enabling the company to resume offering farm insurance coverage across Australia. This development comes after Argis ceased providing new business and renewal terms on its Farm Extra Insurance in April, following the conclusion of a five-year arrangement with HDI Global Specialty. - read more
WFI Insurance Reports Significant Decline in Farm Liability Claims
WFI Insurance Reports Significant Decline in Farm Liability Claims
16 Dec 2025: Paige Estritori
WFI Insurance has reported a notable decrease in farm liability claims across most categories, signaling a positive trend in safety practices within the Australian agricultural sector. The insurer observed a 75% reduction in falls from height over the past year, alongside a 30% decline in impact injuries, marking the lowest level in four years. - read more
WFI Insurance Rewards Sustainable Farming with Premium Discounts
WFI Insurance Rewards Sustainable Farming with Premium Discounts
08 Dec 2025: Paige Estritori
In a significant move towards promoting sustainable agriculture, WFI Insurance has announced a new initiative offering premium discounts to farmers who obtain AgCarE certification. This program, developed by AgForce, aims to recognise and reward farmers implementing eco-friendly practices on their properties. - read more
IAG and Ag Guard Forge Partnership to Elevate Crop Insurance for Australian Farmers
IAG and Ag Guard Forge Partnership to Elevate Crop Insurance for Australian Farmers
08 Dec 2025: Paige Estritori
In a significant development for Australia's agricultural sector, Insurance Australia Group (IAG) has announced a strategic partnership with Ag Guard, a specialist rural underwriting agency. This collaboration will see Ag Guard managing the underwriting for IAG-owned CGU and WFI's crop insurance portfolios starting June next year. - read more
AFCA Mandates Higher Payout for Farmers in Flood Damage Dispute
AFCA Mandates Higher Payout for Farmers in Flood Damage Dispute
08 Dec 2025: Paige Estritori
The Australian Financial Complaints Authority (AFCA) has recently ruled in favour of a farming group, mandating that insurer Achmea increase its payout for flood damage claims. This decision underscores the critical importance of thorough and expert assessments in the insurance claims process. - read more



Farm Insurance Articles

Preparing for the Worst: Developing a Comprehensive Disaster Response Plan for Your Farm
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
Secure Your Farm's Future: Understanding the Importance of On-Farm Risk Assessment
Secure Your Farm's Future: Understanding the Importance of On-Farm Risk Assessment
In the ever-evolving landscape of modern agriculture, the security and stability of a farm hinge on thorough preparation and strategic foresight. A pivotal component in safeguarding a farm's future lies in the critical role of on-farm risk assessment. This process provides a structured approach to identifying potential risks that could affect a farm's operations, financial health, and overall sustainability. - read more
Income Protection for Farmers: Ensuring Stability Through Tough Times
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
Investing in Cybersecurity: A Crucial Step for Sustainable Farming
Investing in Cybersecurity: A Crucial Step for Sustainable Farming
Cybersecurity refers to the practice of protecting systems, networks, and programs from digital attacks. In the context of agriculture, it involves safeguarding the digital solutions and technologies that have become intrinsic to modern farming operations. As technological advancements continue to revolutionize the farming landscape, the importance of cybersecurity in securing farm data and operations has become more pronounced. - read more
What You Need to Know About Crop Insurance for Your Farm
What You Need to Know About Crop Insurance for Your Farm
Farming is a risky business. As a farmer, you are at the mercy of the weather, pests, and other challenges that can threaten your crops and your livelihood. That’s where crop insurance comes in. Crop insurance can provide financial protection in case your crops are damaged or destroyed, allowing you to recover from losses and move forward with your farm business. - read more
Essential Coverage vs. Optional Add-ons: Balancing Protection and Costs
Essential Coverage vs. Optional Add-ons: Balancing Protection and Costs
For Australian farmers, having the right insurance coverage isn't just a safety net—it's an integral part of sustaining their livelihood. Natural disasters, unpredictable climate conditions, and the inherent risks of agricultural production underline the critical importance of robust insurance for the agricultural community. As farmers navigate the complexities of insurance, understanding the basics becomes the first step toward securing their assets and ensuring the continuity of their operations. - read more

Need a Quote?
Start your free farm insurance quote comparison here.
Farm Type:
Postcode:

All quotes are provided free and without obligation by a Specialist from our National Broker referral panel. See our Privacy Statement for more details.


Knowledgebase
Umbrella Policy:
An additional insurance policy that provides extra liability coverage beyond the limits of the insured's primary policies.