Farm Insurance :: News

Share this news item!

Insurer Prevails in Fraudulent Rental Claim Dispute

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.

The insurer QBE has successfully reversed a payout concerning a fraudulent rental claim, as determined by the Australian Financial Complaints Authority (AFCA).

The controversy arose from a claim lodged under an owners’ corporation residential strata plan for water damage and subsequent rental losses dating back to a January 2022 storm.

The claimant asserted the lot was leased to a company as a conference facility, incurring a monthly rent of $3300, but became uninhabitable due to water damage. While QBE compensated the water damage, initially declining the rental loss claim, they later approved it after a review, disbursing $31,818 from January to October 2022.

However, concerns about the rental claim's legitimacy were raised by the owners' corporation, prompting further investigation. The claimant had provided a formal lease agreement purportedly made on October 1, 2021, but the incorporation of the tenant company occurred almost six months later. The claimant's director admitted the written lease was backdated in tandem with the claim submission, originally having only a verbal agreement, believing the document was necessary for the claim's success.

Furthermore, a rental ledger indicated payments for October through December 2021, which the director later conceded were never made, fabricated to bolster claim acceptance. QBE branded these actions as attempts to unjustly secure entitlements, enabling them to retrieve $46,830 in payments and costs.

Despite opposing the fraud accusation, stating the ledger mistake was not intended to mislead, AFCA concluded the claim was deceptive. They highlighted misrepresentations regarding the timeline of the lease agreement and rent payments as intentional efforts to deceive the insurer. Given the rent claim constituted a major part of the payout, AFCA deemed it justifiable for QBE to reclaim funds.

This resolution underscores the stringent expectations on claim accuracy and integrity, flagging potential repercussions for misleading insurance practices.

Published:Monday, 17th Mar 2025
Source: Paige Estritori

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

Share this news item:

Insurance News

Rural Affinity and Munich Re Strengthen Agricultural Insurance in Australia

09 Jan 2026: Paige Estritori

In a significant development for Australia's agricultural sector, Rural Affinity has renewed its partnership with Munich Re Specialty - Global Markets under a new five-year agreement. This collaboration, which began in 2006, is set to enhance the availability and scope of agricultural insurance products across the country. - read more

WFI Insurance Highlights Significant Drop in Farm Liability Claims

09 Jan 2026: 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

Elders Insurance Highlights Increased Summer Storm Risks for Farmers

09 Jan 2026: Paige Estritori

Elders Insurance is urging Australian farmers to prepare for another damaging summer, with claims data revealing the scale and financial impact of storm activity across the country's agricultural regions. Analysis of storm-related farm insurance property claims over the last two years indicates that summer accounts for the highest number of claims nationally. - read more

Preparing for Summer Storms: Elders Insurance's Advice to Farmers

01 Jan 2026: Paige Estritori

As the Australian summer approaches, Elders Insurance has issued a cautionary advisory to farmers, emphasising the heightened risk of storm-related damages during this season. Recent data indicates a significant increase in insurance claims due to summer storms, underscoring the need for proactive measures to safeguard agricultural assets. - read more

New Partnership Offers Insurance Savings for Sustainable Farmers

01 Jan 2026: Paige Estritori

In a significant move towards promoting sustainable agriculture, WFI Insurance has partnered with AgCarE to offer premium reductions to farmers who achieve AgCarE certification. This collaboration aims to enhance financial, environmental, and social outcomes for Australian farmers and rural communities. - read more

IAG Highlights Climate Change's Impact on Rising Insurance Costs

01 Jan 2026: Paige Estritori

Insurance Australia Group (IAG) has issued a warning to Australians, indicating that home insurance premiums are expected to rise due to the increasing frequency and severity of extreme weather events, a trend attributed to climate change. This development underscores the pressing need for both mitigation and adaptation strategies to address the evolving risks. - read more

Click for more Insurance News

Farm Insurance Articles

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

The Ultimate Guide to Affordable Farm Insurance for Australian Farmers

Welcome to 'The Ultimate Guide to Affordable Farm Insurance for Australian Farmers.' As stewards of the vast Australian countryside, farmers face an array of unique challenges and risks. Every day, they grapple with the forces of nature, the volatility of the markets, and the complexities of modern agricultural operations. - read more

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

Agribusiness Risk: Liability Issues Facing Australian Farmers Today

The agricultural sector in Australia carves a significant portion of the country's economy, contributing to its GDP and providing employment across rural and suburban areas. Thus, navigating the complexities of agribusiness is not just a matter of crop cultivation and livestock management, but also of understanding the intricate web of liability risks that come with the terrain. - read more

Livestock Insurance for Aussie Farmers: What You Need to Know

Livestock farming is a significant part of the Australian agriculture industry. As with any business, farmers face numerous risks such as disease, death, theft or extreme weather events, which could cause damage or loss to their livestock assets. Livestock insurance provides cover against these risks, ensuring that farmers are financially protected from any potential financial losses, which could devastate their livelihoods. - read more

The importance of income protection insurance for hobby farmers

As a hobby farmer, you may not rely on your farm for your main source of income. Perhaps you have a full-time job but enjoy farming as a way to supplement your income and pursue a passion. However, just because farming is a hobby does not mean there aren't risks involved. In fact, hobby farmers face many of the same risks as commercial farmers, such as injury, illness, loss of crops or livestock, and damage to property. - read more

Need a Quote?

Start your free farm insurance quote comparison here.

Knowledgebase

Professional indemnity:
An insurance that provides cover for liability incurred in the course of exercising a profession.

This website is owned and operated by Clark Family Pty Ltd (as Trustee for the Clark Family Trust) 43 Larch Street Tallebudgera QLD 4228, A.C.N. 010281008.

This website is owned and operated by Clark Family Pty Ltd (ACN 010 281 008) as Trustee for the Clark Family Trust (ABN 35 957 893 714), 43 Larch Street Tallebudgera QLD 4228. Clark Family Pty Ltd is an Authorised Representative (AR 1298860) of Unique Group Broker Services Pty Ltd (AFSL 509434) for financial product referrals and an Authorised Credit Representative (ACR 401491) of Saccasan Pty Ltd (ACL 386297). Check our licensing details on the ASIC registers: Clark Family Pty Ltd ACR, Clark Family Pty Ltd AR, Saccasan Pty Ltd, Unique Group Broker Services.

IMPORTANT: We do not provide financial product advice or credit assistance. We act solely as an introducer and refer enquiries to licensed third-party intermediaries, insurers, and lenders - with whom you can then deal directly. We may receive a fee or commission from these third parties in consideration for the referral. Before any action is taken to obtain a product or service referred to by this website, advice should be obtained (from either the third party to whom we refer you or from another qualified intermediary) as to the appropriateness of obtaining those products having regard to your objectives, financial situation and needs. Whilst we have our own process for validating the legitimacy of our referral partners, you should always verify the credentials of your financial adviser before proceeding with recommendations that they may present. Visit the ASIC website for further information.