Farm Insurance :: News
SHARE

Share this news item!

ASIC Takes Hollard Insurance to Court Over Significant Claim Handling Issues

ASIC Takes Hollard Insurance to Court Over Significant Claim Handling Issues

ASIC Takes Hollard Insurance to Court Over Significant Claim Handling Issues?w=400
The Australian Securities and Investments Commission (ASIC) has initiated legal proceedings in the Federal Court against Hollard Insurance, alleging a breach of the duty of utmost good faith.
This action is in response to what ASIC describes as Hollard's "egregious" handling of a home and contents insurance claim filed by a couple from regional Victoria.

ASIC's case against Hollard revolves around the insurer's handling of the couple's claim following storm damage to their property in October 2021. The regulator claims Hollard's excessive delays and failure to conduct essential make-safe work have rendered the couple's home uninhabitable, leading to extensive moisture, mould, and decay issues that necessitate demolition and rebuilding.

Sarah Court, ASIC's deputy chair, highlighted the seriousness of the delays, stating that such prolonged inaction is unacceptable and potentially unlawful. The legal action aims to address growing concerns about increasing general insurance complaints and send a strong message about the unacceptability of such delays.

The claim, initially filed in October 2021, took Hollard nearly three and a half years to resolve. The insurer rejected the claim in April 2023, 18 months after its submission. Following this, the couple sought intervention from the Australian Financial Complaints Authority, which directed Hollard to provide compensation for non-financial losses and substantiated the storm as the proximate cause of the damage.

Hollard eventually consented to a cash settlement exceeding $1.5 million. However, ASIC contends that despite initially accepting the claim, Hollard delayed decisions regarding repairs, took over nine months to arrange a structural engineer inspection, and postponed the provision of temporary accommodation.

Responding to the legal action, a Hollard spokesperson acknowledged the proceedings and expressed support for ASIC's efforts in fostering consumer-positive outcomes. They noted Hollard's cooperation with ASIC but refrained from further commenting due to the ongoing nature of the legal matter.

Published:Monday, 14th Apr 2025
Source: Paige Estritori

Share this news item:

Insurance News

QBE Highlights the Importance of Adequate Landlord Insurance QBE Highlights the Importance of Adequate Landlord Insurance
15 Jul 2025: Paige Estritori

Landlords in Australia have been advised by QBE Insurance Group to reassess their insurance coverage, following survey findings that indicate many could encounter financial hardships if their rental operations are interrupted. According to QBE's data, 38% of landlords might face financial challenges should their properties become uninhabitable or rental payments cease for a duration of two to six weeks. - read more
Court Denies E-Scooter Negligence Allegation Against City Council Court Denies E-Scooter Negligence Allegation Against City Council
14 Jul 2025: Paige Estritori

An Australian court recently ruled in favour of the City of Joondalup, rejecting a negligence claim lodged by an injured e-scooter rider. The Western Australia District Court found the city not liable for an accident involving insurance broker Kirstin Leibbrandt, who collided with a fence post while riding an e-scooter in the Perth suburb of Hillarys. - read more
Mental Health Surpasses Other Causes in TPD Claims, Doubling Payouts Over Five Years Mental Health Surpasses Other Causes in TPD Claims, Doubling Payouts Over Five Years
14 Jul 2025: Paige Estritori

Recent findings from the Council of Australian Life Insurers (CALI) reveal that mental health issues have become the primary cause of Total and Permanent Disability (TPD) claims. Insurers disbursed nearly twice the amount for such claims in 2024 compared to five years prior. This data originates from the CALI and KPMG's Cause of Claims Results Report, highlighting a significant shift in the nature of insurance claims. - read more
Impact of Trump Tariffs on Global Insurance Industry Impact of Trump Tariffs on Global Insurance Industry
11 Jul 2025: Paige Estritori

According to Swiss Re’s latest Sigma report, the growth of property and casualty premiums is moderating in both Australia and globally. This moderation is primarily driven by a slowdown in rate hikes. Additionally, the Trump administration's America First trade policy is putting further pressure on the insurance sector. - read more
Navigating Changes in Australia's Life Insurance Advice Landscape Navigating Changes in Australia's Life Insurance Advice Landscape
10 Jul 2025: Paige Estritori

The conversation on the shifting dynamics in Australia's life insurance advice sector featured Zurich Australia's head of adviser channel, Kieran Forde, and Hayes & Co director, Katherine Hayes. They engaged with editor Chris Dastoor to spotlight the current market conditions and future prospects for financial advisers in this domain. - read more
ASIC Challenges Federal Court's 'Fair Term' Ruling ASIC Challenges Federal Court's 'Fair Term' Ruling
09 Jul 2025: Paige Estritori

The Australian Securities and Investments Commission (ASIC) is appealing a Federal Court decision regarding the wording of a 'pre-existing condition' clause in certain HCF Life insurance products. The court previously determined that while the wording had the potential to mislead consumers, it did not constitute an unfair contract term under the current laws set out in the ASIC Act 2001. - read more



Farm Insurance Articles

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
Is Your Farm Under-Insured? Tips for Assessing Bushfire Insurance Adequacy 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
5 Key Types of Farm Insurance Policies for Australian Farmers 5 Key Types of Farm Insurance Policies for Australian Farmers
As an Australian farmer, understanding the necessity of farm insurance is crucial to protecting your livelihood. The agricultural sector is inherently fraught with risks, ranging from natural disasters to the unpredictable market. Farm insurance serves as a vital safety net, safeguarding your farm's infrastructure, crops, livestock, and more. - read more
Top 10 Ways Australian Farmers Can Slash Insurance Costs Without Risking Coverage Top 10 Ways Australian Farmers Can Slash Insurance Costs Without Risking Coverage
Welcome to our definitive guide for Australian farmers on managing one of the most crucial aspects of their business: insurance. As a cultivator of the land, you're no stranger to the unpredictability of nature and the market. From intense weather events to fluctuating market demands, your line of work comes with its unique set of risks. Hence, safeguarding your livelihood with the right insurance is not just important—it's essential. - read more
Livestock Insurance for Aussie Farmers: What You Need to Know 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
Agribusiness Risk: Liability Issues Facing Australian Farmers Today 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
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
Understanding Farm Equipment Insurance: What Rural Australians Need to Know Understanding Farm Equipment Insurance: What Rural Australians Need to Know
Farm equipment insurance is crucial for rural Australians who rely on their machinery for agricultural productivity. This insurance provides a safety net, helping to mitigate the financial risks associated with equipment loss or damage. - read more
How to Choose the Right Farm Insurance Policy for Your Needs 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
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
Common Myths About Farm Insurance Debunked 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
The importance of income protection insurance for hobby farmers 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.
Farm Type:
Postcode:

Knowledgebase
Policyholder:
The individual or entity who owns the insurance policy.