Farm Insurance :: News

Share this news item!

ASIC Takes Hollard Insurance to Court Over Significant Claim Handling Issues

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 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

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

Share this news item:

Insurance News

Learning from Near Misses: Enhancing Farm Safety in Australia

18 Feb 2026: Paige Estritori

In July 2025, Farmsafe Australia launched the 'Second Chances - Who Knows How Many You'll Get' campaign, aiming to transform near misses on farms into learning opportunities to prevent future accidents. This initiative underscores the critical importance of recognising and addressing close calls in agricultural settings. - read more

WFI's 2025 Farm Accident Insights: A Call for Enhanced Safety Measures

18 Feb 2026: Paige Estritori

In October 2025, WFI Insurance unveiled its annual farm accident insights as part of Farmsafe Australia's 2025 Safer Farms Report. The findings paint a stark picture of the challenges facing Australian agriculture, with 2024 recording 72 farm-related deaths-the highest in over two decades. - read more

Strengthening Agricultural Insurance: Rural Affinity and Munich Re's Renewed Partnership

10 Feb 2026: Paige Estritori

Rural Affinity has renewed its partnership with Munich Re Specialty - Global Markets under a new five-year agreement, continuing a collaboration that began in 2006. This renewed alliance aims to support Rural Affinity's efforts to expand its agricultural insurance offerings across Australia and introduce new products leveraging technology and innovation. - read more

WFI Insurance and Rural Aid Join Forces to Assist Farmers in Crisis

02 Feb 2026: Paige Estritori

In a significant move to bolster support for Australia's agricultural sector, WFI Insurance has announced a formal partnership with Rural Aid, a leading rural relief charity. This collaboration is set to provide much-needed assistance to farmers and rural communities affected by recent natural disasters, including the devastating bushfires in Victoria and severe weather events in Queensland. - read more

Elders Insurance Warns Farmers of Escalating Summer Storm Threats

02 Feb 2026: Paige Estritori

As the Australian summer approaches, Elders Insurance is calling on farmers to brace for an anticipated increase in storm-related damages. Recent claims data reveals a concerning trend, with summer months accounting for nearly half of all storm-related farm insurance property claims over the past two years. - read more

Significant Reduction in Farm Liability Claims Reflects Enhanced Safety Practices

25 Jan 2026: Paige Estritori

Recent data from WFI Insurance indicates a substantial 75% decrease in farm liability claims over the past year, suggesting that Australian farmers are adopting more effective safety measures. This decline is particularly notable in incidents involving falls from height, which have reached their lowest level in four years. - 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

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

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

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

When the Rain Doesn't Come: Financial Planning Tips for Persistent Drought

For farmers across rural Australia, the unyielding dry spells brought on by persistent drought conditions are not just an environmental concern but a significant financial challenge. Effective financial planning becomes a cornerstone strategy for ensuring the resilience and longevity of these crucial agricultural businesses. The prickling heat and parched earth serve as stark reminders of nature's capacity to impact livelihoods, especially when the rain doesn't grace the farmlands for extended periods. - read more

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

Need a Quote?

Start your free farm insurance quote comparison here.

Knowledgebase

Loss Ratio:
The ratio of claims paid by an insurer to the premiums earned, used as a measure of profitability.

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.