Farm Insurance :: News

Share this news item!

Insurance Council of Australia Assists NSW Flood Claimants

In response to the devastating floods that swept across New South Wales' Mid North Coast in May, the Insurance Council of Australia (ICA) is taking proactive steps to support the affected residents.

Insurers, organised by the ICA, will be meeting with flood victims in Kempsey, Taree, and Port Macquarie to provide guidance and support as they navigate their insurance claims.

This initiative is part of a broader effort to address the aftermath of a disaster that has generated approximately 13,200 claims, with overall costs amounting to $235 million.

The consultations aim to clarify the claims process for attendees, offering insights into dispute resolution and recovery support. This engagement seeks to empower residents by equipping them with the necessary information to expedite their claim settlements, thereby facilitating their return to normalcy after the calamity.

The community sessions are scheduled at accessible locations as follows:

Oddfellows Hall in West Kempsey on September 16, from 9am to 5pm
Manning Uniting Church in Taree on September 17, from 9am to 5pm
Panthers Port Macquarie in Port Macquarie on September 18, from 9am to 5pm

Those interested in attending these sessions can register to ensure their participation.

This initiative by the ICA is significant as it addresses the urgent need for direct communication between insurers and claimants, an area that often becomes a source of frustration and confusion in the aftermath of natural disasters. By facilitating one-on-one discussions, these sessions are expected to provide much-needed clarity and reassurance to those still grappling with the impact of the floods. Furthermore, they underscore the commitment of insurers to support affected communities and demonstrate a tangible effort to improve customer relations and service standards.

Looking ahead, the outcomes of these consultations could set a precedent for how insurance claims are managed following natural disasters in Australia. Success in this endeavour might prompt the ICA to adopt similar initiatives in future events, fostering a more resilient and responsive insurance sector. Additionally, insights gained from these interactions could drive enhancements in claims handling processes and policies, ultimately benefiting consumers across the nation. The engagement also highlights the need for ongoing dialogue between residents and insurers, potentially leading to more streamlined and effective responses to future incidents.

Published:Tuesday, 9th Sep 2025
Source: Paige Estritori

Share this news item:

Insurance News

Cyber Insurance Becomes Essential Amid Rising Digital Threats

12 Sep 2025: Paige Estritori

The recent cyberattack on Fortnum Private Wealth, accompanied by ASIC's legal action, has spotlighted the critical risks cyber threats pose to financial advice companies in Australia. With digital integration intensifying across the finance sector, the owner of Fortnum, Entireti, plans to defend the case, underscoring the necessity for ongoing vigilance in cybersecurity measures. - read more

Swiss Re Foresees Rising Premiums Amid Increasing Global Risks

10 Sep 2025: Paige Estritori

In a comprehensive analysis, Swiss Re Institute predicts that global property and casualty insurance premiums will rise in tandem with GDP over the upcoming decade. This growth is driven by amplified natural catastrophe losses, asset accumulation, and heightened economic and litigation claims inflation. The institute's report outlines the evolving insurance landscape amid increasing global risks. - read more

Insurance Council of Australia Assists NSW Flood Claimants

09 Sep 2025: Paige Estritori

In response to the devastating floods that swept across New South Wales' Mid North Coast in May, the Insurance Council of Australia (ICA) is taking proactive steps to support the affected residents. Insurers, organised by the ICA, will be meeting with flood victims in Kempsey, Taree, and Port Macquarie to provide guidance and support as they navigate their insurance claims. - read more

Ombudsman Upholds Policyholder’s Claim Despite Fraud Allegations

08 Sep 2025: Paige Estritori

A motor insurance policyholder has won a significant dispute over fraud allegations, with the industry ombudsman ruling in favour of a payout following a controversial car accident claim. The case revolved around an incident where the claimant's wife crashed at an intersection one evening, reportedly failing to yield. The lack of photographic evidence due to shock and subsequent involvement of towing services complicated matters. - read more

NM Insurance Secures Growth with Five-Year Zurich Partnership

05 Sep 2025: Paige Estritori

In a strategic move set to bolster its market position, NM Insurance has announced a five-year agreement with capacity provider Zurich, positioning itself for further growth and increased broker confidence in its success. Since its establishment two decades ago as Nautilus Marine Insurance Agency, NM Insurance has expanded its focus beyond the recreational boat market in Australia, branching into New Zealand and diversifying into the commercial marine, caravan, and motorcycle sectors. - read more

Empower Your Cyber Knowledge with CFC's Free Masterclass

03 Sep 2025: Paige Estritori

In an era where cyber threats are increasingly sophisticated, CFC Underwriting Limited has unveiled a unique opportunity for brokers to fortify their expertise through its newly launched Cyber Masterclass. This initiative offers a flexible, on-demand video learning series designed to advance brokers into proficient cyber insurance specialists at their convenience. - read more

Click for more Insurance News

Farm Insurance Articles

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

The Farmer's Handbook to Quick and Effective Insurance Claims

Insurance is a vital part of safeguarding any farming operation. As a farmer, protecting your property, equipment, and livelihood from unexpected events like natural disasters, theft, or accidents is crucial. Adequate insurance coverage ensures that you can recover quickly from setbacks without enduring overwhelming financial strain. - 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

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

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

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

Need a Quote?

Start your free farm insurance quote comparison here.

Knowledgebase

Insurance:
In law and economics, insurance is a form of risk management primarily used to hedge against the risk of potential financial loss.