Farm Insurance :: News

Share this news item!

Life Insurers Aim for Harmony with Financial Advisers

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 Council of Australian Life Insurers (CALI) has reaffirmed that their primary focus is not to compete with financial advisers but to enhance the existing services in the life insurance sector.

Christine Cupitt, the Chief Executive of CALI, asserted during a Senate Economics Legislation Committee hearing that the distinction between life insurers' advice and financial advisers’ roles will be maintained and clarified.

"Our goal is to supplement the crucial and invaluable work done by financial advisers rather than obstruct it," Cupitt shared with the committee.

She elaborated on CALI's collaboration with the Federal Government, emphasizing the need for legislative frameworks that would permit life insurers to dispense straightforward product-specific advice to customers upon request.

"Naturally, this should be governed by stringent constraints and robust consumer protections," Cupitt added.

Cupitt stressed the importance of not diverting potential customers who call their service centers with basic questions, pointing out that delivering simple and direct answers is an essential element of customer service.

"For clients presenting more complex needs, life insurers will continue to refer them to financial planners capable of offering comprehensive advice, including product comparisons across the market," Cupitt said.

Christine Cupitt’s statements, as reported by Financial Standard, clarify that while the CALI seeks to provide fundamental, product-specific guidance to customers, they have no intentions of encroaching on the advisory space traditionally held by financial advisers.

Published:Saturday, 15th Jun 2024
Author: Paige Estritori

Please Note: We do not endorse any specific products or companies. Some content is sourced from third parties, including press releases, and may not be independently verified for accuracy or completeness.

Share this news item:

Rate this article

0 Comments

No comments yet. Be the first to share your thoughts.

Insurance News

Comprehensive All-Risk Insurance Now Available for Large-Scale Australian Farms

17 May 2026: Paige Estritori

Harland Green, a newly established Lloyd's coverholder, has unveiled an all-risk farm insurance package specifically designed for large commercial farming operations in Australia. This initiative aims to address the complex and evolving needs of the agricultural sector by offering comprehensive coverage that encompasses various aspects of farm operations. - read more

New Partnership Aims to Revolutionize Agricultural Insurance in Australia

17 May 2026: Paige Estritori

In a significant development for Australia's agricultural sector, CGU and WFI Insurance have announced an exclusive partnership with Ag Guard, a technology-driven agricultural insurance agency. This collaboration, set to commence in June 2026, aims to bolster the agricultural insurance capabilities of both insurers and enhance digital services for brokers, partners, and customers. - read more

Rising Summer Storm Claims Prompt Urgent Call for Farmer Preparedness

17 May 2026: Paige Estritori

As Australia approaches another summer season, Elders Insurance is urging farmers to prepare for potential storm-related damages, following a significant increase in claims during previous summers. 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

Rising Input Costs Squeeze Margins for Australian Dairy Farmers

09 May 2026: Paige Estritori

Australian dairy producers are entering the 2026/27 season with limited margin for error, as escalating input costs continue to erode profitability. According to Rabobank's latest annual Australian Dairy Outlook, rising expenses for fuel, fertiliser, water, labour, and interest rates are placing significant pressure on the sector. - read more

Federal Government Introduces $10 Billion Package to Secure Fuel and Fertiliser Supplies

09 May 2026: Paige Estritori

In response to escalating global disruptions affecting fuel and fertiliser supplies, the Australian government has announced a $10 billion budget package aimed at securing these critical inputs for the agricultural sector. Prime Minister Anthony Albanese emphasized the government's commitment to stabilizing supply lines and mitigating the impact of international conflicts on domestic agriculture. - read more

Queensland Farmers' Market Threatened with Eviction Over Insurance Dispute

01 May 2026: Paige Estritori

In south-east Queensland, the Three Creeks Farm Stall, a cherished farmers' market operating in Eileen Hose Park near Gympie, is confronting potential eviction due to a disagreement over public liability insurance requirements imposed by the Gympie Regional Council. - read more

Click for more Insurance News

Farm Insurance Articles

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

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

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

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

The Impact of Weather on Farm Insurance Rates: What You Should Know

Farming in Australia is a dynamic venture that requires careful planning and management. One of the crucial aspects every Australian farmer should consider is farm insurance. It provides a safety net against potential financial losses arising from various risks. These include natural disasters, damage to crops, livestock issues, and accidents on the farm property. - 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

Premium:
The amount paid for an insurance policy, usually on a regular basis, to maintain coverage.

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 act solely as an introducer and refer enquiries to licensed third-party brokers, insurers, and lenders. We do not provide financial product advice or credit assistance. 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 independently verify the credentials and licensing of any adviser or provider you engage. Visit the ASIC website for further information.