Insurance Policy Excess: The amount you will have to contribute when you make a claim.
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| Insurers Bet Big on AI for Streamlining Claim Resolutions
28 Mar 2024: .Paige Estritori Australia's insurance sector is witnessing a transformative embrace of artificial intelligence (AI), with a sweeping 90% leaning on, or on the cusp of adopting, chatbots and advanced AI to enhance claim handling, as noted in Gallagher Bassett's yearly analysis. This heightened integration reflects the sector's aim to bolster operational speed and efficacy, with a remarkable 98% of insurers predicting immense benefits from such advancements. - read more
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| Spike in Weather-Related Insurance Claims During Summer Revealed
27 Mar 2024: .Paige Estritori Over the recent summer period, NRMA Insurance reported an influx of claims linked to severe weather, with a record not seen since the autumnal months of 2022. An overwhelming number of these, about 85%, have been ascribed to weather disturbances such as storms and hail, per the updated Wild Weather Tracker statistics. - read more
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| Federal Court Upholds Insurer's Policy Update Clause
26 Mar 2024: .Paige Estritori The Federal Court has provided a green light to Auto & General’s home and contents insurance policy terms, confirming the necessity for policyholders to inform the insurer about significant changes affecting their coverage. The company emerged victorious in a legal scrutiny instigated by regulatory body ASIC over the disputed clauses. - read more
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| Survey Reveals Time Crunch for Brokers Facing Compliance Hurdles
25 Mar 2024: .Paige Estritori Steeped in administrative duties, brokers are dedicating over three hours daily to data processing tasks, finds a survey issued by an insurance software company. Further intensifying their plight, nearly one-fifth have reported growing complications and time expenditure in compliance adherence, underlining a pressing industry conundrum. - read more
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| Revolutionizing Carbon Trading with Novel Insurance Offering
24 Mar 2024: .Paige Estritori In an innovative move within the environmental finance sector, CFC has introduced a cutting-edge insurance product specifically targeting the burgeoning carbon credit market. This pioneering Carbon Delivery Insurance is designed to mitigate the risks associated with non-delivery of carbon credits, reinforcing market confidence and integrity. - read more
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| Expert Tips for Comparing and Buying the Right Professional Indemnity Insurance
Professional indemnity insurance is an essential safeguard for practitioners and businesses that provide expert advice or services. This type of insurance helps to protect professionals against legal costs and claims for damages from an act, omission, or breach of professional duty in the course of their work. For Australian professionals, where litigation is increasingly common, it's a pivotal component of risk management. - read more
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| Cyber Liability and Indemnity: Mitigating Risk for IT Professionals
In an era dominated by digital innovation, understanding the crossroads of cybersecurity and indemnity insurance is more critical than ever for IT professionals. As cyber threats evolve with increasing sophistication, the concept of cyber liability has come into sharp focus, pinpointing the potential legal and financial risks associated with data breaches and cyber-attacks that professionals in the information technology sector may face. - read more
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| The Essential Guide to Professional Indemnity Insurance for Australian Consultants
If you're an Australian consultant, you understand that your advice is a valuable commodity. But with that value comes responsibility, and a level of risk that you could be held liable if your guidance results in financial loss to a client. This is where professional indemnity insurance comes into play, serving as a vital shield, providing protection and peace of mind for both you and your clients. - read more
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| Â | Â | Professional Indemnity Australia :: Calculators |
Professional Indemnity Australia Financial CalculatorsProfessional Indemnity Australia is pleased to provide you with the following calculators
to assist you on your financial journey.
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Net Worth Calculator
Use this tool to establish your expected net worth ... i.e. where you SHOULD be financially now given your income and your current age.
If your actual net worth is higher than the expected value calculated using this tool, then you are considered a good 'saver' and 'investor';
If your actual net worth is less than your expected net worth, you may be spending too much income, and investing too little. |
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Life Insurance Calculator
Use this calculator to establish the amount of life insurance required to meet your financial objectives. |
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Income Protection Insurance Calculator
Use this disability income protection insurance calculator to determine the monthly disability income protection insurance benefit that you qualify for. |
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International Currency Converter
Use this calculator to establish the value of one international currency to another. All major international currencies included. |
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