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Episode 210 | Unfair terms in your insurance policy? ASIC commences action!

When you take out home and contents insurance, ever get asked the question, "Make sure you tell us about any changes to your policy". What does that even mean??? Well it seems ASIC has agreed. ASIC has commenced action against Auto & General Insurance Company for alleged unfair contract terms in insurance contracts, for the following insurance companies including this very question for insured in their policies: 1) Budget Direct Home and Contents Insurance 2) Australia Post Home and Contents Insurance 3) ING Home and Contents Insurance 4) Catch Home and Contents Insurance 5) Virgin Home and Contents Insurance 6) Qantas Home and Contents Insurance Here is the public notification issued by ASIC: https://asic.gov.au/about-asic/news-centre/find-a-media-release/2023-releases/23-088mr-asic-sues-auto-general-insurance-company-for-alleged-unfair-contract-terms-in-insurance/ ASIC allege that the obligation placed on customers to notify their insurance company if anything changes about their home and contents, is unfair. This has come about due to the recommendations by the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry where the Royal Commission found it was too easy for insurers to deny claims based on the policy holder's failure to meet broad disclosure obligations. A space to watch for the outcome of this case.

https://www.youtube.com/watch?v=7sMcqPeKbsM



The show was designed to give back to the community which Despina did in droves. Her weekly radio show was broadcast on the Gold Coast each Thursday on 104.1FM Gold Coast/Tweed & 103.5FM Northern Rivers and had a substantial following since 2020. Despina talked about various hot topics at local, state and federal level, and answered the questions that ordinary Australians want to hear. And the best part, it was free.

In 2024, due to programming changes within the radio station itself, Despina then moved her radio show to being solely online on her Youtube channel: Despina Priala

Each week she brings another insightful episode of Talking Law for her loyal listeners and the greater Australian community.

Knowledge is power and Talking Law is very much about empowering the ordinary Australian with information that they should be aware of to help them in every day life.

All episodes of Talking Law with Despina are uploaded on the Priala Legal website and onto our YouTube channel here: https://www.youtube.com/channel/UCWmG7z-wIbsHY9KhFfrrWwQ

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DISCLAIMER: The information discussed within the Talking Law videos is general in nature only and is not intended to be comprehensive, nor does it constitute legal or other advice in anyway, and should not be relied upon as such. The information is intended only to provide a summary and general overview on matters of interest and it is not intended to be comprehensive. You should seek legal or other professional advice before acting or relying on any of the content herein.


Despina Priala

Posted By Despina Priala
Despina Priala has practised in property and commercial law on the Gold Coast for over 25 years and has extensive experience in this area.

Updated : 21st April 2023 | Words : 195 | Views : 213

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