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Courts hit RACQ with a $10m fine over insurance claims
The Federal Court has ordered the RACQ to pay a $10 million fine for potentially misleading customers over insurance.
Business
The Federal Court has ordered the RACQ to pay a $10 million fine for potentially misleading customers over insurance.
Business
The insurance industry has admitted it was overwhelmed by the scale and ferocity of the 2022 east coast flood disaster which caused $6 billion in damages and has accepted the recommendations of a report into how it responded.
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About 18 million Australians were living in a local government area impacted by at least one natural disaster during 2022, according to KPMG.
A re-evaluation of Queensland’s worst natural disasters has shown the cost of them occurring today would blow out by almost $30 billion, according to the Insurance Council.
Suncorp research has shown an alarming lack of knowledge of bushfires as Australia heads into an El Nino and its increased threats.
Suncorp has dusted itself off from the rejection of its banking division merger with ANZ to record a $1.15 billion profit for the year to June.
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