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comparedinkum Featured Insurance for January
BetterBills Health Insurance Shadow
BetterBills Health Insurance
Budget Direct Car Insurance Shadow
Budget Direct Car Insurance
Zuji Travel Insurance Shadow
Zuji Travel Insurance

The ranking does not represent an implied recommendation for a particular financial product on the part of comparedinkum. Visitors should evaluate each individual product and choose the product that suits their requirements the best.

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  • Insurance simply put is the transfer of risk to a third party who is prepared to bear it in return for a fee. That is to say if you worry about the risk of a certain event, a fire for example and the damage the event can cause, in return for paying a premium to an insurance company, the insurance company agrees to pay the cost of damages (usually a defined amount) to the insured.
  • There are two types of insurance for consumers. The first, Life insurance, provides a benefit in the event of death to the insured persons dependants. Which in effect means that in return for paying an annual or semi annual premium to a life insurance company, upon death, the insurer agrees to pay a benefit to your loved ones. This may sound morbid, but in reality should the death be unexpected, it provides a source of finance for your dependents, and gives them a source of income should the primary income earner no longer be around.
  • The second type, general insurance covers all kinds of general risk everything from home and contents to car insurance. So for example should you have a burglary or fire at your house, the cost of reimbursing your house for damage or loss is undertaken by the insurer. Similarly with car insurance, should you have an accident, or your vehicle requires repairs, that cost will be borne by the insurer in return for a regular premium payment.

Latest Insurance News from the comparedinkum Blog

Choice Scaring Away Property Owners From Buying Home Insurance
Choice Urges Home Owners To Be Cautious When Buying Home Insurance

Choice, the consumer group is advising consumers who live in places that are prone to flooding from taking out insurance in an irresponsible manner, whilst at the same time heavily criticizing the industry according to the insurance council.

Recently the advisory group held its annual Shonky Awards, where the group awarded lemon trophies for dubious dodgy and deceitful goods and services.
Choice singled out the insurance industry, following this summer’s flooding in Victoria, Queensland and New South Wales. Continue reading

QBE Insurance
Shares Of Australian Insures Drop As Investors Fret Over Japan

Shares of Australian insurers that have exposure to Japan are vulnerable to sell offs amid investor fears that reinsurance costs will soar.
Australia’s largest insurer QBE Insurance Group also has the biggest exposure to Japan warned on Monday that it expects net claims of US$125 million. Its shares fell by 1 per cent on Monday, whilst rival Insurance Australia Group saw its share price decline by 2.6 per cent, with Suncorp falling 1.3 per cent. Neither IAG nor Suncorp have any exposure to Japan, but their shares still sold off as investors expressed concern that the two companies would be negatively impacted by rising reinsurance costs.
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IAG Posts 51 Per Cent Half Year Profit Decline
IAG Posts 51 Per Cent Half Year Profit Decline

Australian insurance major IAG reaffirming recent guidance given to investors posted a 51 per cent decline in first have net profit.

IAG’s first half profit for the six months ending December 31 fell 51 per cent to $161 million from $329 million during the same time period in the previous year.
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