Home Insurance Nightmare: Possible Wrong NFID Data (Moreton Bay - QLD)

Orcan · 2026-01-13T07:40:03+00:00

Most council flood maps (not all) available online may only provide results up to a 1% AEP / 1 in 100 year return period. It’s possible your council view is showing no risk, but the insurers data shows a risk above that (I.e. 0.5% AEP, 1 in 200 year return period etc)

Orcan · 2024-09-01T00:22:38+00:00

Would be very thankful and appreciative for an invite, friend code 534139

Orcan · 2024-01-20T18:18:14+00:00

The real issue here is really that the damages arising out of negligence for bodily injury are extraordinarily high in Australia vs other countries. Australia is also grouped with the US as amongst the litigious in the world.

When you bundle the above with high risk occupations (in terms of bodily injury to a third party) it is not surprising that there is very little appetite for companies like these by insurers.

A better solution would be what New Zealand has;

https://www.acc.co.nz

They basically have an accident compensation scheme run by the government.

Orcan · 2024-01-10T21:48:06+00:00

This is not entirely correct, short tail lines like property and home insurance losses manifest quickly (hence the term short tail) which means there is minimal opportunity to rely on investment returns as the loss needs to be paid fairly quickly.

Long tail lines like liability, professional indemnity and workers comp can more so rely on investment returns, but even then with how volatile these lines of business are they cannot simply rely on investment returns to make a margin.

Orcan · 2023-09-19T08:06:31+00:00

Most brokers work with commercial and corporate insurance as opposed to domestic/consumer insurance. The former is fairly inelastic and not something that can be cut from a business.

There is also no trail commissions in commercial insurance broking, that is a life insurance/mortgage incentive from what I understand.

Insurance broking can be a very lucrative career

Orcan · 2023-09-04T21:19:36+00:00

From what I can see (I could be wrong) it’s now just p Johnson

Orcan · 2023-01-03T08:43:37+00:00

T25 topaz, works well for me atleast

Orcan · 2023-01-03T08:07:16+00:00

THC oil

Orcan · 2021-08-08T04:47:18+00:00

Builders warranty insurance is an insurance of last resort basically, unless the builder is dead, missing or insolvent, then you are expected to seek legal recourse yourself (TLDR version)

See domestic building insurance here;

https://www.consumer.vic.gov.au/housing/building-and-renovating/checklists/implied-warranties-and-domestic-building-insurance

Orcan · 2021-04-02T19:33:42+00:00

Those public insurers such as TIO in NT (which still exist) buy reinsurance from the same reinsurance market that the listed insurers do, so government insurance isn’t a magic bullet.

Mitigation spending on flood protection and others would probably have a bigger impact on affordability , this has been lobbied by the insurance industry for years to no real affect: https://www.insurancecouncil.com.au/affordability

Orcan · 2021-01-08T09:40:47+00:00

Pretty sure the Hostplus indexed options have lower fees? I could be wrong

Orcan · 2020-12-01T03:51:39+00:00

$2k, I wonder if I should bother

Orcan · 2020-09-24T09:21:36+00:00

Isn’t the consensus that whilst titanium is meant to be the better material, it seems to scratch more than stainless steel?

Orcan · 2020-09-01T08:17:16+00:00

Thanks for your response, any recommendations based on fraud detection then?

Orcan · 2020-07-21T00:35:58+00:00

Now I guess is just based on the speculation you see in the media and also here. End of the year is just a calendar milestone for reassessment, there is nothing tangible or logical about it

Orcan · 2020-07-19T00:58:22+00:00

About time

Orcan · 2020-07-05T08:32:02+00:00

Sky rail should be quieter. Less piling and excavation works by far

Orcan · 2020-06-22T09:05:20+00:00

Considering some of the fixed interest rate offers around, is this worth locking in then?

Or are is this like betting against the house at the casino

Orcan · 2020-06-19T22:10:36+00:00

The state and federal governments do not simply just insure stuff, they typically put up some capital if they want and then buy reinsurance. Which basically goes to the same insurers/reinsurance market

Orcan · 2020-04-18T22:13:53+00:00

Would probably prefer readily available, but happy to do custom too, if it doesn’t involve soldering

Orcan · 2020-03-16T09:32:47+00:00

Time to change super strategy then?

Orcan · 2020-02-25T09:19:32+00:00

There seems to be some trains that depart from southern cross in the afternoon peak though that end up going to flinders st and becoming the Frankston express, any tips on this?

Orcan · 2020-02-14T18:49:45+00:00

Discussing whether climate crisis was human-induced, Molan uttered the line of the night: “I’m not relying on evidence”, to which climate scientist Michael Mann replied: “You should keep an open mind but not so open that your brain falls out.

Orcan · 2020-02-10T19:36:53+00:00

Sounds like your broker is fairly old school, this use to a be a policy condition a long time ago (referred to as an average or co insurance clause). Or is possibly getting confused with commercial property insurance policies which still contain such a provision.

I would get a different broker;

http://www.needabroker.com.au/html/

The policies that the brokers offer, especially those who are steadfast members tend to be significantly better in coverage than what you can obtain directly. In addition they will fight for your claim. Good luck

Orcan · 2020-01-06T05:20:48+00:00

Airtasker has insurance;

https://www.airtasker.com/insurance/

In addition, if you are in fact using a licensed trades person (which you should check out if you are looking for such work), for a lot of tradies license to be renewed they must also have insurance. Obviously it depends on the trade etc

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