| Car Collector Fails in Bid for $122k Insurance Windfall Wed, 24 Jul: A car enthusiast's efforts to boost his insurance payout from $78,000 to $200,000 after his rare vehicle was destroyed by fire have been thwarted. - read more
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| Bunnings Lead Controversy Sparks Debate on Workplace Safety Wed, 24 Jul: Health concerns have emerged regarding lead exposure at Bunnings stores, with unions raising red flags about potential safety risks for both shoppers and workers. The retail giant has come under scrutiny after allegations surfaced about inadequately packaged lead sheeting at its Woodville store in Adelaide. - read more
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| Super Funds Step Up for Affordable Housing Solutions Wed, 24 Jul: Top Australian superannuation funds, AustralianSuper and HESTA, are reinforcing their commitment to supplying affordable housing across the nation. By solidifying their major stakes in developer Assemble, post its merger with the investment entity Super Housing Partnerships, they aim to expand housing options significantly. - read more
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| Financial Advice Landscape Set for Further Overhaul Wed, 24 Jul: Financial industry professionals are bracing for significant changes as new reforms surrounding commission consent in financial advice have moved into effect. With the successful passage of the Treasury Laws Amendment (Delivering Better Financial Outcomes and Other Measures) Bill 2024, the sector anticipates a substantial shift in how financial advisories are delivered to retail clients. - read more
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| REST Boosts Private Equity with Eco-Friendly Investments Tue, 23 Jul: Superannuation fund REST is making significant strides in sustainable finance by committing US$75 million (approximately AUD$112 million) to a private equity fund. The strategy focuses on aligning investments with long-term trends of decarbonisation and deglobalisation within the global economy. - read more
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| NAB Offers a Glimmer of Hope with Fresh Interest Rate Cut Tue, 23 Jul: Australian home seekers facing stiff challenges may find a bit of relief from an unexpected source: NAB, one of the country's financial giants. The bank has recently slashed its three-year fixed home loan interest rate by a notable 0.6%, bringing it down to 5.99%. - read more
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| Queensland Renters Face Significant Financial Risk Without Contents Insurance Tue, 23 Jul: Queensland renters are increasingly vulnerable to financial setbacks due to a lack of contents insurance, warns RACQ Insurance. An alarming 78% of renters in Queensland forgo this critical coverage, primarily underestimating the value of their belongings. Other reasons for this trend include the cost of insurance and a general lack of knowledge regarding coverage options. - read more
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| Massive Fines Hit Rogue Builders Over Fake Insurance Sat, 20 Jul: On July 19th, 2024, in a significant crackdown on fraudulent building practices, Aycon Constructions along with its director, Seyit Ayranci, received a record-setting fine of $250,000 from the Victorian Building Authority (VBA). The enforcement action came after the construction firm was implicated in the use of falsified insurance certificates to secure building permits. - read more
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| Australian Markets React to Employment Data: Shares Narrowly Lower Sat, 20 Jul: The Australian sharemarket experienced a modest pullback on Thursday, ending a day of fluctuations just shy of its recent peak. A day following the celebration of a fresh 52-week high, the market's mood shifted. - read more
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| Cbus Thrives Amid CFMEU Scrutiny Sat, 20 Jul: As the Construction, Forestry, Maritime, and Energy Union (CFMEU) navigates intense media and political scrutiny, Cbus, a superannuation fund with deep roots in the union, continues its robust expansion in both membership and strategic mergers. - read more
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| Liberty Mutual Re insurance Unit Further Solidifies Aussie Market Reach Sat, 20 Jul: Liberty Mutual Insurance Group's LM Re insurance unit is making impactful strides with the inception of a dedicated Australian branch. At the helm of this initiative is Mark De La Mare from Aon, who will guide the underwriting team nestled in Sydney. - read more
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| HCF Broadens Insurance Offering in New Allianz Deal Thu, 18 Jul: HCF, the non-profit health fund, is now offering home and motor insurance products, thanks to an expanded partnership with Allianz. - read more
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| ANZ Prepares to Finalize $4.9B Suncorp Acquisition Thu, 18 Jul: ANZ is poised to officially acquire Suncorp's banking sector on August 1, following recent modifications to Queensland's legislative framework essential for the $4.9 billion transaction. - read more
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| Spirit Super Chooses New Custodian in Strategic Shift Thu, 18 Jul: In a strategic financial realignment, Spirit Super, managing $30 billion in assets, has announced the successful transition to J.P. Morgan for custody and fund administration services. - read more
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| Greens Challenge APRA on Industry Super Audits Thu, 18 Jul: The Australian Prudential Regulation Authority (APRA) has been under the spotlight for its investigation into financial dealings between industry superannuation funds and trade unions. Over the past two years, significant resources have been dedicated to probing these connections, now prompting inquiries about the extent of this dedication. - read more
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| Housing Crisis in Australia: Deeper Trouble Ahead Tue, 16 Jul: Australia is grappling with an increasingly severe housing crisis as rising interest rates and skyrocketing construction costs stifle the supply of new homes. Experts fear that the national goal of constructing 1.2 million new homes over the next five years will remain out of reach. - read more
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| Suncorp's Renewed Commitment to Economic Equity Initiatives Tue, 16 Jul: Suncorp has launched its third Reconciliation Action Plan (RAP) designed to bolster the economic standing and opportunities for First Nations people. The new plan emphasizes deepening the insurer's existing commitments and exploring fresh pathways towards equitable growth. - read more
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| ASX Surges as Financial Year-End and Inflation Data Loom Tue, 16 Jul: Australian shares surged to a two-week peak as investors brace for the financial year-end and crucial inflation data. The S&P/ASX200 index climbed 105.1 points, or 1.36%, finishing at 7,838.8—its highest close since June 7. - read more
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| Australian Households Face Toughest Economic Times Since '90s Mon, 15 Jul: As Australia's economic climate continues to worsen, households are encountering unprecedented financial challenges, marking the gravest consumer recession since the early 1990s, excluding the impacts of recent pandemic-related downturns. - read more
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| Homeowner Triumphs in Ground Movement Damage Claim Mon, 15 Jul: A homeowner's dispute over damage caused by ground movement due to a leaking pipe has received a favorable verdict from the Australian Financial Complaints Authority (AFCA), promising significant coverage for repairs. - read more
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| Banks Set for Major Refunds to Assist Struggling Customers Mon, 15 Jul: In a groundbreaking move, four prominent Australian banks are poised to return nearly $30 million to their low-income customers. This significant refund follows an in-depth review by the Australian Securities and Investments Commission (ASIC). - read more
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| QBE Adopts Innovative Claim Strategies Sun, 14 Jul: QBE has rolled out a set of enhancements to its claims handling processes, utilizing lessons learned from the catastrophic 2022 floods in Australia. These initiatives aim to mitigate delays, streamline communication, and bolster risk management practices. - read more
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| Strong Aussie Dollar Encourages Bold Travel Plans Sun, 14 Jul: In recent weeks, the Australian dollar has shown remarkable strength, bringing about a sense of optimism and renewed travel enthusiasm among Aussies. The currency has significantly appreciated, witnessing impressive highs not seen in nearly half a year. - read more
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| Financial Adviser Head Count Sees Marginal Gains Sat, 13 Jul: The landscape of financial advisers in Australia continues to be dynamic with numbers showcasing a slight growth after a period of declines. In the latest analysis by WealthData, Australia faced a modest net increase of 39 financial advisers this week, coming off the Financial Adviser Register (FAR). - read more
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| Call for Insurance Sector to Champion Resilience Funding Sat, 13 Jul: Insurance companies should explore innovative solutions to tackle the rising challenges of affordability and accessibility in the sector, recommends a major consumer group, Australian Consumers Insurance Advocacy. - read more
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