Cash settlements on home insurance claims leaving vulnerable Australians short-changed, Asic says

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• The GuardianLean L·1h ago

  Cash settlements on home insurance claims leaving vulnerable Australians short-changed, Asic says

  Corporate regulator finds insurers settling most claims with cash rather than by managing repairs or rebuilding, warning of ‘unfair outcomes’ for homeowners Get our breaking news email , free app or daily news podcast Home insurers are overwhelmingly paying cash to settle claims, leaving Australians to foot blowouts in repair costs for their cyclone-damaged homes. The corporate regulator is calling for “realistic” bigger payouts, warning the practice could cause “unfair outcomes” for people alr…

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