Corporate regulator finds insurers settling most claims with cash rather than by managing repairs or rebuilding, warning of ‘unfair outcomes’ for homeowners
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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 already in vulnerable positions.
