Insurance challenges

The Australian Small Business and Family Enterprise Ombudsman (ASBFEO) has launched an inquiry to investigate the practices of the insurance industry that impact small businesses and consider whether small business insurance products are fit for purpose.

We’ve been hearing from an increasing number of members recently about a growing trend of insurance companies denying businesses insurance completely or pricing insurance policies out of reach.  QTIC has raised this as an urgent issue in relevant state and federal forums, including with federal members of Parliament .  The inquiry announced now will look specifically at addressing these various concerns.  While this inquiry is focused on the small business sector, we are quite aware that the problem is affecting all businesses and we will continue to pursue the issue at all levels.