There are 105 general insurance companies licensed to offer a broad range of insurance products in Australia. Every insurer offers policies that have different exclusions, terms and conditions, costs and policy requirements.
If a consumer's current insurer does not offer a product they need, the insurer is required to direct consumers towards another insurer or to the Financial Ombudsman Service (FOS).
Consumers should do their own research to determine not only what products meet their requirements, but also which insurance company offers policies most appropriate to their risk.
Choosing an Insurer
Consumers should do thorough research before purchasing a policy. Several insurance companies offer specialised insurance products tailored to more niche markets.
The FOS offers a Find an Insurer tool that consumers can use to find general insurers who offer a particular product.