ELECTRICITY networks in Victoria have today announced an extension of relief measures for customers impacted by COVID-19.

Under the voluntary extension, eligible customers will be able to access support for a further six-months to January 31, 2021.

This is the second extension of the proactive relief package announced by networks on April 2, 2020, and this modified package will allow small retailers to defer the payment of eligible network charges.

The extension applies to Victorian electricity networks CitiPower, Powercor, United Energy, Jemena and AusNet Services.

Gas networks in Victoria, New South Wales and South Australia also have extended support for small retailers to December 2020.

All networks in the National Electricity Market, outside Victoria, are continuing to work with the Australian Energy Market Commission (AEMC) on the proposed rule change to allow certain retailers to defer eligible network charges.

Energy Networks Australia CEO Andrew Dillon said electricity and gas networks around the country were again stepping up to support customers.

"Support is available – if any customer is having difficulty with energy bills, I urge you to contact your electricity or gas retailer," Mr Dillon said.

"Energy networks are also minimising the impact of planned outages on our customers when conducting critical works needed to keep the lights on and the gas flowing during these unprecedented times."

www.energynetworks.com.au

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THE Financial Services Council (FSC) is using Life Insurance Awareness week as an opportunity to release data which reveals interesting insights into the health of the nation.

FSC has released 2019 data about the most common causes of life insurance claims that reveal some of the biological differences between men and women.

KPMG, on behalf of the FSC, provided in-depth analysis of the causes of life insurance claims, particularly for Australians of working age. This data is regarded as being unsurpassed anywhere else in the world for its granularity and timeliness.

FSC senior policy manager for life insurance, Nick Kirwan said, “New claims statistics tell us a lot about the differences between men and women and across all three product lines the messages are clear.”

• The top cause of death claims is cancer for both men and women.  For men, it accounts for 39 percent of all death claims, but for women it accounts for a huge 61 percent, of which 29 percent are breast cancer and itself the most common cause, followed by colon cancer (15 percent) and lung cancer (14 percent). The second most common cause for men is accidents, accounting for 20 percent, whereas for women it’s the third most common cause at seven per cent of female deaths.

• For total permanent disability (TPD) claims, mental health disorders top the list for both men and women at 24 percent and 27 percent respectively.  Once again, accidents come second for men at 17 percent, but for women it’s a different story, with accidents down in fifth place at just 11 percent.

• Income protection claims reveals further granularity about the differences between men and women. The top cause for both is accidents, but again we see men having relatively many more accidents than women at 38 percent versus 28 percent.  It also tells a different story for mental health, which comes in second for women at 22 percent, whereas for men it’s less than half that proportion at only 10 percent.

“This data confirms that for working age Australians, cancer is by far the biggest killer and it’s even more deadly for women than for men. We see that men have significantly more accidents than women, and women more mental health claims,” Mr Kirwan said.

“During this life insurance awareness week we encourage all Australians to check what life insurance cover they have - be aware of what you have and what you’re paying for. Give your superannuation trustee or life insurance company a call today so you and your family are secure no matter what happens.”

LIFE INSURANCE CLAIMS DATA FOR 2019

Data is sourced from the FSC-KPMG life insurance data project and APRA Life insurance claims and disputes statistics.

About the Financial Services Council

The Financial Services Council (FSC) has over 100 members representing Australia's retail and wholesale funds management businesses, superannuation funds, life insurers, financial advisory networks and licensed trustee companies. The industry is responsible for investing almost $3 trillion on behalf of more than 15.6 million Australians. The pool of funds under management is larger than Australia’s GDP and the capitalisation of the Australian Securities Exchange and is the fourth largest pool of managed funds in the world.

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AS AUSTRALIA  radically changes how we generate and use electricity, the 2020 Integrated System Plan (ISP) has been developed to provide a roadmap for our energy future.

The ISP provides a blueprint for strategic investments that are needed to support Australia's electricity transformation.

Energy Networks Australia CEO Andrew Dillon welcomed the release of the document today by the Australian Energy Market Operator (AEMO). Mr Dillon said the plan highlighted the critical role transmission would play.

"To handle the seismic shift expected in electricity generation by 2040, we will need targeted investment in key transmission connections," Mr Dillon said.

"Around the world, we're seeing countries embrace greater connectivity as part of managing the ever-increasing amounts of variable generation from renewables.

"The ISP shows that a more connected future makes sense for Australian energy customers too.

"The sheer scale of the energy transition in the National Electricity Market is outlined in the ISP with a predicted 200 per cent increase in household solar and batteries and a 63 per cent drop in coal generation by 2040."

Mr Dillon said this jump in variable generation and closure of synchronous plants would need to be carefully managed to ensure a strong and reliable electricity system.

"The ISP charts a path to managing the development of a more interconnected grid," he said.

"The priority for energy networks is ensuring these proposed developments are efficient and deliver customers a low-cost pathway to a more secure, affordable system.

"Networks will continue to deliver an efficient, reliable and affordable grid for customers."

About Energy Networks Australaia

Energy Networks Australia is the national industry body representing Australia's electricity transmission and distribution and gas distribution networks. Members provide more than 16 million electricity and gas connections to almost every home and business across Australia. 

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THE Australian Small Business and Family Enterprise Ombudsman Kate Carnell is concerned about a growing trend of insurance companies denying small businesses insurance and pricing them out of the market, launching an inquiry into insurance affordability and availability this week.

The inquiry will investigate the practices of the insurance industry that impact small businesses and consider whether small business insurance products are fit for purpose.

“My office has heard a number of complaints from small businesses regarding poor behaviour by insurance companies,” Ms Carnell said.

“Small businesses that have held insurance policies for over a decade without a single claim have been refused renewal. Others have discovered their renewal cost has more than doubled.

“We know of cases where small businesses with current policies have been subjected to major changes that have reduced their coverage without consent, and with no refund of premiums.”

The insurance inquiry will target a range of issues affecting small businesses including:

-       The availability and coverage of insurance policies provided to small business

-       Insurance policy affordability

-       The role of brokers in getting the right coverage

-       Contract changes that have not been agreed to and whether they amount to Unfair Contract Terms

-       Timeliness of insurance payouts and effectiveness of dispute resolution frameworks

-       The effectiveness of relevant codes of conduct and legislation, including if applicable penalties are adequate

“Insurance for small business is a practical and legal necessity,” Ms Carnell said.

“Small businesses can’t operate without public liability insurance but we are seeing entire industries either denied or facing unacceptably high charges. It’s a major issue that is forcing some small businesses to close.

“This creates a serious risk to Australia’s economic recovery at a very precarious time.”

Small and family businesses that have faced difficulties with their insurance companies are encouraged to complete an online survey or email This email address is being protected from spambots. You need JavaScript enabled to view it..

A final report is expected to be released by December.

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