Hollard has changed its product disclosure statements to help customers affected by family and domestic violence or financial abuse. 

The insurer’s products will include a formal definition of family and domestic violence, allowing it to take new actions when the issue is known or reasonably suspected. 

These include covering temporary accommodation for victims and prioritising settlement options that benefit them, such as repairing or rebuilding properties rather than opting for cash settlements.

Hollard CEO Paul Fahey says the changes are part of a commitment to social enterprise Flequity Ventures’ Respect and Protect campaign, which targets the weaponisation of financial products.

“These changes make it clear that we do not tolerate the use of our products to cause harm, and that when customers purchase a product from us, they can expect us to respond in a way that supports victim-survivors,” Mr Fahey said.

“We can now also help prevent customers from becoming unknowingly uninsured by making them a separate offer of insurance and support in cases where a perpetrator changes or cancels a policy.” 

Hollard has introduced staff training to help it identify and manage situations where family violence is known or reasonably suspected.

Flequity Ventures CEO Catherine Fitzpatrick says Hollard has set “a standard all insurers should follow. Insurance should be a safety net, but too often perpetrators of family and domestic violence exploit policies and claims processes to maintain control, leaving victim-survivors without the assets or financial security they need to rebuild their lives safely.”