Yeah the diff for me between E-bike and QBE is $150, not worth the unknown and that $150 is nothing compared to legal costs if you're not happy with an outcome from Southern Rock - you'd have to take insurer to court at your expense. E-bike are just an agent and claims processor, they're all kosher under Oz laws...but the beef would be with the underwriter wouldn't it? Southern Rock...over in Gibraltar!
Read APRA's view, old but relevant:
http://www.apra.gov.au/media-releases/03_44.cfm
Read APRA's view, old but relevant:
http://www.apra.gov.au/media-releases/03_44.cfm