Insurance News Wrap

On this episode of the Weekly Insurance News Wrap, we discuss pressing issues in Australia's financial services. The Australian Securities and Investments Commission (ASIC) signals plans for action due to concerns over the lack of transparency of professional indemnity insurance. An individual wins a dispute against HDI Global over an unforeseen medical expense that occurred during overseas travel...

In this week's Financial Services Online Weekly Insurance News Wrap, Paige Estritori discusses several key issues. A landmark ruling saw travel insurer HDI Global repaying a client's medical-treatment related accommodation costs following intervention from Australian Financial Complaints Authority. In the life insurance sector, a digital Personal Medical Attendant Report by Acenda promises to tack...

In this week's roundup, we cover a major update from the Victorian courts where Suncorp settled a class action costing $34m on misconstrued add-on insurance products. They plan to provide victims with monetary relief in the following year. Meanwhile, research from Victoria University suggests that the abolishment of insurance and stamp duties in Australia could lead to higher insurance uptake and...

In this podcast, Paige Estritori from Financial Services Online discusses the Weekly Insurance News Wrap for August 10, 2025. The episode covers a $34 million settlement by Suncorp in a class-action lawsuit concerning their add-on insurance products, and the impact of such cases on their financial status. It further delves into a recent study by Victoria University suggesting the inefficiency of i...

In this week's podcast, Paige Estritori discusses key developments in Australia's financial services sector. Topics include a $34 million settlement concerning add-on insurance products involving Suncorp, and an important study from Victoria University on insurance and stamp duties indicating a significant economic loss. The Australian Financial Complaints Authority sided with a business in a mach...

On the Weekly Insurance News Wrap, Paige Estritori discusses key updates from Australia's insurance sector. Victoria University's recent study challenges current insurance and stamp duty taxes, suggesting more economically viable alternatives like GST or personal income tax, which may lead to higher insurance rates and increased economic productivity. The Australian Financial Complaints Authority...

In this episode of the Weekly Insurance News Wrap, we discuss a landmark machinery damage lawsuit between a policyholder and QBE, where the Australian Financial Complaints Authority ruled in favor of the policyholder. We then head to Brisbane, where IVAA Claims' fraud detection tool earns top honors in the Beyond the Buzzwords pitch competition. We also delve into the alarming shortage of affordab...

In this week's Financial Services Online podcast, Paige Estritori reports on the industry's latest news. Key highlights include the success of Brisbane-based firm, IVAA Claims, in preventing $2 million in fraudulent claims with their innovative fraud detection tool. Concerns are raised over the lack of affordable life insurance advice accessible to young Australians, with only 11% of 18-to-34-year...

In this episode, Paige Estritori covers the latest Australian insurance sector news. The Council of Australian Life Insurers (CALI) highlights the need for reforms to close the financial advice gap for young Australians and a possible introduction of a new advisor class by the Federal Government. A digital revolution is touching life insurers with innovative solutions like EQ Pathology's HealthIQ...

In this Weekly Insurance News Wrap, we start with a notice on the Council of Australian Life Insurers (CALI) commencing a thorough, year-long review of the Life Insurance Code of Practice. Led by former ASIC and ACCC deputy chair, Peter Kell, the review will highlight systemic issues including claim handling for mental health and claim process appropriateness. We then wade through a ground shaking...

This week's Insurance News Wrap highlights significant upcoming changes in the Australian life insurance industry. Peter Kell will lead a review of the Life Insurance Code of Practice, looking to enhance consumer outcomes in aspects like mental health claim handling. Meanwhile, a dispute resolution clarified policy understanding in a case between PetSure and the Financial Complaints Authority. In...

This Australian Financial Services podcast, hosted by Paige Estritori, presents critical industry news and updates. A major highlight is Peter Kell's impending review of the Life Insurance Code of Practice, focusing on mental health claims handling, claim process appropriateness, and code enforceability, with findings due by June next year. The pet insurance sub-sector also undergoes examination a...

In this week's insurance news, Financial Services Online discusses a pet insurance case that underlines the importance of understanding policy fine print. A dog owner's claim was limited to a capped payout for a ligament injury, leading to calls for insurers to provide clearer policy documentation. The podcast also analyzes the retail life insurance sector under pressure, despite a $9.4 billion an...

This week on Financial Services Online, Paige Estritori covers significant events in Australian insurance industry. Retail life insurance sector, responsible for underwriting $9.4 billion in annual premiums, struggles with increasing prices and minimal new business growth. However, rising incomes open up chances for expanding into new markets. The New South Wales government faces financial strain...

This episode of 'Weekly Insurance News Wrap' highlights key issues across the Australian insurance industry. Topics include the New South Wales government pushing for workplace mental injury law reforms, potentially saving $6 million a day in compensation costs. However, critics argue the reforms could disqualify workers suffering from mental health issues from benefits. In other news, the Austral...

In this week's episode, Paige Estritori discusses key events in Australia's insurance sector, including AFCA's dismissal of a travel claim due to policy misinterpretation, prompting reminders of the importance of understanding policy terms. Brokers are addressing insurance affordability in cyclone-impacted areas, with fee-based models being favored. Despite the cyclone reinsurance pool set up in J...

In this week's Financial Services Online podcast, Paige Estritori wraps up major Australian insurance stories. Highlights include a traveler denied compensation from AIG for flight costs due to misunderstanding of policy terms, implying the need for clarity in travel insurance coverage. Ongoing challenges in cyclone insurance affordability persist, with brokers moving to fee-based models and the A...

In this episode of the Weekly Insurance News Wrap, host Paige Estritori discusses key insurance news stories. The episode starts with a travel insurance case concerning flight disturbances due to potential pilot strikes. Its resolution emphasises the need for clear understanding of policy terms and coverage by both insurers and consumers. In home insurance, Estritori highlights a case addressing s...

This week's podcast by Financial Services Online highlights critical updates from the Australian insurance industry. The importance of understanding the terms of travel insurance was showcased with an unjustified claim's rejection by AFCA. The ongoing issue with cyclone insurance affordability has brought to light potential solutions such as brokers adopting fee-based models. A homeowner was denie...

This edition of the Weekly Insurance News Wrap, hosted by Paige Estritori for Financial Services Online, discusses some of the key recent issues in Australia's insurance sector. Major points include a disputed travel insurance claim highlighting the need for clearer policy terms, changes being considered for cyclone policies to address affordability challenges, a homeowner's claim denial due to fa...

In this episode of the "Weekly Insurance News Wrap," host Paige Estritori discusses major topics in personal and business insurance. In New South Wales, a workers' compensation scheme reveals underinsurance problems, with $60 million in premiums uncollected due to employer non-compliance. As a result, stricter measures are being introduced. A case involving RAC Insurance and the Australian Financi...

This episode of Financial Services Online covers significant news in Australia's industry. Microsoft's recent security breach in SharePoint highlights the ongoing challenge of cybersecurity risks faced by organizations globally. The Australian Financial Complaints Authority (AFCA) ruled against leading life insurer, TAL, for abruptly halting income protection payments without prior notice and orde...

In this podcast, Paige Estritori discusses key developments in Australia's insurance sector covering a range of topics from governmental programs to sector changes and growing mental health claims. Tasmania's Premier and the Liberal Party propose TasInsure, a state-backed insurance scheme aimed at savings for households and businesses, amid criticism of potential unsustainability. The podcast also...

In this episode, Paige Estritori updates on key happenings in the Australian insurance sector. The Australian Financial Complaints Authority has ruled in favor of a policyholder in a storm damage dispute against Auto & General, emphasizing the need for robust claim assessment evidence. The emerging green energy trend is reshaping the home insurance landscape due to potential risks and economic out...

This episode of the Weekly Insurance News Wrap discusses key topics concerning the insurance industry in Australia. The program starts with an AFCA ruling in favor of a policyholder in a storm damage dispute case against Auto & General, highlighting the importance of robust evidence in claims assessments. The rise of residential solar panels and battery systems is poised to revolutionize the home...