Insurance News Wrap

In this week's news wrap, Finity highlights the rise of solar panels and battery systems in homes, changing the landscape for home insurance policies. With the potential for unprecedented economic losses, insurers will have to develop new strategies to deal with this new era of energy management. Meanwhile, mental health-related claims have soared in life insurance sector, calling insurers to crea...

In this episode, host Paige Estritori highlights the critical increase in mental health-related claims confronting the Australian insurance industry. Claims have nearly doubled over the past few years, contributing to a record payment of $2.2 billion last year. Total and Permanent Disability (TPD) claims - mainly driven by mental health issues - are now the leading cause amongst younger Australian...

This podcast episode delves into key topics in the Australian insurance industry, including QBE's urging for landlords to reassess their coverage due to potential risks and financial distress. It discusses a negligence case in Joondalup concerning an e-scooter collision, setting a significant precedent. Rising mental health issues are spotlighted as a major contributor to Total and Permanent Disab...

This week's Weekly Insurance News Wrap covers significant occurrences in the insurance industry. A landmark ruling in West Australia has set a potential new standard for handling negligence cases, as City of Joondalup won against allegations over a local e-scooter accident. Additionally, a sharp rise in mental health-related Total and Permanent Disability claims has been noted by the Council of Au...

In this episode of "Insurance News Wrap," Paige Estritori discusses worldwide insurance trends and key notes within the Australian sector. International insurance premium growth is slowing, influenced by "America First" trade policies from the Trump era. Despite global economic uncertainties, the Australian insurance sector is experiencing steady profitability. Contrarily, the Australian life insu...

In this episode of the "Weekly Insurance News Wrap," host Paige Estritori discusses key issues affecting the insurance industry in Australia and globally. The broadcast covers America's tariff strategies' potential impact on the Global property and casualty insurance market, with concerns about slower growth in insurance premiums worldwide. However, Australia's insurance sector is expected to grow...

In this week's episode of Financial Services Online's Weekly Insurance News Wrap, Paige Estritori analyzes global property and casualty insurance trends, noting a slowdown in premium growth due to US trade policy shifts. The episode highlights the resilience of Australia's insurance sector, which continues to post strong profits despite persistent market challenges, with premium volume reaching $9...

In this week's 'Weekly Insurance News Wrap', Paige Estritori discusses recent global insurance developments with a focus on Australia's resilient sector, projecting a steady return on equity of 9.7% through 2027. She covers the potential impacts of US tariffs under the 'America First' trade policies, dampening global premium growth. Discussing domestic industry, Estritori explores the life insuran...

In this weekly insurance news wrap, significant developments in the Australian insurance industry have been highlighted. The ASIC is escalating a legal battle over HCF Life's pre-existing conditions clause. Despite a recent $750,000 fine against HCF, the case could have widespread implications for consumer protections and regulatory environments. The episode also highlights calls for strata law re...

In this week's Insurance News Wrap, major events included a denial of an insurance claim related to an asbestos-contaminated mulch scare due to contamination exclusions policy, underscoring the importance of businesses reviewing their insurance frameworks. A NSW case has potential implications for future caretaking expenses in injury claims, as compulsory third-party insurers may be required to co...

Paige Estritori covers the latest in Australian insurance news, from government proposals to surprising court decisions. The podcast discusses the controversy surrounding the Tasmanian government's plan to transform the Motor Accidents Insurance Board into state-run insurer, TasInsure, an initiative that's creating industry backlash. It touches on challenges businesses face in making insurance cla...

This episode of the Weekly Insurance News Wrap features significant updates from the insurance industry, covering business interruption claims, landmark legal rulings, weather-driven losses, and leadership changes. A Sydney hospitality business faces challenges claiming financial losses from interruptions caused by asbestos-contaminated mulch; the decision sets precedent about insurance coverage f...

This week's 'Weekly Insurance News Wrap' includes details of an asbestos scare in Sydney leading to financial loss of a hospitality business due to claim rejection by insurer, Suncorp. A landmark case from the Personal Injury Commission rules that car crash victim Jeffrey Forrest will have his dog walking service costs covered by his third-party insurer, QBE, redefining attendant care services. Fi...

In this week's installment of Financial Services Online, we discuss major financial news from across Australia. Key subjects include a Sydney hospitality company's lost claim with insurer Suncorp over asbestos-contaminated mulch, and a breakthrough injury claim with QBE set to cover dog walking services for a car crash victim suffering from PTSD. The episode continues with the challenge faced by A...

This podcast discusses key updates from the insurance sector. The Personal Injury Commission of New South Wales expanded definitions of care services in injury claims, due to a lawsuit involving a car crash victim's struggle with dog-walking costs post-recovery. Extreme weather events in Australia have caused insurers significant financial losses, totaling to $1.8 billion in the first half of the...

This podcast discusses important updates in Australia's insurance industry. Initially, it talks about Peter Tilocca's appointment as the Head of Underwriting at life insurance company ClearView. Tilocca is expected to help streamline processes with his twenty years of experience. ClearView has been implementing changes to simplify their process, particularly in their medical underwriting framework...

In this episode of Financial Services Online's Weekly Insurance News Wrap, host Paige Estritori covers major updates in the insurance industry. She discusses strategic changes at ClearView, such as the appointment of Peter Tilocca as the new Head of Underwriting and the revisions in medical underwriting frameworks to simplify procedures for coverage sums under two million dollars. Updates also inc...

In this episode, Paige Estritori discusses key developments in the Australian insurance industry. Peter Tilocca, a seasoned expert, is named Head of Underwriting at ClearView Life Assurance. ClearView initiates several changes, such as updating underwriting standards to encourage growth and refining trauma definitions in their product line for better coverage. The Australian Financial Complaints A...

In the Australian insurance sector, noteworthy developments have occurred this past week. The Australian Financial Complaints Authority (AFCA) upheld an intriguing decision by RACQ Insurance denying a claim related to a curious road accident. The case highlighted values of honesty in dealing with insurers. Subsequently, the Life Code Compliance Committee criticized an unnamed life insurer for send...

In this episode of the Weekly Insurance News Wrap, host Paige Estritori discusses key insurance stories in Australia. Topics include a case where RACQ Insurance's decision to reject a crash claim was upheld, highlighting the importance of honesty and robust verification in claims. An undisclosed life insurance provider was criticized for misleading rejection letters, emphasizing the need for trans...

This week's Insurance News Wrap discusses transparency and clarity in the Australian insurance industry. Major highlights include a ruling by the Australian Financial Complaints Authority (AFCA) where RACQ Insurance's decision to reject a motorists fraudulent claim was upheld, emphasizing the need for rigorous verification practices in the industry. The Life Code Compliance Committee criticised an...

This episode of Financial Services Online's Weekly Insurance News Wrap covers significant events from the Australian insurance sector. It kicks off with a case of suspected insurance fraud where the Australian Financial Complaints Authority (AFCA) sided with RACQ Insurance after irregularities arose in a damage claim. The episode also touches on a life insurance provider who faced censure for send...

In this podcast, Paige Estritori discusses key events in Australia's insurance industry. A life insurance provider has been reprimanded for misleading rejection letters, resulting from omission of details like review procedures, leading to a call for clearer communications. Further confusion in the sector arises from an Australian Financial Complaints Authority ruling over ambiguous policy terms r...

On this episode of the Weekly Insurance News Wrap, we explored a series of key issues in the Australian insurance industry. The Life Code Compliance Committee reprimanded an anonymous life insurance provider for misleading rejection letters. Meanwhile, confusing policy wording surrounding patio coverage resulted in the Australian Financial Complaints Authority ordering an insurance provider to ful...

In this week's insurance wrap-up, Paige Estritori discusses key issues shaping Australia's insurance landscape. The Australian Financial Complaints Authority ordered an insurer to cover a disputed storm claim, highlighting the need for clear policy language. Aon's Climate and Catastrophe Insight Report shows Australia's catastrophe losses are at their lowest since 2004, but warns that high insuran...