Insurance News Wrap

On this week's edition of the Weekly Insurance News Wrap, host Paige Estritori covers noteworthy events in the Australian insurance industry. The discussion highlights a recent ruling by the Australian Financial Complaints Authority (AFCA) against the insurer Hollard in a mould contamination dispute. Despite Jack Hollard's efforts, mould issues continued, and Hollard's remediation methods were cri...

In this episode, we discuss a nationwide debate among insurance brokers who challenge Opposition Leader Peter Dutton's strategy of breaking up insurers to lower premiums. Insurtech leader Scott Norton and other prominent industry figures argue for improved disaster readiness and tax reform over divestment. In other news, the Insurance Council of Australia proposes a $30.15 billion plan aimed at co...

In this episode of the Weekly Insurance News Wrap, key figures in the Australian insurance industry examine Opposition Leader Peter Dutton's divestment strategy, contesting high premiums are more related to inadequate disaster preparedness, not big insurers. The Insurance Council of Australia also proposes a $30.15 billion initiative focused on flood disaster readiness. The initiative aims to inve...

In this week's episode, Paige Estritori of Financial Services Online discusses key issues impacting the Australian insurance sector. She discusses controversy over a plan proposed by Opposition Leader Peter Dutton to dismantle major insurers in a bid to reduce premiums, while industry players call for greater focus on disaster preparedness and economic issues instead. Meanwhile, Insurance Council...

In this episode of the Weekly Insurance News Wrap, we first discuss the controversial divestment strategy proposed by Opposition Leader Peter Dutton aimed to lower insurance premiums, which has sparked a debate about disaster preparedness versus breaking up large insurers. Next, the Insurance Council of Australia's proposal of a major $30.15 billion flood defence fund as part of their election age...

This episode of Financial Services Online's Weekly Insurance News Wrap delves into the Australian insurance sector's hot topics. Amid critique of Peter Dutton's plan to break up insurers for lower premiums, industry insiders argue the root cause of high prices is a lack of disaster preparedness. The Insurance Council of Australia proposes a $30.15 billion flood defence fund as part of their electi...

This week's episode of the Weekly Insurance News Wrap, presented by Financial Services Online discusses several major insurance issues in Australia, including a proposed $30.15 billion Flood Defence Fund by the Insurance Council of Australia. The initiative coordinates with state administrations to counter the mounting financial burden from flooding, with last year's claims hitting $32 billion. Ad...

This week's Insurance News Wrap delves into the Insurance Council of Australia's ambitious $30.15 billion flood defence proposal aimed at mitigating the impact and costs of floods. As rising living costs and incoming premium hikes prompt Australians to reconsider their health insurance coverage, Health Insurance expert Tim Bennett warns against short-term savings that can result in unforeseen expe...

In this episode of the Weekly Insurance News Wrap, Paige Estritori presents updates from the Australian insurance industry. Details include the Insurance News Outlook 2025 Conference taking place on March 12 in Sydney, anticipated to feature discussions on the industrys future, technology advancements, and regulatory priorities. The episode also addresses the Australian Greens policy proposal to r...

This podcast recap brings you the weekly insurance news from Financial Services Online. An upcoming event, the Insurance News Outlook 2025 Conference in Sydney, will cover the future of insurance including emerging risks, tech advancements, and evolving brokerage. Legislative measures are making waves - the Australian Greens propose a comprehensive plan to dramatically lower insurance costs, which...

In this week's Weekly Insurance News Wrap from Financial Services Online, key updates include the Coalition's pre-election pledge to ease capital and compliance costs in the insurance sector, a move supported by the Insurance Council of Australia. This aims to improve consumer access to insurance and address the industry's billion-dollar compliance burdens. Scrutiny is also raised on New South Wal...

In this week's podcast, Paige Estritori from Financial Services Online discusses key issues in the insurance industry. A pre-election pledge by the Coalition potentially reduces compliance costs in Australia's insurance sector, aiming to stabilize financial considerations and cut consumer costs despite challenges from natural disasters. In New South Wales, a proposed legislation to ban claims farm...

In this week's Financial Services Online podcast, Paige Estritori examines the Coalition's pledge to cut capital and compliance costs in Australia's insurance sector in efforts to better consumer access and investment allure. Angus Taylor advocates for optimizing the Prudential Regulation Authority's capital rules to fortify both financial stability and attract investment. The podcast also highlig...

In this edition of Financial Services Online's Weekly Insurance News Wrap, Paige Estritori discusses the Insurance Council of Australia's proposal for a $30.15 billion flood defence fund to be spread over a decade, aiming to mitigate Australia's flood risks. Key strategies include strengthening flood infrastructure, reinforcing properties, and acquiring vulnerable homes. ICA CEO Andrew Hall emphas...

In this week's podcast, host Paige Estritori discusses an impactful court ruling within Australia's insurance sector. The verdict in a landmark case involving denial of a Total and Permanent Disability claim centered around a contested exclusion clause. The case, won by an individual known as Mr R, has major implications for the interpretation of such exclusion clauses in future insurance claims....

This week's Insurance News Wrap includes a landmark court ruling in Australia, where the court sided with a policyholder who challenged his insurance company's denial of a Total and Permanent Disability claim. This decision could influence future interpretations of insurance exclusion clauses. Substantial growth in home insurance premiums is impacting an estimated 1.6 million households across Aus...

In this week's episode, Paige Estritori discusses key events in the Australian insurance industry, including a precedent-setting court ruling challenging insurance exclusion clauses and highlighting the need for clearer policies. She also reports on the crisis of soaring home insurance premiums affecting 1.6 million households due to the escalating impacts of climate change on claims. Another note...

On this episode of the Weekly Insurance News Wrap, we discuss a landmark Australian court ruling favoring a policyholder with a disability claim against a contested exclusion clause, setting a precedent for future disputes. Next, we examine the impact of rising insurance premiums on Australian households, underlined by the Actuaries Institute's report indicating that soaring premiums are outpacing...

This episode discusses key issues affecting the Australian insurance sector. A pivotal court ruling challenges the interpretation of insurance exclusion clauses, empowering policyholders and demanding increased transparency from insurance companies. Rising insurance premiums present a major problem for Australian households. A 9% surge in home insurance due to climate-change-induced natural disast...

In this week's insurance news recap, we discuss a landmark court ruling involving controversial exclusion clauses in disability claims. A homeowner insurance hike is affecting 1.6 million Australian households, with premiums increasing by 9% due to climate change worsening natural calamities. Additionally, there's a case where the Australian Financial Complaints Authority favored a policyholder ov...

In this episode of the 'Weekly Insurance News Wrap', host Paige Estritori covers three major stories from Australia's insurance sector. Firstly, the Actuaries Institute reports a 9% increase in home insurance premiums, affecting 1.6 million households due to climate-change-related disasters. Opposition leader, Peter Dutton, calls for a governmental response. Secondly, the Australian Financial Comp...

In this week's episode, Paige Estritori from Financial Services Online discusses rising insurance premiums affecting 1.6 million Australian households as a result of climate change-induced severe weather events. The episode also covers a landmark decision by the Australian Financial Complaints Authority ruling in favor of a policyholder in a motor insurance dispute despite initial doubts from the...

The podcast covers recent developments in the insurance industry. There is ongoing debate concerning risk commission caps in the sector, with key figures advocating for a review of the current Life Insurance Framework. According to a recent poll, a slim majority supports an 80/20 commission structure or keeping the current cap. Meanwhile, businesses globally have seen a reduction in commercial ins...

In this week's Financial Services Online insurance news wrap-up, Marsh's commercial price monitor reports an 8% reduction in insurance rates in Australia for the final quarter of 2025, the largest worldwide decline. DBD Developments, a Perth construction firm, has been fined for starting a project without mandatory Home Indemnity Insurance, highlighting the importance of compliance. In New South W...

In this edition of the Weekly Insurance News Wrap, we discuss the recent reductions in insurance rates, led by Australia with an 8% decrease according to Marsh's commercial price monitor. This encouraging development shows a more client-friendly business environment due to heightened competition. In other news, a construction firm in Western Australia was penalised for initiating construction with...