Insurance News Wrap

In this episode, Paige Estritori discusses major insurance industry updates from Australia. The Insurance Council of Australia collaborates with the government to address soaring insurance costs in flood-prone areas. They are exploring various interventions, including reinsurance pools and subsidies. Meanwhile, an incident within the motor insurance industry serves as a reminder for drivers to mai...

In this episode of the Weekly Insurance News Wrap, host Paige Estritori discusses key news relating to Australia's insurance industry. The Australian Financial Complaints Authority (AFCA) made a noteworthy judgement against a motorist who purchased insurance from Suncorp after an accident. AFCA reinforced that insurance coverage is only valid from the purchasing time, highlighting the importance o...

In this weeks Insurance News Wrap, host Paige Estritori discusses key highlights from Australia's insurance industry. Starting with the Australian Financial Complaints Authority ruling on an important case, the podcast underlines that insurance coverage starts once a policy is active, and correct reporting of damages is crucial. It also discusses life insurance giant TAL's enormous strides in effi...

This week's Insurance News Wrap presented by Paige Estritori centres on significant events within Australia's insurance sector. Key headlines include a landmark ruling by the Australian Financial Complaints Authority against a motorist who expected retroactive coverage from Suncorp. The ruling emphasized the critical point that insurance coverage starts only after policy activation and non-retroac...

In this week's podcast, Paige Estritori reviews key developments in Australia's insurance industry. A spotlight is on TAL's record claim processing, disbursing a total over 4 billion dollars half of which was digitally processed within 24 hours, impacting 50,000 Australians predominantly wrestling with injuries and illnesses. TAL's success lies in strategic investment in digital technologies and s...

This podcast, by Paige Estritori for Financial Services Online, explores the latest news from the insurance sector. Main discussion points include a Senate probe into the impact of climate change on insurance costs, led by Greens Senator Mehreen Faruqi, and a reported 0.4% increase in total risk premiums, according to Dexx&r, amidst varying trends in the industry. Post the 2022 floods, Melbourne's...

The Weekly Insurance News Wrap covers key industry developments. Recent focus has been on the Australian Senate's examination of insurance availability and costs in light of increasing climate change risks. The Insurance Council of Australia has committed to support this, reinforcing its devotion to community safety and efficient disaster management. Meanwhile, the life and risk market struggles,...

In this week's Insurance News Wrap, we explore Australia's weak life/risk insurance market, which saw only a 0.4% increase in total risk premiums, according to Dexx&r research. Highlighting a shift in the sector, disability businesses experienced an atypical growth of 7.3%. However, the group insurance saw a 1% drop. The episode also covers residents of western Melbourne's complaints about insuran...

This podcast covers key developments in the insurance industry. It explores effects of adviser shortages and policy changes from APRA on the life and risk market, noting a modest growth in total risk premiums but decrease in individual risk lump sum businesses in 2023. The podcast highlights a surge in disability income business and discusses the industry's response to the 2022 Melbourne floods wi...

In this new episode of Financial Services Online's podcast, Paige Estritori discusses the latest Australian insurance news. The episode highlights complaints from Melbourne residents unhappily encountering delays, mismanagement and poor communication from insurance companies during the federal inquiry hearing into their responses to the 2022 floods. The episode also flows into news about Allianz's...

This episode of Weekly Insurance News Wrap from Financial Services Online discusses a landmark insurance claim case, where an Australian tourist faced complications with Lloyd's insurance over the lack of pre-approval for his air ambulance from Thailand. Lloyd's resisted his claim, but the Australian Financial Complaints Authority (AFCA) stepped in, directing Lloyd's to honour the full claim, in a...

In this week's episode of Financial Services Online's Weekly Insurance News Wrap, host Paige Estritori discusses an Australian tourist who secured a $195,223 compensation from Lloyd's Insurance despite their initial refusal due to lack of pre-approval. The Australian Financial Complaints Authority backed the tourist, who had fallen severely ill in Thailand, asserting the urgent need for repatriati...

In this Weekly Insurance News Wrap, Paige Estritori covers significant updates from the Australian insurance sector. Firstly, the Australian Financial Complaints Authority (AFCA) ordered Lloyds Insurance to pay a $195,223 claim related to a medical emergency. The case involved an Australian tourist that required medical evacuation from Thailand. Secondly, Club Marine, an Allianz subsidiary, confir...

This week's Insurance News Wrap hosted by Paige Estritori from Financial Services Online highlights key developments in the Australian insurance sector starting with an Australian Financial Complaints Authority (AFCA) ruling in favor of a 74-year-old tourist, who incurred an unexpected $195,223 air ambulance bill in Bangkok. Insurance provider, Lloyd's, was ordered to pay the entire bill against i...

In this week's episode of the Financial Services Online Insurance News Wrap, we discuss Tim Wiles's confirmed appointment as CEO of Club Marine, Australia's premier provider of recreational boat insurance. After an interim period, Wiles officially took the reins, promising increased stability and future growth. We also considered the ongoing investigation into Netstrata, a prominent strata managem...

In this episode, Paige Estritori of Financial Services Online delivers weekly insurance news around Australia. The announcement of Tim Wiles as the permanent CEO of Club Marine, a leading recreational boat insurance provider, leads the news. Wiles, commended for his leadership and depth of experience, is expected to bolster the company's standing. The podcast then explores concerns on transparency...

This week's episode features several key topics within the insurance industry. We discuss Club Marine's new CEO, Tim Wiles, a dedicated veteran of marine insurance. His leadership is predicted to cement Club Marine's status as Australia's leading recreational boat insurer and to drive further market growth. Meanwhile, Netstrata, a major strata management company, is under investigation by the NSW...

In this episode of the weekly Insurance News Wrap, Paige Estritori discusses pertinent industry developments. Key topics include Tim Wiles' appointment as permanent CEO of Club Marine, enhancing the company's market position as a leading marine insurer. Netstrata, a Strata management company, faced scrutiny over high brokerage fees and undisclosed benefits, triggering a leadership change and in-de...

In this week's insurance news, major concerns have sparked an inquiry into top Australian strata management company, Netstrata, concerning high insurance brokerage fees and undisclosed benefits. The firms Managing Director resigned from the Strata Community Association but affirmed their cooperation with the investigation. Former insurance broker Sean Sweeney also made headlines as his lifetime fi...

In this week's episode of the Weekly Insurance News Wrap, Paige Estritori discusses various industry updates, such as the appeal dismissal of former insurance broker Sean Sweeney due to his fraudulent history, highlighting the zero-tolerance stance on breaches of ethics in the industry. A pivot to Bellrock reveals their plans to heighten advisory services for business deals, while a story from Zur...

In this episode of the Weekly Insurance News Wrap, we cover major events in the Australian insurance industry. We discuss the upholding of former insurance broker Sean Sweeney's lifetime financial services ban, emphasizing the industry's zero-tolerance approach to ethical breaches. Next, we highlight Bellrock's recent enhancements to their advisory services to now include support for mergers and a...

This podcast covers a range of issues in the insurance industry. It explores the confirmation of a lifetime ban for Sean Sweeney, former broker with Sweeney Insurance Services, due to ethical breaches and misappropriation, underscoring the industry's stern stance on misconduct. Attention is also drawn to Bellrock's enhanced support for specialized risk management solutions in complex business tran...

In this episode of the Weekly Insurance News Wrap, we discuss major developments in Australia's insurance industry. Former insurance broker Sean Sweeney's appeal against a lifetime industry ban was rejected, reinforcing industry regulators' commitment to ethical conduct and consumer trust. Advisory firm Bellrock announced the expansion of their services to support mergers and acquisitions, with ne...

In this podcast, Paige Estritori of Financial Services Online brings the latest news from Australia's insurance industry. The episode emphasizes the importance of transparency after an insurance claim was denied due to undisclosed criminal conviction. Further discussed is the need for changes to cyclone insurance subsidies by the Australian Consumers Insurance Lobby, with the aim to extend post-cy...

In this Weekly Insurance News Wrap from Financial Services Online, host Paige Estritori discusses key insurance issues. Firstly, the Australian Consumers Insurance Lobby is pushing for changes to Australia's cyclone insurance framework, including a fairer distribution of costs and broader coverage. However, these reforms are facing pushback. Secondly, she discusses the impact of inefficient insura...