Insurance News Wrap

In this podcast episode, Paige Estritori of Financial Services Online dives into the latest developments in the Australian insurance sector. Major topics include the shortcomings of insurance responses to the 2022 flood-affected Victorian communities, as revealed by a Legislative Assembly inquiry. The situation emphasizes on setting defined response times to help quick recovery of affected communi...

In this episode of Weekly Insurance News Wrap, we cover AFCA's ruling that a damaged vintage car, whether operational or not, is exempt from home insurance, highlighting the need for comprehensive coverage for unique vehicles. We also discuss increased satisfaction with insurers' handling of claims amidst recent floods, while pointing to concerns over a trend towards self-insurance amongst small b...

In this week's podcast, Paige Estritori highlights key insurance news. Discussions include a vintage car owner's claim dispute with Allianz that leads to the Australian Financial Complaints Authority (AFCA) paying a $1,000 compensation and sparking a warning about the limitations of home insurance policies for antique vehicles. Praise is given to insurers for their improved response to flood claim...

This 'Weekly Insurance News Wrap' focuses on the importance of understanding your insurance policy's fine print. Notable stories include an Australian classic car owner faced with a declined home insurance claim after his non-operational Mercedes-Benz 280e suffered damage. The AFCA stressed that mechanical vehicles, operational or not, aren't covered by home insurance. Responses to recent Australi...

In this week's Insurance News Wrap, host Paige Estritori discusses a variety of hot-button insurance issues. First, the Australian Financial Complaints Authority (AFCA) denied an enthusiast's claim for his damaged 1970 Mercedes-Benz 280e, highlighting the importance of understanding insurance policy conditions. Then, the focus shifted to the increasing efficiency in handling insurance claims amid...

In this week's episode, we explore a range of insurance-related stories affecting Australia. A vintage car enthusiast's home insurance claim for a damaged 1970 Mercedes-Benz 280e was rejected by the Australian Financial Complaints Authority (AFCA) as they clarified that motor vehicles are separate from home insurance policies. Following previous floods, communities have detected improvements in cl...

In this episode of the Weekly Insurance News Wrap, host Paige Estritori discusses top stories from the Australian insurance industry. Key points include the improved handling of insurance claims in flood-affected communities, a trend towards self-insurance among small businesses, and the importance of comprehensive travel insurance coverage, as exemplified by a traveler's denied claim following a...

In this week's insurance news podcast, key topics include the importance of understanding your insurance policy terms as highlighted by a traveler's failed claim for losses incurred due to Hawaiian wildfires. The podcast also discussed a significant decrease in life insurance coverage amongst working-age Australians in the past five years, influenced by legislative changes. However, income protect...

In this episode of the Weekly Insurance News Wrap, Paige Estritori reflects on recent trends in Australia's insurance industry. A significant decrease in life insurance coverage in the previous half-decade is reported, likely due to changes in the "Protecting Your Super" act aimed at preserving superannuation funds. Despite the growing under-insurance gap and a decreasing number of life insurers a...

In this episode of the Weekly Insurance News Wrap, host Paige Estritori discusses insights from the Australian insurance industry. Key highlights include the significant decline in life insurance participation due to the 'Protecting Your Super' legislation, adversely affecting an estimated 3.4 million Australians. However, potentials for market recovery are bolstered by the Australian Prudential R...

In this weekly insurance news wrap, Paige Estritori reports on declining life insurance coverage in Australia due to legislation influencing automatic coverage. This decline has led to an estimated under-insurance gap for 3.4 million people. Despite this, increased prices and changes to capital amendments have made income protection products more appealing, leading to signs of potential market rec...

In this episode, Paige Estritori presents key updates from the Australian insurance industry. Topics covered include a decreasing trend in life insurance coverage for working-age adults, due mainly to the Protecting Your Super legislative changes. The Council of Australian Life Insurers warns of an under-insurance gap potentially impacting 3.4 million people. Despite this, signs of potential marke...

In this week's financial podcast, Paige Estritori shares the latest trends and news from Australia's insurance sector. Key topics include the shift towards sustainable insurance policies with insurance companies beginning to consider environmental, social, and governance factors. The Australian Prudential Regulation Authority has initiated an investigation into the impact of climate risks on the i...

In this episode of the Weekly Insurance News Wrap, Paige Estritori discusses the ongoing federal inquiry into insurance practices in the wake of the 2022 Queensland floods. The investigation, led by Daniel Mulino, has uncovered marked discrepancies in loss evaluation, often due to confusing insurance jargon. The need for clear, tenant-centric policies and fair settlements for disaster-affected res...

In this episode, Paige Estritori discusses significant developments in the Australian insurance industry. A federal inquiry, led by Daniel Mulino, is scrutinising insurer practices after the 2022 Queensland floods to understand residents' difficulties with insurance claims. Advocacy groups support a push for clearer communication and tenant-centred policies. Australia and New Zealand's increasing...

This episode of the weekly insurance roundup with Paige Estritori from Financial Services Online highlights key developments in the insurance industry. The podcast discusses the pressing issue of Queensland residents struggling to understand complicated insurance jargon and dealing with unsatisfactory settlement offers because of the floods in 2022. It also highlights the financial impacts of natu...

The podcast covers the Australian insurance sector. A key topic is the inquiry into insurer practices following the 2022 floods in Queensland. The investigation highlights issues such as substandard settlement offers and discrepancies in loss evaluations. It also criticises complex insurance language and procedures. Advocacy groups emphasise difficulties for renters, the undervaluation of repair c...

In this episode, Paige Estritori delivers a roundup of recent events in the Australian insurance sector. Discussed issues include a federal inquiry into insurance practices after the 2022 Queensland floods, with concerns raised about complex language, poor settlement offers, and neglect of vulnerable policyholders. There's a spotlight on the 9% increase in claims handling errors, suggesting a sign...

In this weekly installment of Financial Services Online's insurance news wrap-up dated April 12th, 2024, host Paige Estritori discusses top stories shaping the industry. The podcast delves into a federal inquiry in Queensland investigating insurance claim procedures after devastating floods in 2022 and troublesome insurance practices. A spotlight on Australia's increased vulnerability to severe we...

In this week's wrap, Financial Services Online discusses the ongoing aftereffects of the 2022 floods in Queensland, with a federal inquiry into insurance practices revealing issues with unclear policies, unsettling settlement offers and gaps in loss evaluation. A 9% rise in code obligation breaches within the financial services sector signals a critical need to enhance compliance and customer serv...

This podcast summarizes the week's crucial news from the Australian insurance sector. It discusses Australia's increasing climate vulnerability, disclosed by Aon's data, which showed insured losses of over $1 billion due to Cyclone Jasper and heavy floods. It emphasized the global effect of these climate-related incidents, necessitating innovative risk mitigation solutions and societal adaptation....

In the latest 'Weekly Insurance News Wrap' hosted by Paige Estritori, we discuss several high-profile insurance situations. First, the Australian Financial Complaints Authority has directed QBE to pay an additional $65,000 to a Tasmanian policyholder. QBE was found culpable for the unnecessary delay in restoring a fire-damaged bed and breakfast due to poor oversight of its third-party adjusters. O...

In this episode, Paige Estritori from Financial Services Online shares significant news from the insurance industry. The State Insurance Regulatory Authority (SIRA) has put nine construction companies on notice for operating without mandatory home building compensation insurance in New South Wales. In travel insurance news, a Melbourne couple's claim after an emergency return from Bali was rejecte...

In this week's episode of Financial Services Online's Insurance News Wrap, Paige Estritori discusses crucial industry developments. Firstly, she unveils the misfortune of a Melbourne couple who returned from Bali due to a medical emergency, only to discover their single-trip policy with Tokio Marine & Nichido Fire Insurance had ended, emphasizing the importance of understanding insurance details....

In this episode of the Weekly Insurance News Wrap, Paige Estritori highlights the importance of thoroughly checking travel insurance details, following a Melbourne couple's denied claim due to miscommunication about their coverage. In uplifting news, MetLife Australia is expanding its inclusive leave policies for menopause, fertility issues, and gender affirmation, and aims to extend its paid pare...