Fri, 16th Aug 2024

In this week's Financial Services Online podcast, Paige Estritori discusses key insurance issues from a former rugby player's unsuccessful $1 million claim over a game injury to a homeowner's victory against Allianz over a fire damage claim, illustrating the complex interactions between litigation, medicine and insurance. Concerns related to climate risk were highlighted at a Senate inquiry, particularly about inconsistencies in levee designs that may affect insurance rates and disaster readiness. Suncorp's scientist pointed to the need for better risk assessments as historical data becomes less reliable due to climate change. Additionally, potential stability in home insurance rates was discussed, linked to falling inflationary pressures in FY25, though overall pricing remains a complex issue. The podcast ends with a look at the broader industry debate on the relationship between climate risk and financial resilience in the insurance sector.n