Fri, 17th May 2024

In this episode, Financial Services Online covers news from Australia impacting insurance, finance, superannuation, and money management. A landmark court ruling bestows a former caretaker a substantial compensation of $1.2M for PTSD due to a fatal incident at work, likely affecting workplace safety norms around mental health. Changes in policy and adviser shortage show a minor increase in risk premiums but a sharper rise in new disability income business, whereas group insurance experiences a dip due to the Protecting Your Super regulations. Australia's escalating housing issue, propelled by population growth, material shortage, and labor constraints might lead to a housing supply crisis. Lastly, criticisms come to light as insurers handle the aftermath of the 2022 Melbourne floods inaccurately, with concerns about the future insurability of homes in disaster-prone areas.