Fri, 19th Apr 2024

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 market recovery are noted, with more insurers being attracted to the market and three consecutive quarters of new business growth. It's also discussed how London cyber insurer, CFC, strengthens its Australian presence by acquiring Melbourne-based Solution Underwriting. Lastly, the episode talks about the push for stamp duty reforms in the light of Queensland's upcoming state election, with the Australian Consumers Insurance Lobby proposing possible solutions to modernize the outdated system and alleviate high insurance costs.