Fri, 30th Aug 2024

In this week's Financial Services Online podcast, Paige Estritori discusses noteworthy updates in the Australian insurance industry. The Australian Prudential Regulation Authority reports promising increases in industry profits in the March quarter. Losses in short-term household insurance have notably decreased, with a similar trend seen in claim numbers. The boosting profits are also reflected in the domestic and commercial motor insurance sectors. In South Australia, RAA Insurance capitalizes on these gains by enhancing operations. Meanwhile, fraudulent activities experienced in the UK's insurance sector underscore the need for continual vigilance. Elsewhere, new guidelines have been developed to assist auto repair businesses in managing non-genuine parts requests from insurers. Lastly, the Council of Australian Life Insurers introduces a program, ReCALIbrate, aimed at promoting gender inclusivity within the financial sector.n