Fri, 30th May 2025

Insurance News Wrap

An episode of the Insurance News Wrap podcast, hosted by Paige Estritori, titled "Fri, 30th May 2025" was published on May 29, 2025.

May 29, 2025 · Insurance News Wrap

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Summary

In this episode, Paige Estritori from Financial Services Online discusses notable updates in the Australian insurance sector. These include a decision from the Australian Financial Complaints Authority against Eric Insurance for an unfairly sold GAP policy, resulting in a refund order. In response to recent flooding in New South Wales, insurance company Acenda provides premium payment relief as well as counselling and health resources, emphasizing the need for robust risk management strategies. Cybersecurity firm QBE is enhancing its initiatives and investing in their QCyberProtect policy to provide adaptive risk management amid rising threats. Recent data from the NobleOak Life Insurance Pulse Report shows an increase in life insurance coverage, despite limited understanding of policies, emphasizing the need for comprehensive consumer education.

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