Fri, 31st Oct 2025

Insurance News Wrap

An episode of the Insurance News Wrap podcast, hosted by Paige Estritori, titled "Fri, 31st Oct 2025" was published on October 30, 2025.

October 30, 2025 · Insurance News Wrap

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Summary

This week's Insurance News wrap-up features several key happenings. A ruling by the Australian Financial Complaints Authority (AFCA) involving QBE Insurance and a restaurant owner over an undisclosed criminal record has underscored the need for clear communication between insurers and policyholders, setting the pace for possible industry-wide change. Despite solid profit gains, Insurance Australia Group's CEO, Nick Hawkins, warns of inevitable insurance premium increases due to rising climate change threats. The controversial insurance brokerage fee practices of Australian strata management firm Netstrata is causing industry-wide concern, pointing to the necessity for transparency and thorough inspection of insurance arrangements. In related news, fears arise over potential reforms, especially the abolition of insurance commissions in the strata management sector. Despite the NSW Government's consideration to remove commissions, a survey indicates a majority of strata owners oppose changes impacting management fees.n

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