Fri, 7th Jun 2024

On June 7th, Paige Estritori discusses key developments in the insurance world. Key topics include the 4% increase in worker's compensation premiums by WorkCover Queensland, intended to avoid sudden dramatic leaps and maintain the state's competitive edge. This follows a different route compared to NSW's sharp 8% increase. The program also touched on the NSW Supreme Court's decision to freeze Haneen Asfour's bank accounts due to fraud allegations connected to sham medical invoices. A shift in focus to IAG uncovers allegations around deceptive loyalty discounts, the subject of a Victorian Supreme Court class action that could impact over a million policyholders. Finally, the Australian Financial Complaints Authority criticised IAG's handling of a denied flood damage claim, ordering the insurance giant to compensate $5400 for non-financial losses. Visit financialservicesonline.com.au for more insurance news and services.n