Mon, 17th Feb 2025

Insurance News Wrap

An episode of the Insurance News Wrap podcast, hosted by Paige Estritori, titled "Mon, 17th Feb 2025" was published on February 16, 2025.

February 16, 2025 · Insurance News Wrap

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Summary

The podcast covers recent developments in the insurance industry. There is ongoing debate concerning risk commission caps in the sector, with key figures advocating for a review of the current Life Insurance Framework. According to a recent poll, a slim majority supports an 80/20 commission structure or keeping the current cap. Meanwhile, businesses globally have seen a reduction in commercial insurance rates, with an 8% decrease in the Australia-Pacific region. However, DBD Developments has been fined for starting a project without secure mandatory Home Indemnity Insurance, emphasizing the importance of legislation adherence for consumer protection. Lastly, ISS Property Services is under scrutiny after discrepancies were found in their workers' compensation self-insurance system, leading to mandated remediation plans and tighter compliance conditions.n

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