Mon, 25th Aug 2025

This week on the Weekly Insurance News Wrap, we discuss impactful rulings that shape the Australian insurance industry. Key updates include the Australian Financial Complaints Authority (AFCA) siding with Insurer IAG in a contentious case dealing with a $2000 policy excess, a pointer toward extra charges for high claim occurrences. AFCA also ruled on a disputed car insurance claim, a reminder to keep clear lines of communication in shared asset policies. The Australian Prudential Regulation Authority (APRA) is working to address home insurance affordability and conducting a climate vulnerability assessment for insurers, demonstrating their span of focus. Finally, the Australian Securities and Investments Commission (ASIC) is urging changes in life insurance sales and service, emphasizing customer-centric strategies and warning of potential investigations if improvements are not seen soon. For more information, tune in to next week's news wrap.