Mon, 26th May 2025

This week's episode of Weekly Insurance News Wrap discusses fresh data revealing a rise in life insurance coverage in Australia, a troubling knowledge gap surrounding fully underwritten policies, and various rulings by the Australian Financial Complaints Authority (AFCA). We delve into NobleOak's recent report noting an increase in life insurance uptake among 30 to 60-year-olds, up from 55% to 60% within a year, despite a limited understanding of fully underwritten policies. Noteworthy AFCA judgements include siding with homeowners in a dispute over storm-damaged solar systems, approving a temporary hold on a disputed car damage claim by QBE Insurance, and ruling in favor of a policyholder suspected of making a fraudulent claim. The episode underscores the importance of understanding insurance for financial security.n