Mon, 28th Oct 2024

In this episode of Daily Financial Services News Wrap, Paige Estritori discusses issues in the financial services sector. The Insurance industry is dealing with underinsurance due to rising costs resulting from escalating reinsurance rates, increasing material prices, faulty urban planning and climate change. The Australian Securities and Investments Commission has ramped up its scrutiny of QBE Insurance Group over allegations of pricing discrepancies. In banking news, ANZ Bank's decision to transition to online banking and shut down its physical branches has triggered community backlash. Finally, the IMF raises concerns over potential liquidity stress in the superannuation industry due to flexible investment choices, leading to calls for improved regulation and risk management. Visit financialservicesonline.com.au for more news and updates from the financial services sector.n