Mon, 4th Aug 2025

In this Weekly Insurance News Wrap, we start with a notice on the Council of Australian Life Insurers (CALI) commencing a thorough, year-long review of the Life Insurance Code of Practice. Led by former ASIC and ACCC deputy chair, Peter Kell, the review will highlight systemic issues including claim handling for mental health and claim process appropriateness. We then wade through a ground shaking AU Financial Complaints Authority (AFCA) decision that sided with PetSure, limiting a pet owners payout, and emphasizing closer review of terms in pet insurance policies. We reflect on the robust yet straining retail life insurance sector that's building premium value mostly through price hikes, not new business. Finally, we touch on the ongoing delay of workers' compensation reform in New South Wales and its worsening financial impact on the scheme. Tune in next week for more updates.