Mon, 5th May 2025

This week's podcast from Financial Services Online, presented by Paige Estritori, highlights numerous key insurance issues. Topics include an Australian Financial Complaints Authority (AFCA) decision denying a motor policyholder their engine theft claim under an IAG policy due to lack of ownership evidence and specific coverage provisions. Subsequently, the Australian Competition and Consumer Commission reaffirms its position against broker commissions. Further, AFCA directed Auto & General Services to partially cover a claim for long-term water damage, shifting focus to damage manifestation rather than the original leak. Lastly, the podcast discusses an AFCA ruling in a travel insurance case, underscoring the importance of understanding policy terms, particularly in non-traditional family structures. The podcast secured its commitment to making insurance more straightforward, transparent, and user-friendly.n