Mon, 8th Apr 2024

In this episode, Paige Estritori from Financial Services Online shares significant news from the insurance industry. The State Insurance Regulatory Authority (SIRA) has put nine construction companies on notice for operating without mandatory home building compensation insurance in New South Wales. In travel insurance news, a Melbourne couple's claim after an emergency return from Bali was rejected due to misunderstanding their policy's coverage. Employee welfare sees MetLife Australia introducing inclusive leave policies, addressing needs such as menopause, fertility issues, and gender affirmation, whilst also increasing paid parental leave. Industry expert, John Trowbridge advocates for total replacement coverage to address Australia's underinsurance problem, set in relief by disasters like the 2022 floods, though this might lead to a rise in premiums. The goal is to offer homeowners much-needed security. Stay tuned for continuing updates from the financial sector.