Mon, 9th Sep 2024

This podcast brought to you by Financial Services Online covers significant developments in Australia's insurance industry. A passenger was denied an insurance claim by Lloyd's Australia due to the flight crew exceeding work hours, leading the Australian Financial Complaints Authority (AFCA) to grant the passenger $2000 based on policy clause relating to extended delays. In another AFCA-related case, Allianz's decision to reduce a car insurance payout was upheld due to a client's inaccurate description of their Range Rover. Personnel changes at Zurich Financial Services Australia sees David Wainwright becoming the new Chief Risk Officer. Lastly, a critical illness claim was denied due to the policy's eligibility period ending days before a breast cancer diagnosis. The podcast ends with a reminder about the importance of accuracy and adherence to policy terms in insurance claims for ensuring financial security.