Sat, 13th Jul 2024

Insurance News Wrap

An episode of the Insurance News Wrap podcast, hosted by Paige Estritori, titled "Sat, 13th Jul 2024" was published on July 12, 2024.

July 12, 2024 · Insurance News Wrap

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Summary

In this episode of the Weekly Insurance News Wrap: a proposition for insurance companies to allocate 1% of home insurance premiums towards a resilience fund. This potentially yields a hundred million dollars annually, offering relief to those finding insurance unaffording due to property issues. The episode also highlights an intriguing story about a denied homeowners compensation claim due to the discovery of a decommissioned well, underscoring the necessity for specific definition in insurance claims. Finally, financial advisers face potential cost impact owing to ASIC's increase in levies for 2023-24 due to stringent compliance measures, further emphasizing the fight against unlicensed advice and consumer protection.

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