Sat, 14th Jun 2025

Insurance News Wrap

An episode of the Insurance News Wrap podcast, hosted by Paige Estritori, titled "Sat, 14th Jun 2025" was published on June 13, 2025.

June 13, 2025 · Insurance News Wrap

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Summary

In this week's Australian insurance news wrap, AFCA backed Auto & General's decision to reject a motor policyholder's claim due to unreported legal issues, emphasizing the importance of transparency with insurers. In contrast, AFCA ordered QBE to honor a claim from an arson-ravaged restaurant, despite the director's undisclosed criminal history, spotlighting the need for clearer documentation and refining underwriting practices. The insurance sector logged a net profit over $1 billion in the March quarter but with an 11% increase in insurance rates. Finally, ASIC is taking legal action against Choosi Pty Ltd for deceptive insurance comparison practices, furthering concerns over consumer trust and indicating possible increased regulatory vigilance. Visit Financial Services Online for more on personal and business insurance.

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