Sat, 16th Mar 2024

This week on Financial Services Online's 'Weekly Insurance News,' Paige Estritori details significant developments in the insurance sector. The New South Wales Government is calculating a restructure of emergency services funding in response to climate change-related costs, with input from public and anonymous insurance data. The House of Representatives Committee on Economics advances its inquiry into insurance post-2022 floods, inviting public submissions. There's mention of a recent dispute where a vehicle owner won against Suncorp after the insurer initially denied a claim over a drug-induced accident. Finally, a PwC survey reveals cybersecurity holds the top concern for Australian insurers, followed by regulatory and climate change issues. It stresses the need for the industry to offer affordable coverage amidst economic strain and tackle the growing implications of climate events. For more details, listeners are encouraged to visit the broadcaster's website.n