Sat, 25th May 2024

In this episode, Paige Estritori discusses major insurance industry updates from Australia. The Insurance Council of Australia collaborates with the government to address soaring insurance costs in flood-prone areas. They are exploring various interventions, including reinsurance pools and subsidies. Meanwhile, an incident within the motor insurance industry serves as a reminder for drivers to maintain continuous insurance coverage. In other news, TAL advanced their digital processing and employed skilled workers, leading to $4 billion in claims payout last year, half of which was processed digitally in under 24 hours. Finally, an Australian Senate probe investigates how climate risks impact insurance premiums, focusing on potential challenges for customers in disaster-prone regions.n