Sat, 26th Jul 2025

This week's podcast by Financial Services Online highlights critical updates from the Australian insurance industry. The importance of understanding the terms of travel insurance was showcased with an unjustified claim's rejection by AFCA. The ongoing issue with cyclone insurance affordability has brought to light potential solutions such as brokers adopting fee-based models. A homeowner was denied a storm damage claim due to poor maintenance and faulty construction, emphasizing the need of property upkeep. Finally, the New South Wales State Insurance Regulatory Authority is working on resolving issues like underinsurance and employer non-compliance within the icare Workers Compensation Scheme. Measures of recovery include substantial unpaid premiums and potential fines for non-compliant high-revenue employers.n