Sun, 16th Mar 2025

This episode of the Weekly Insurance News Wrap covers key updates in the insurance sector. The podcast discusses a report "Insurtech Down Under", revealing Australia and New Zealand host 293 insurtech firms that have generated $1.6 billion over 12 years. Despite regulatory hurdles, the sector is booming thanks to advancements in technology like AI and blockchain. In a regrettable incident, a company lost its insurance claim after clients transferred $66,148 to a fraudulent account due to hacked email system. The podcast also features Australia Underwriting, a domestic firm expert in high-risk coverage, focusing on its recent success with a national motorsports association. Finally, it shares a case by the Australian Financial Complaints Authority who ruled insurer Hollard to increase compensation for a homeowner over a persistent mould issue.