Sun, 22nd Sep 2024
from Insurance News Wrap Hosted by Paige Estritori
In this week's insurance update, the Australian Securities and Investments Commission has urged insurance and financial product providers to improve distribution practices, following serious compliance issues. Additionally, a proposal by the federal government to ban genetic test results in life insurance underwriting has received widespread endorsement as a step towards preventing genetic discrimination. In home insurance news, increasing premiums due to climate change risks are becoming a heavy burden for many households, indicating a need for policy reform and awareness. Meanwhile, Swiss Re has reported a significant rise in net income, surpassing expectations. The episode concludes by stressing the importance of staying informed about the insurance industry.
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