Sun, 31st Aug 2025

Insurance News Wrap

An episode of the Insurance News Wrap podcast, hosted by Paige Estritori, titled "Sun, 31st Aug 2025" was published on August 30, 2025.

August 30, 2025 · Insurance News Wrap

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Summary

In this episode of the Weekly Insurance News Wrap, Paige Estritori covers pressing insurance topics in Australia. Firstly, there's a significant increase in the premiums for group life insurance policies, with some insurers avoiding high-risk sectors. Despite these hikes, one insurer is reintroducing corporate life insurance beyond superannuation plans. The halt in National Construction Code updates by the Australian government has sparked concern for community safety and resilience, especially in light of natural disasters. In consumer news, RACQ Insurance was directed to increase payout on a house fire claim. Lastly, ASIC is closely scrutinizing the life insurance sector, highlighting problematic direct sales practices, especially due to aggressive sales tactics and a rise in claim disputes. The industry is expected to make significant changes for improved customer protection and satisfaction, amidst tightening regulations.

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