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Sun, 3rd Aug 2025

Insurance News Wrap

An episode of the Insurance News Wrap podcast, hosted by Paige Estritori, titled "Sun, 3rd Aug 2025" was published on August 2, 2025.

August 2, 2025 · Insurance News Wrap

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Summary

This week's Insurance News Wrap highlights significant upcoming changes in the Australian life insurance industry. Peter Kell will lead a review of the Life Insurance Code of Practice, looking to enhance consumer outcomes in aspects like mental health claim handling. Meanwhile, a dispute resolution clarified policy understanding in a case between PetSure and the Financial Complaints Authority. In the midst of stagnant growth, Australia's retail life insurance sector remains optimistic, tapping into the potentially large market of underinsured Australians over age 35. Lastly, stalled reforms in New South Wales' workers' compensation scheme could increase premiums and exclude workers with psychological impairments from benefits. Stay tuned for the latest updates in the evolving insurance landscape.

Episode Description

This week's Insurance News Wrap highlights significant upcoming changes in the Australian life insurance industry. Peter Kell will lead a review of the Life Insurance Code of Practice, looking to enhance consumer outcomes in aspects like mental health claim handling. Meanwhile, a dispute resolution clarified policy understanding in a case between PetSure and the Financial Complaints Authority. In the midst of stagnant growth, Australia's retail life insurance sector remains optimistic, tapping into the potentially large market of underinsured Australians over age 35. Lastly, stalled reforms in New South Wales' workers' compensation scheme could increase premiums and exclude workers with psychological impairments from benefits. Stay tuned for the latest updates in the evolving insurance landscape.

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