Sun, 3rd Mar 2024 - Insurance News Wrap

What this episode covers

In this episode of the Weekly Insurance News Wrap, Financial Services Online delves into top stories impacting the insurance sector. A landmark case involving the Australian Financial Complaints Authority saw a rural homeowner awarded $42,000 and an additional $2,000 compensation for emotional distress after a disputed roof repair job. In corporate news, ClearView Wealth, focusing solely on life insurance, saw a 32% increase in underwriting profits, expecting a rise to $400 million within three years due to innovative technology. The ASFA cautions against proposals allowing death benefits to directly go to charities, citing possible operational and legal issues. Lastly, the Victorian Supreme Court capped legal fees at 30% for the class action against Insurance Australia Group, setting a precedent for fair compensation in relation to alleged policy misrepresentation on COVID-19 claims.n

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Frequently Asked Questions

How long is this episode of Insurance News Wrap?

This episode is 2 minutes long.

When was this Insurance News Wrap episode published?

This episode was published on March 2, 2024.

What is this episode about?

In this episode of the Weekly Insurance News Wrap, Financial Services Online delves into top stories impacting the insurance sector. A landmark case involving the Australian Financial Complaints Authority saw a rural homeowner awarded $42,000 and an...

Can I download this Insurance News Wrap episode?

Yes, you can download this episode by clicking the download button on the episode player, or subscribe to the podcast in your preferred podcast app for automatic downloads.