Sun, 3rd Mar 2024

In this episode of the Daily Financial Services News Wrap, we discuss a variety of financial happenings. We start with a landmark customer advocacy case where an Australian home insurance company was directed by the Australian Financial Complaints Authority to pay $40,000 for damages and additional $2000 for distress to a rural homeowner. Next, we explore the unexpected surge in mortgage commitments to investors, showing a 20% increase. Additionally, we discuss the potential long-term costs of the early superannuation withdrawal policy triggered during the COVID pandemic. Lastly, we shine a light on ClearView Wealth's increased underwriting profits and market share after shifting focus solely to life insurance. For more detailed coverage on these financial stories, please visit our website.