Sun, 8th Dec 2024

This week's Insurance News Wrap shared urgent findings on the rising mental health claims among 30-40 year-olds, citing a 732% surge in Total and Permanent Disability claims. Alarmingly, mental health issues were the primary reason with men 59% more likely to leave work due to these concerns. Insurance fraud allegations were also reported in Western Australia, as a bakery owner stands accused of arson to exploit insurance benefits. In a pivotal legal case relevant to the transport industry, Hollard Insurance successfully applied a policy exclusion over denied heat damage claims, emphasizing the importance of temperature control in storage. Lastly, as cost of living pressures mount, Australians are increasingly skimping on life insurance, prompting sector calls for accessible and affordable financial advice.