Thu, 16th May 2024

In this new episode of Financial Services Online's podcast, Paige Estritori discusses the latest Australian insurance news. The episode highlights complaints from Melbourne residents unhappily encountering delays, mismanagement and poor communication from insurance companies during the federal inquiry hearing into their responses to the 2022 floods. The episode also flows into news about Allianz's updated approach to their flood insurance coverage. The insurer will now automatically include flood coverage in home, contents, and landlord insurance products for new customers in moderate or low-risk areas later this year. Lastly, the podcast closes with a story from abroad where an Australian tourist won a dispute with Lloyd's Insurance over a costly air ambulance claim. The AFCA ruled in favor of the tourist, underscoring the importance of health and necessary care over cost-saving arguments.