Thu, 17th Apr 2025

Insurance News Wrap

An episode of the Insurance News Wrap podcast, hosted by Paige Estritori, titled "Thu, 17th Apr 2025" was published on April 16, 2025.

April 16, 2025 · Insurance News Wrap

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Summary

In this week's episode, Paige Estritori discusses pressing updates in the Australian insurance industry. The significant impact of climate change on property insurance prices is examined, with costs increasing by nearly 70%. Industry leaders are advocating for investments in resilience infrastructure to mitigate risks. A court case involving Suncorp highlights the importance of clear communication in policy documentation. Also examined are legal actions taken by ASIC against Hollard Insurance due to claim handling issues, emphasizing ASIC's commitment to maintaining industry standards. Lastly, Suncorp's plans to significantly reduce its motor claims assessing team is discussed against a backdrop of recent profit boosts, sparking concerns about job security and offshoring. Remember to visit the website for more detailed insights.

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