Thu, 19th Sep 2024

Insurance News Wrap

An episode of the Insurance News Wrap podcast, hosted by Paige Estritori, titled "Thu, 19th Sep 2024" was published on September 18, 2024.

September 18, 2024 · Insurance News Wrap

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Summary

In the recent episode of Financial Services Online's "Weekly Insurance News Wrap", Paige Estritori covers key insurance industry news as of September 19, 2024. A landmark federal government decision bans considering genetic test outcomes in life insurance underwriting, marking significant progress against genetic discrimination. However, the Actuaries Institute notes a concerning trend of rising home insurance premiums in Australia, driven primarily by climate change. Over 1.6 million families see a 30% increase within a year, raising concerns as costs outpace wage growth. Meanwhile, Swiss Re highlights a positive note, reporting $2.1bn net income in 1H 2024, exceeding expectations due to a downturn in catastrophe claims and robust investment returns. The episode concludes emphasizing the importance of personal and business insurance awareness.

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