Thu, 20th Jun 2024

This week's Financial Services Online podcast, hosted by Paige Estritori focuses on important updates in the financial industry. Firstly, the Victorian Managed Insurance Authority (VMIA) has raised builder warranty insurance premiums due to influences like builder insolvencies, inflation and skilled worker shortages. This decision has been met with opposition from the Housing Industry Association. The discussion then pivots to mental health in the workplace, as Allianz reports a significant increase in psychological claims and absenteeism since 2019. The high cost of these mental health claims emphasizes the need for focused mental health strategies in workplaces. Lastly, the Council of Australian Life Insurers (CALI) expresses its commitment to improved customer service by strengthening collaboration with financial advisors, within consumer protection regulations. Despite the varying nature of these discussions, they share a common emphasis on the need for critical updates and reforms within the industry.n