Thu, 24th Jul 2025

In this episode of the "Weekly Insurance News Wrap," host Paige Estritori discusses major topics in personal and business insurance. In New South Wales, a workers' compensation scheme reveals underinsurance problems, with $60 million in premiums uncollected due to employer non-compliance. As a result, stricter measures are being introduced. A case involving RAC Insurance and the Australian Financial Complaints Authority (AFCA) underscored the importance of careful policy review. In tech news, Microsoft experiences a significant breach in its SharePoint collaboration software, urging clients to enhance their security. Lastly, AFCA rules against TAL, a life insurer, for ceasing income protection payments without notifying the policyholder, emphasizing the necessity of transparent communication in insurance practices. These issues highlight the importance of vigilance both in policy review and system security, as well as fair communication practices within the industry.n