Thu, 28th Aug 2025

On this week's edition of Financial Services Onlines insurance news wrap, Paige Estritori discusses key updates from the Australian insurance sector. Topics include federal government's pause on National Construction Code updates causing tension in the insurance industry, with worries that a four-year deferment could negatively impact future building standards. The show also covers incidents such as the Australian Financial Complaints Authority (AFCA) directing RACQ Insurance to increase its settlement amount in response to a mishandled claim. Failures in life insurance sector marked by aggressive sales strategies and increased claims disputes were raised by the Australian Securities and Investments Commission. Lastly, AFCA ruled in favour of IAG in a property policy dispute urging for improved communication between consumers and insurers. These insights aim to make insurance more comprehensible and accessible to Australians.