Thu, 29th Feb 2024

This week's Insurance News Wrap includes the victory of a small northern NSW butcher over QBE Insurance following a dispute over stock spoilage during the Northern Rivers floods. Regulatory changes have led to a 36% fall in life insurance coverage through super funds, resulting in fewer Australians having this safeguard and a loss of A$655 million in death benefit claims in the last fiscal year. A ruling against Medibank's efforts to halt a probe into a significant data breach reiterated the importance of privacy. Lastly, icare's overhaul of its workers' compensation scheme in NSW introduces a transparent, choice-driven system where businesses select their claims service providers from a pre-approved list, an improvement from the 2017 criticized system.n