Thu, 2nd May 2024

Insurance News Wrap

An episode of the Insurance News Wrap podcast, hosted by Paige Estritori, titled "Thu, 2nd May 2024" was published on May 1, 2024 and runs 3 minutes.

May 1, 2024 ·3m · Insurance News Wrap

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Summary

In this podcast, Paige Estritori of Financial Services Online brings the latest news from Australia's insurance industry. The episode emphasizes the importance of transparency after an insurance claim was denied due to undisclosed criminal conviction. Further discussed is the need for changes to cyclone insurance subsidies by the Australian Consumers Insurance Lobby, with the aim to extend post-cyclone coverage, reduce high premiums for $20M+ properties, and more. Committees are currently discussing these proposed changes. Lastly, the podcast talks about challenges faced by Victorian residents post the 2022 floods. Issues of slow insurance processes and material shortages are highlighted, with a stronger call for improvement by insurers. More details will be provided in a comprehensive report due in July. The podcast rounds off reminding listeners to stay informed and insured.n

Episode Description

In this podcast, Paige Estritori of Financial Services Online brings the latest news from Australia's insurance industry. The episode emphasizes the importance of transparency after an insurance claim was denied due to undisclosed criminal conviction. Further discussed is the need for changes to cyclone insurance subsidies by the Australian Consumers Insurance Lobby, with the aim to extend post-cyclone coverage, reduce high premiums for $20M+ properties, and more. Committees are currently discussing these proposed changes. Lastly, the podcast talks about challenges faced by Victorian residents post the 2022 floods. Issues of slow insurance processes and material shortages are highlighted, with a stronger call for improvement by insurers. More details will be provided in a comprehensive report due in July. The podcast rounds off reminding listeners to stay informed and insured.n

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