Thu, 3rd Apr 2025

In this episode of the Weekly Insurance News Wrap, Paige Estritori discusses industry developments amid the upcoming Australian federal election. The Insurance Council of Australia is pushing for extensive risk reduction measures, headlined by a $30bn flood protection fund, to combat an apparent disregard for such strategies in the recent federal budget. Significant legal news includes substantial fines for Allianz Australia and AWP Australia following misleading insurance claims, and a ruling in favor of property owners in a lift vandalism dispute against Chubb Insurance. The episode also highlights the New South Wales Government's efforts to curb claim farming via harsh penalties and a prohibition bill. These topical updates emphasise the need for increased resilience, transparency, and integrity within the Australian insurance sector.n