Tue, 10th Jun 2025

This episode of the Weekly Insurance News Wrap features an extensive discussion on recent developments in the Australian insurance market. AFCA ruled in favor of a camper trailer owner against RAA Insurance, criticizing the insufficient evidence supporting vehicle damage claim denial. The Australian financial regulators, ASIC and APRA, urged insurance companies for clear communication regarding possible premium increases in life insurance policies. Additionally, the importance of updating insurance policies was emphasized through a story of a father and his new-driver son who faced unclaimed damages due to policy exclusion. Lastly, the increasing accessibility issues with insurance due to rising premiums were discussed, with suggestions for public insurance schemes and disaster resilience funding. The global impact of climate change on disasters and insurance was also mentioned.