Tue, 21st Jan 2025

In this episode of the Weekly Insurance News Wrap, Paige Estritori discusses recent weather events in New South Wales and the Australian Capital Territory, where catastrophic storms have led to over 11,000 insurance claims, and power outages have affected over 143,000 homes. Insurance companies like Suncorp and Allianz have seen a surge in claims, highlighting the need for preparedness and efficient response. There's also a brief on a legal matter, where insurance broker Jason Prasad was found guilty of selling fraudulent builders warranty insurance. Lastly, Paige touches on the ongoing wildfires in Los Angeles which could potentially lead to the costliest wildfire disaster worldwide. Overall, the episode stresses on the necessity for comprehensive planning in face of severe weather events and regulatory vigilance in the insurance sector.n