Tue, 24th Dec 2024

In this episode of the Weekly Insurance News Wrap, we cover key moves by the Insurance Council of Australia (ICA) in implementing 78 recommendations from recent flood inquiries, ensuring benefits for customers and fostering industry innovation. We highlight the mega-merger of MLC Life Insurance and Resolution Lifes Australasia subsidiaries which birth Acenda, pegged to be one of Australia's biggest life insurers, pending a next-year completion. Sure, a Queensland underwriting agency, brought attention to concerning insurance coverage gaps in cyclone-prone areas urging for a policy reassessment in response to increasing rebuild costs and cyclone risks. We remind listeners to stay informed and resilient, evaluating their coverage in light of forecasted severe cyclones due to warming oceans. Stay tuned to Financial Services Online for updates.