Tue, 26th Mar 2024

This week's insurance news wrap from Financial Services Online includes updates on policy changes, broker challenges, and progress in environmental finance. A federal court sided with Auto & General's clause requiring policyholders to inform of significant coverage changes, a decision seen as a win for risk management. Broker surveys reveal challenges with compliance and administration taking up to three hours daily, impacting customer service. Technological improvements and simplified processes may help address this. CFC introduced a novel Carbon Delivery Insurance to reduce non-delivery risk in the booming carbon credit market, an innovation received positively. Finally, strata firm Netstrata led in transparency efforts by initiating a review of its high brokerage fees in cooperation with NSW Fair Trading.n