Tue, 28th May 2024

In this episode of Financial Services Online's Weekly Insurance News Wrap, Paige Estritori delves into significant industry updates. Major concerns arise as the Insurance Brokers Association of New Zealand warns about the forthcoming amendments to emergency services funding, which may drastically raise commercial property costs. The potential introduction of typically exempt assets to Fire and Emergency New Zealand services, such as search and rescue helicopters, is also discussed. In contrast, efforts from the Insurance Council of Australia and a new government taskforce to offset rising insurance costs are highlighted, with a particular focus on flood-prone areas. The episode concludes with the critical reminder for motorists that insurance policies do not retroactively cover incidents. For all things insurance, visit financialservicesonline.com.au. Stay safe, Australia.