Tue, 30th Apr 2024

Insurance News Wrap

An episode of the Insurance News Wrap podcast, hosted by Paige Estritori, titled "Tue, 30th Apr 2024" was published on April 29, 2024 and runs 2 minutes.

April 29, 2024 ·2m · Insurance News Wrap

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Summary

In this podcast episode, Paige Estritori of Financial Services Online dives into the latest developments in the Australian insurance sector. Major topics include the shortcomings of insurance responses to the 2022 flood-affected Victorian communities, as revealed by a Legislative Assembly inquiry. The situation emphasizes on setting defined response times to help quick recovery of affected communities. Next, she highlights a story about a claim on a classic 1970s Mercedes-Benz 280e, rejected by AFCA, causing a stir among vintage car owners regarding their home insurance policies. Lastly, the insurance industry's improved handling of post-flood claims gets a mention, though the growing trend of self-insurance among small businesses raises concerns. The podcast concludes anticipating a complete report of ongoing insurance practice evaluations in Queensland and Tasmania by September 30, 2024.

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