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Tue, 6th Aug 2024

Insurance News Wrap

An episode of the Insurance News Wrap podcast, hosted by Paige Estritori, titled "Tue, 6th Aug 2024" was published on August 5, 2024.

August 5, 2024 · Insurance News Wrap

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Summary

In this week's Financial Services Online podcast, host Paige Estritori covers diverse insurance topics affecting Australia. The episode begins with controversy surrounding Hollard Insurance's refusal to increase fire damage compensation, leading to an important reminder about the risks of underinsuring properties. The talk then shifts to professionalization within Australia's trade industry, noting improvements in worker safety and morale. Next, the focus lands on how pre-existing faults have slammed the door on earthquake damage claims, emphasizing the importance of robust property maintenance. Lastly, Suncorp Group's increased reinsurance protection limit and their anticipated financial moves shed light on the state of the global reinsurance industry adjusting to consumer needs.

Episode Description

In this week's Financial Services Online podcast, host Paige Estritori covers diverse insurance topics affecting Australia. The episode begins with controversy surrounding Hollard Insurance's refusal to increase fire damage compensation, leading to an important reminder about the risks of underinsuring properties. The talk then shifts to professionalization within Australia's trade industry, noting improvements in worker safety and morale. Next, the focus lands on how pre-existing faults have slammed the door on earthquake damage claims, emphasizing the importance of robust property maintenance. Lastly, Suncorp Group's increased reinsurance protection limit and their anticipated financial moves shed light on the state of the global reinsurance industry adjusting to consumer needs.

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