Wed, 11th Feb 2026

In this episode of Financial Services Online's Weekly Insurance News Wrap, Paige Estritori covers major occurrences in the Australian insurance industry. Strategic developments include a significant fine of 16.8 million dollars imposed on Allianz Australia and its subsidiary, AWP Australia, for misleading practices in travel insurance products. There's also a discussion on the rising insurance premiums due to extreme weather events, increasing rebuilding costs, and limited competition among insurers – contributing to challenges particularly for the construction sector. A ray of optimism emerges through Insurance Australia Group's partnership with insurtech company, Codafication, aimed at streamlining property claims management and enhancing customer experience. The episode serves as a reminder for consumers to regularly review polices and highlights shifts in the industry.