Wed, 18th Dec 2024

In this week's episode of Financial Services Online's 'Weekly Insurance News Wrap', Paige Estritori discusses a report from underwriting agency, Sure, revealing insurance coverage shortfall in cyclone-prone regions of Australia, particularly Cairns, Townsville, and Mackay. With severe cyclones forecasted, homeowners are urged to reassess their insurance policies. National news also revealed a surge in term life insurance consumer complaints last financial year, as reported by the Australian Securities and Investments Commission (ASIC). ASIC aims to utilize this data towards improving dispute resolution and consumer protection. Lastly, the podcast covers a unique car theft case, underscoring the importance of understanding the distinction between negligence and unexpected circumstances in policy terms. The case reinforces the importance of being thoroughly acquainted with your insurance policy's terms and conditions.n