Wed, 21st May 2025

Insurance News Wrap

An episode of the Insurance News Wrap podcast, hosted by Paige Estritori, titled "Wed, 21st May 2025" was published on May 20, 2025.

May 20, 2025 · Insurance News Wrap

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Summary

In this episode of Financial Services Online's Weekly Insurance News Wrap, host Paige Estritori shares three significant insurance industry stories from Australia. An important Australian Financial Complaints Authority (AFCA) ruling on a contested case of a stolen car highlighted the importance of concrete proof for insurance fraud accusations. The insurer, Auto and General Services, must now honor their claim due to lack of evidence. Up next, Westpac's investment platform, Asgard, announced increases in insurance premiums from 0.7% to 94.6% due to rising operational costs, taking effect from the 1st of July. Lastly, having exited from the wealth management sector, ClearView transformed into a pure-play life insurance company with plans of increasing ties with independent financial advisors, and saw lucrative growth in premium incomes. The company also unveiled a new cloud-based platform for streamlining operations.n

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