Wed, 25th Sep 2024

This episode of the Weekly Insurance News Wrap discusses recent updates from the insurance industry. Highlights begin with the Federal Court's decision to dismiss class actions related to the COVID-19 business interruption claims against four major insurers, implying policyholders will have to file claims individually. The appeal period is still ongoing. Further, AAMI's Decade of Driving Report has provided insights on accident patterns. Tower has increased its catastrophe reinsurance coverage capacity aiming to enhance resilience against large-scale events. Meanwhile, American bond insurer, Build America Mutual (BAM), is expanding into Melbourne to primarily cover critical infrastructure projects. Its entry is geared towards making infrastructure more affordable by attracting investments and decreasing costs. Listeners are urged to stay updated on their rights and urged to continue visiting financialservicesonline.com.au for additional insights and support.n