Wed, 25th Sep 2024

In the Daily Financial Services News Wrap, Paige Estritori covers a mix of matters concerning the Australian financial industry. An alarming blind spot in Australians' retirement plans is discussed, revealing that only one in ten Australians monitors their superannuation funds. Due to gender disparity, men are more likely to monitor their funds. The Australian Taxation Office reports $17.8 billion in lost and unclaimed superannuation money. In other news, policyholders against four insurers regarding COVID business interruption claims must now file individual claims, no longer class actions. An extensive AAMI report details crash trends in Australia and emphasizes the need for safe driving education. Lastly, Tower boosts its catastrophe reinsurance coverage by partnering with global reinsurance parties, thereby enhancing their resilience against large-scale events and paving the way for strategic growth.