Wed, 29th Apr 2026

In this episode, Financial Services Online discusses recent developments affecting the Australian insurance sector. Rising premiums due to the increased claims costs from weather events like Ex-Tropical Cyclone Alfred have been denting insurers' profit margin and posing affordability problems for self-employed professionals, especially personal trainers. The podcast suggests ways to mitigate these challenges. Additionally, results of a survey by Gallagher Bassett indicate 22% respondents are facing premium affordability issues, forcing insurers to revise their strategies. Integration of data analytics and advanced technology is also highlighted for streamlining processes. Lastly, the passage of a new law prohibiting the use of genetic test results in life insurance underwriting brings a revolution in the sector, ensuring consumer privacy and changing risk assessment methods. The podcast encourages its listeners to stay informed and proactive in these changing times.