Wed, 29th Jan 2025

This episode of the Weekly Insurance News Wrap covers updates from the insurance industry for Wednesday, January 29th, 2025. The Australian Capital Territory launches an inquiry into rising insurance costs affecting businesses and community organisations, investigating aspects like workers' compensation and climate change's impacts on the industry. The Canberra Business Chamber points out increasing insurance premiums as a significant issue. Auto & General Insurance faces reprimanding over mismanagement of a storm damage claim, enforced by the Australian Financial Complaints Authority. The firm has been instructed to apologize and compensate the affected homeowner. Lastly, a travel insurance dispute centered around a pre-existing condition clause emphasises the importance of understanding policy exclusions when buying insurance.