Wed, 6th Nov 2024

In this episode, Paige Estritori details key finance industry updates for November 6, 2024. Topics include a remarkable upsurge in non-advised disability income insurance (DII) claims with a high claims paid ratio despite sustainability concerns and high dispute frequency. The Australian Financial Complaints Authority's recent ruling backing RAC Insurance's denial of a fire claim filed by a homeowner with an arson history is also highlighted, emphasizing the need for robust evidence in fraud detection. The episode also discusses the ACCC's push for insurers to indicate previous year premiums on renewal notices to enhance cost transparency, amidst claims of price concealment in renewal premiums. Finally, superannuation expert Bernie Dean's appointment as the new Chief Strategy Officer at Cbus, after his successful tenure at Industry Super Australia, is announced.n