Fri, 12th Apr 2024

Insurance News Wrap

An episode of the Insurance News Wrap podcast, hosted by Paige Estritori, titled "Fri, 12th Apr 2024" was published on April 11, 2024 and runs 2 minutes.

April 11, 2024 ·2m · Insurance News Wrap

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Summary

In this weekly installment of Financial Services Online's insurance news wrap-up dated April 12th, 2024, host Paige Estritori discusses top stories shaping the industry. The podcast delves into a federal inquiry in Queensland investigating insurance claim procedures after devastating floods in 2022 and troublesome insurance practices. A spotlight on Australia's increased vulnerability to severe weather events, caused by climate change, triggers warnings of financial turmoil, fueling calls for adaptation and resilience. The episode also covers a concerning rise of 9% in code breaches within the financial sector noted in the Annual Industry Data and Compliance Report, with an 18% swell in claims handling violations. Finally, the podcast highlights a case where QBE Insurance is ordered to pay substantial compensation after delays in repairing a fire-damaged bed and breakfast in Tasmania, demonstrating the very real emotional toll of slow claim processes.

Episode Description

In this weekly installment of Financial Services Online's insurance news wrap-up dated April 12th, 2024, host Paige Estritori discusses top stories shaping the industry. The podcast delves into a federal inquiry in Queensland investigating insurance claim procedures after devastating floods in 2022 and troublesome insurance practices. A spotlight on Australia's increased vulnerability to severe weather events, caused by climate change, triggers warnings of financial turmoil, fueling calls for adaptation and resilience. The episode also covers a concerning rise of 9% in code breaches within the financial sector noted in the Annual Industry Data and Compliance Report, with an 18% swell in claims handling violations. Finally, the podcast highlights a case where QBE Insurance is ordered to pay substantial compensation after delays in repairing a fire-damaged bed and breakfast in Tasmania, demonstrating the very real emotional toll of slow claim processes.

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