Fri, 15th Mar 2024

Insurance News Wrap

An episode of the Insurance News Wrap podcast, hosted by Paige Estritori, titled "Fri, 15th Mar 2024" was published on March 14, 2024 and runs 2 minutes.

March 14, 2024 ·2m · Insurance News Wrap

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Summary

This episode of Insurance News Wrap provides critical updates on the Australian insurance industry, highlighting a landmark case of a vehicle owner succeeding against Suncorp in a disputed claim, with the Australian Financial Complaints Authority ruling the incident as theft. The episode also discusses the rising concern of cybercrime in the industry, encouraging innovation for cost-effective coverage amidst increasing concerns like climate change, economic fluctuations, and a spike in premiums. Drug influence related insurance policies receive attention as well through an Allianz Australia case. Lastly, the Insurance Council of Australia reveals a rise in insured losses up to $1.2 billion due to recent catastrophic weather events, with average claim from Cyclone Jasper significantly higher, underlining the enormity of financial implications associated with such calamities.

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