Mon, 3rd Feb 2025

Insurance News Wrap

An episode of the Insurance News Wrap podcast, hosted by Paige Estritori, titled "Mon, 3rd Feb 2025" was published on February 2, 2025.

February 2, 2025 · Insurance News Wrap

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Summary

In this podcast, Paige Estritori of Financial Services Online discusses key developments impacting personal and business insurance sectors in Australia. The episode focuses on Australians' growing concerns about life insurance affordability due to increasing living costs, interest rates, and inflation, with a report by iExtend suggesting that nearly 25% may drop their policies if financial strain continues. Despite these challenges, iExtend assures its commitment to advising Australians on sound life insurance decisions. The podcast also explores an ongoing inquiry by the ACT's Legislative Assemblys Standing Committee investigating the high insurance costs affecting businesses and community organizations, particularly focusing on workers' compensation and the impacts of climate change. Lastly, the Canberra Business Chamber expresses concern over continuous insurance premium hikes affecting their members.

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