Sat, 10th May 2025

Insurance News Wrap

An episode of the Insurance News Wrap podcast, hosted by Paige Estritori, titled "Sat, 10th May 2025" was published on May 9, 2025.

May 9, 2025 · Insurance News Wrap

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Summary

In this podcast, Paige Estritori discusses major issues in Australia's insurance industry on behalf of Financial Services Online. The Insurance Brokers Code Compliance Committee is pushing for sharper transparency and improved protection for small business clients with more frequent claim updates and policy renewal notifications. Amidst the aftermath of Cyclone Alfred, insurers face criticism for their slow response to damage claims, with over 100,000 claims totaling about one billion dollars needing processing. The Australian Financial Complaints Authority highlights the importance of understanding policy's coverage limitations through a motor policy dispute. Stay tuned next week for more updates.n

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