Insurance News Wrap
This episode of 'Weekly Insurance News Wrap' by Financial Services Online provides important updates on Australia's insurance industry. First, a major change in general insurance practice is expected with a thorough review of the Insurance Code offering over 100 recommendations. Particularly, Tradies could benefit from improved claims management, fair settlements, and efficient dispute resolution. ASIC has expressed concerns about ongoing delays in Super Death Benefit Claims, urging for clearer claim timelines and supportive measures. In Queensland, escalating rural insurance costs have caused uproar, leading to an ACCC investigation into market competition fears. Lastly, tax reforms proposed for landlords have spilt opinions, urging landlords to consider insurance factors in their plans. Regular insurance reviews are recommended for all listeners to ensure optimal protection in changing circumstances.n
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