Financial Services News Wrap
In this podcast, Paige Estritori delivers updates on the financial services industry in Australia. Key insurance regulators, APRA and ASIC, have joined forces with leading insurers to address significant changes within the Total and Permanent Disability Insurance market, responding to a surge in mental health claims. The retail market leans towards modern TPD structures while advisers favour traditional offerings. Superannuation fund, HESTA, announces a 12% cut in insurance fees from July 1st, enhancing coverage for the trades sector. The marine industry faces a workforce crunch, with over 90% of businesses worried about the shortage. In real estate, Australia's 5% Deposit Scheme led to a 22.8% increase in home-buying intention among Generation Z, boosting low-value mortgage loans. Stay up-to-date with developments in finance, insurance, superannuation, and money management on financialservicesonline.com.au.n
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