In this episode of the Financial Services News, Paige Estritori discusses key updates impacting the financial landscape in Australia. The federal government's ban on using genetic test outcomes in life insurance underwriting is highlighted as a major game changer. Under new legislation, insurers are prohibited from discrimination based on genetic tests, a move seen as a win for consumers and public health. The episode also focuses on the Australian Financial Complaints Authority's call for feedback on superannuation insurance dispute procedures. Furthermore, it sheds light on the growing financial burden on Australian households due to escalating home insurance premiums linked to climate change. Lastly, Estritori talks about Swiss Re's notable net income growth in 2024's first half due to decreased disaster claims and strong investment earnings.
