In this podcast, Paige Estritori of Financial Services Online discusses recent developments in the financial services sector. Despite a significant increase in profits, Insurance Australia Group warns of insurance premium hikes due to persistent inflation and climate change impacts. The Australian hospitality sector, particularly cafes and restaurants, are feeling the effects with reported 20% increases in insurance costs. Consumer advocacy becomes crucial as companies, like Kogan, RAC, and Honey, face criticism for their steep premium increases despite recording high profits. On a positive note, Australia promotes sustainable transportation through an affordability initiative for electric vehicles targeting essential workers and those with incomes under $100,000. Collaboratively, The Clean Energy Finance Corporation and CommBank's EV Access Program offer substantial discounted loans, potentially saving buyers thousands. The podcast encourages listeners to stay updated on these financial shifts impacting both businesses and consumers.n
