This episode of the "Weekly Insurance News Wrap" brought to you by Financial Services Online, covers important updates from Australia's insurance sector. The National Climate Risk Assessment report and its corresponding National Adaptation Plan highlight the serious threat posed by natural disasters to Australia's insurance industry, urging emission reduction to net-zero by 2050. In response, the government commits to strengthening the cyclone reinsurance pool and the Hazards Insurance Partnership, with a $1 billion investment in the Disaster Ready Fund for mitigation efforts. Meanwhile, the Australian Securities and Investments Commission (ASIC) relieves general insurance providers from appointing product distributors as authorised representatives until 2030, a step aimed at invigorating product development and enhancing market competition. For more on personal and business insurance, tune in to future episodes and visit financialservicesonline.com.au.

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