In this episode of "Insurance News Wrap," Paige Estritori discusses worldwide insurance trends and key notes within the Australian sector. International insurance premium growth is slowing, influenced by "America First" trade policies from the Trump era. Despite global economic uncertainties, the Australian insurance sector is experiencing steady profitability. Contrarily, the Australian life insurance retail market, valued at $9.3 billion annually, has a sluggish growth driven by premium hikes rather than new clients. The show also highlights ASIC's challenge to a federal court ruling on "pre-existing condition" in HCF Life insurance products, which has the potential to modify customer protections and regulations. Finally, the Insurance Council of Australia is advocating for enhanced transparency and improved building management in the Australian Capital Territory strata, arguing this could benefit strata insurance premiums and be crucial for e-scooters' safety.n

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