In this episode of the Weekly Insurance News Wrap: a proposition for insurance companies to allocate 1% of home insurance premiums towards a resilience fund. This potentially yields a hundred million dollars annually, offering relief to those finding insurance unaffording due to property issues. The episode also highlights an intriguing story about a denied homeowners compensation claim due to the discovery of a decommissioned well, underscoring the necessity for specific definition in insurance claims. Finally, financial advisers face potential cost impact owing to ASIC's increase in levies for 2023-24 due to stringent compliance measures, further emphasizing the fight against unlicensed advice and consumer protection.

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