In this week's Insurance News Wrap, the Insurance Council of Australia begins a strategic response to 78 recommendations from recent flood inquiries, focusing on improving industry practices and customer protections. Financial Services Online also covers a new $13 billion merger deal in the life insurance sector orchestrated by Nippon Life. This merger, featuring MLC Life Insurance, Resolution Life subsidiaries, and the new company Acenda, could significantly reshape the life insurance landscape in Australia. Lastly, the report discusses insurance coverage gaps in cyclone-prone regions, with the Queensland underwriting agency, Sure, urging homeowners to reassess and adjust their policies due to increasing cyclone risks and their related costs. With news on post-disaster responses, industry mergers, and the realities of cyclone risks, this podcast keeps listeners informed on the latest in Australian insurance needs.

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