This week's episode of the Weekly Insurance News Wrap, presented by Paige Estritori for Financial Services Online, discusses key insurance industry updates from Australia. The National Insurance Brokers Association (NIBA) is urging insurers to respond to claim inquiries faster by reducing the current waiting period from ten business days to just five. The Insurance Brokers Code Compliance Committee also encourages better protections across all insurance products, particularly benefiting smaller businesses. The episode concludes with a review of a Federal Court decision confirming that insurers Vero, QBE and Star International are required to cover the additional repair costs incurred post policy expiration relating to the Baralaba Coal Company radial coal stacker case.

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