In this week's news from Financial Services Online, we cover three significant insurance events. First, two farmhouses were denied insurance payouts for earthquake damages from 2018 due to pre-existing issues in their buildings, a decision supported by both Allianz and the claimant's expert. The Australian Financial Complaints Authority upheld this influential ruling. Second, the Suncorp Group increased their reinsurance protection limit to $6.75 billion, thanks to a stable global reinsurance market. Key adjustments include not renewing a quota share deal in Queensland, shifting retention costs for multiple events, and a substantial raise in the natural hazard allowance to $1.565 billion. Lastly, the Insurance Manufacturers of Australia were ordered to compensate a claimant for a stolen vehicle, despite skepticism over details in the claim. The decision upheld the right to insurance, even for non-driven vehicles. These developments demonstrate industry resilience and evolving risk landscapes in the insurance sector.

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