In this week's insurance update, the Australian Securities and Investments Commission has urged insurance and financial product providers to improve distribution practices, following serious compliance issues. Additionally, a proposal by the federal government to ban genetic test results in life insurance underwriting has received widespread endorsement as a step towards preventing genetic discrimination. In home insurance news, increasing premiums due to climate change risks are becoming a heavy burden for many households, indicating a need for policy reform and awareness. Meanwhile, Swiss Re has reported a significant rise in net income, surpassing expectations. The episode concludes by stressing the importance of staying informed about the insurance industry.

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