In this episode of the Weekly Insurance News Wrap, Paige Estritori reviews key developments in the insurance sector. Eric Insurance came under the Australian Financial Complaints Authority's scrutiny and was ordered to refund an unfairly sold Guaranteed Asset Protection policy from 2012. Further, in response to the severe floods in New South Wales, Acenda released a comprehensive relief package with waived premiums and access to counselling resources. On the escalating threat of cyberattacks, QBE announced enhanced cybersecurity measures, further emphasizing the role of artificial intelligence in resilience and risk management. Lastly, a report by NobleOak Life Insurance showed a significant knowledge gap in understanding fully underwritten life insurance policies, highlighting the need for better education in the area.

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