On this week's Financial Services Online podcast, Paige Estritori reports on key developments in Australia's insurance sector. Notably, the Australian Financial Complaints Authority (AFCA) ordered QBE Insurance to honour an arson claim from a restaurant, earlier denied due to the director's non-disclosed criminal history, highlighting the importance of full disclosure and clear communication between owners and insurers. In financial news, Insurance Australia Group (IAG) saw a net profit increase of 91% to $778 million in H1 of this fiscal year due to favourable weather conditions. However, IAG's CEO warns of potential, albeit slower, insurance premium increases, due to escalating climate-related risks and natural disasters. His advice? Proactively manage insurance, consistently reviewing policies, implementing risk mitigation measures, and maintaining close relationships with insurers to better cope with industry changes. For a full range of services, visit financialservicesonline.com.au.

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