In this episode of Financial Services Online's Weekly Insurance News Wrap, Paige Estritori discusses recent rulings from the Australian Financial Complaints Authority (AFCA). The AFCA upheld Open Insurance's decision to deny a refund to a policyholder who cancelled his coverage due to a rooftop tent installation, reminding listeners about the importance of open communication and fully understanding policy terms. The AFCA also sided with Auto and General in a non-disclosure case, emphasizing the necessity of complete transparency when buying insurance. On a positive note, Australian life insurer Acenda won four prestigious awards at the ALUCA Life Insurance Excellence Awards, testifying to its customer-centered service and innovative practices. Finally, a ruling in favor of covering an arson claim despite the claimant's undisclosed criminal past reiterated the importance of precise and upfront questioning during the insurance policy initiation.n

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