Each week, Keyperson Insurance Weekly News Podcast distils the biggest local and global stories shaping risk, regulation and business continuity for Australian companies. Expect concise headlines, plain‑English context, and what it means for your team and operations. We sort signal from noise across insurers, regulators and market trends, so you stay informed and prepared. No hype—just a reliable, time‑saving briefing you can trust.
This Week:
This week: a claims review finds communication failures are delaying long-running life insurance claims; AFCA cracks down on mis-sold funeral cover and harassment; mens therapy dropout is driving longer, costlier mental health claims across life and workers comp; and the RBAs latest rate hike tightens budgets. Practical takeaways: demand clear claims updates and documentation, avoid hard-sell policies, ensure key person and income protection include rehab and mental health support, and review premium settings to preserve critical cover.
Hello and welcome to the Keyperson Insurance Weekly News Podcast; Im Paige Estritori, and its Monday, 9 November 2026.
First up, a deep-dive review of life insurers claims handling found communication gaps are slowing down long-running claims, especially income protection, or IP, and total and permanent disability, known as TPD. Investigators said some insurers asked for key information too late and didnt always meet promised update timeframes. For leaders, that means when a claim happens, clarity and cadence matter. Make sure your policy outlines expected updates, and that your team keeps medical and financial documents ready so claims can move without avoidable delays.
Meanwhile, the industry ombudsman, the Australian Financial Complaints Authority, or AFCA, ruled an insurer mis-sold funeral cover and harassed a customer with dozens of payment-chasing calls. The firm must refund premiums with interest and pay compensation. The signal is clear: hard-sell tactics are being stamped out. If youre comparing cover, be wary of cold calls, understand the difference between funeral and life cover, and check that cancellation is straightforward and well-documented.
In workforce health, new data links high therapy dropout rates among men to longer and costlier mental health claims across life and workers compensation. Payouts tied to mental health have roughly doubled over five years, and about one in three TPD claims now cite psychological conditions. For employers, early support can shorten time away from work. Review whether your key person and IP cover include rehabilitation and mental health pathways, and pair that with practical in‑house support like EAPs and return‑to‑work plans.
And to the economy: the Reserve Bank lifted the cash rate to about 4.85% last week, its fifth hike this year. Many households and small businesses will feel the squeeze, with average borrowers paying roughly six and a half thousand dollars more per year than in January. If budgets are tight, review premium frequency and optional extras so you can keep essential protections in place without overcommitting.
Thats it for this week. For plain‑English guides and to compare keyperson cover for your business, head to keyperson-insurance.com.au. Thanks for listening, and Ill catch you next Monday.
The information on this website is general in nature and does not take into account your objectives, financial situation, or needs. Consider seeking personal advice from a licensed adviser before acting on any information.
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Knowledgebase
Insurable Interest: A financial or other kind of interest in the insured item or person, necessary for a valid insurance contract.
