The Insurance Council's decision to commission an external review of last year's massive flood catastrophe is the leading discussion point on the latest edition of the Insurance News podcast.

As previously reported, Deloitte will review the insurance industry’s response to record floods that struck Queensland and NSW, resulting in 240,000 claims.

This week’s edition of INsight, hosted by Insurance News MD Andrew Silcox, features the observations of Chairman Terry McMullan, Managing Editor John Deex, Deputy Editor Wendy Pugh and Senior Journalist Miranda Maxwell.

The panel also discusses $100,000 sanctions that can now be imposed on insurers for significant code breaches, fire defects in Victorian buildings, and recent criticism of NSW state insurer icare.

You can find previous episodes of INsight published here.