The Australian Securities and Investments Commission (ASIC) report on insurer pricing promise failures is discussed on the latest episode of the Insurance News podcast.

As previously reported, ASIC says the reviews showed some insurers had inadequate product governance, systems, process and controls in place to deliver on promises, there had been underinvestment in systems, processes and data and issues were exacerbated by complexity in promise design and delivery. 

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

The panel also looks at a court decision with implications for backyard parties as well as latest dispute decisions on business interruption claims lodged by two beauticians.

Impacts on cycling groups from rising public liability costs are discussed, as well as the theme for this year’s Dive In.

You can find previous episodes of INsight published here.