Looks like I was given the same advice this morning.
In answer to your question tourisman the email I have specifically highlights that it is effective FROM the 21st of December not to, as such this doesn't appear to be old news as you have suggested.
This email I have details the supplementary PDS being that is being released effective for policies sold from 21st December withdrawing insolvency coverage.
The email does state that the review has been completed (as opposed to the advice that it was underway as previsouly posted on this thread) and that cover will not be provided for policies issued from the 21st of December.
I guess any decision by the insurer could be entirely without base, it is general insurance retail policy after all. In essence there are no real regulations on what they have to include or exclude, just that they have to advise specifically what they do and don't cover at the time of purchase. I assume that this information will be covered by the supplementary PDS being issued in conjunction with the standard PDS for the consumer to decide whether or not they want to purchase that policy.
It is a rumour network after all so believe what you want to believe.