Insurance News Wrap

This week's episode covers the ACCC's review of Insurance Australia Group's proposed acquisition of RAC Insurance, which could affect competition and pricing in Western Australia's insurance market. The podcast also discusses the concerns of Australian insurers regarding premium affordability, in light of increased claims costs and climate event-related losses. Adaptations by insurers such as adju...

In this week's Insurance News Wrap podcast, the Australian Competition and Consumer Commission scrutinizes Insurance Australia Group's $1.3 billion acquisition of the Royal Automobile Club of Western Australia's insurance division over potential competition concerns. Meanwhile, the Australian Securities and Investments Commission urges Financial Services firms to boost their cyber resilience amid...

In this week's Financial Services Online podcast, Paige Estritori discusses ASIC's call for enhanced cyber resilience among Australian Financial Services licensees due to a rise in AI-driven threats to the insurance industry; a response to incidents like last year's Qantas data breach. Hostplus extends its partnership with MetLife Australia until 2028, continuing to provide cost-effective insuranc...

This episode of Financial Services Online's podcast, hosted by Paige Estritori, covers a range of pressing topics in the insurance sector. The Australian Securities and Investments Commission urges insurance companies to strengthen their cyber resilience strategies in the face of AI-driven threats. The superannuation fund Hostplus and MetLife Australia reaffirmed their group insurance alliance, wh...

In the Weekly Insurance News Wrap, critical issues impacting the Australian insurance industry are discussed. Rising farming costs due to increased fuel, water, and labour prices are threatening the profitability of the dairy industry, despite governmental efforts to offer a $10 billion relief package, inclusive of plans to enhance local production and reduce import reliance. Furthermore, the Prud...

In this episode of the Weekly Insurance News Wrap, we discuss rising operational costs faced by Australian dairy farmers and the subsequent call for disciplined cost management. Australia's Federal Government has announced a $10billion package to secure fuel and fertiliser supplies, aiming to alleviate some of these challenges. Moving to the insurance sector, a trend towards intermediated general...

In the latest episode of the Weekly Insurance News Wrap, we discuss APRA's report of a rise in intermediated general insurance premiums in Australia, reaching $22.97 billion in the last half of 2025. The move underscores the growing importance of intermediaries in customized insurance coverage. We also cover HESTA's pledge to decrease insurance fees by an average of 12% from July 1, 2026, impactin...

In this episode of Financial Services Online's Weekly Insurance News Wrap, we delve into several key updates in Australia's insurance sector. MECON Insurance is boosting its underwriting capacity, offering up to $120 million in coverage for large-scale construction projects. Suncorp has secured an AU$2.4 billion reinsurance agreement to cap 90% of natural hazard costs, which could trigger a AU$100...

In this episode of Weekly Insurance News Wrap, we discuss key updates in Australia's insurance industry. Firstly, Suncorp's strategic AU$2.4 billion reinsurance agreement is designed to boost financial stability by capping natural hazard costs. This yearly arrangement of AU$800 million is set to commence by end June. Zurich Financial Services Australia is set to acquire ClearView Wealth Limited fo...

This podcast episode from Financial Services Online hosted by Paige Estritori discusses significant updates in the Australian finance scene. It discusses Acenda Life's noteworthy revisions to their Retail Life Insurance portfolio in response to evolving customer needs. The changes include augmented income protection thresholds and adjusted maximum entry ages for different cover types. Another pivo...

In this episode of Financial Services Online's weekly industry news wrap-up, host Paige Estritori discusses key highlights from Australia's insurance sector. Acenda Life has updated its Retail Life Insurance portfolio, now offering increased income protection thresholds and maximum entry age limits. Zurich Financial Services Australia has acquired ClearView Wealth Limited for $415 million in a sig...

In this week's insurance news, Acenda Life updated their Retail Life Insurance portfolio, enhancing coverage and flexibility for policyholders from April 11, 2026. Key updates include increases in income protection thresholds and maximum entry ages for some types of cover. Meanwhile, Zurich Financial Services Australia announced acquiring ClearView Wealth Limited for approximately AUD 415 million,...

In this episode of the Weekly Insurance News Wrap, Paige Estritori discusses key industry developments. She highlights APRA's emphasis on insurers' need to increase AI risk oversight due to concerns about cybersecurity vulnerabilities and reliance on single AI vendors. Estritori then talks about the surge in strata property insurance premiums, attributing this to severe weather events, surging con...

In this episode of Weekly Insurance News Wrap, host Paige Estritori discusses several key topics: the need for increased AI risk oversight in Australia's insurance sector, the sharp rise in strata property insurance due to weather events, construction costs, and water damage claims, the decline in commercial insurance rates due to increased market competition, and expected reductions in premiums f...

In this episode of the weekly insurance news wrap, we discuss the key updates in the Australian insurance industry. Strata property owners are facing a significant rise in insurance premiums due to factors like severe weather events, inflating construction costs and dwindling competition. To manage these expenses, we suggest gathering multiple quotes, addressing any cladding issues and utilizing r...

In the latest episode of Financial Services Online's Weekly Insurance News Wrap, the host, Paige Estritori, discusses important topics concerning Australia's insurance market. Key subjects include a new legislation protecting genetic privacy in life insurance underwriting, a drop in commercial insurance rates signaling a buyer's market, a noted concern in premium affordability, potential increase...

In this episode, Financial Services Online discusses recent developments affecting the Australian insurance sector. Rising premiums due to the increased claims costs from weather events like Ex-Tropical Cyclone Alfred have been denting insurers' profit margin and posing affordability problems for self-employed professionals, especially personal trainers. The podcast suggests ways to mitigate these...

On this week's Weekly Insurance News Wrap, important developments in the Australian insurance landscape are discussed. The Australian Parliament has passed an act banning the use of genetic test results in life insurance underwriting, aiming to address genetic discrimination concerns. The Insurance Council of Australia is advocating urgent reforms to combat rising cost pressures on small businesse...

The podcast 'Weekly Insurance News Wrap' discusses recent upheavals in Australia's insurance sector. A major highlight is the passing of the Genetic Testing Protections in Life Insurance and Other Measures Act of 2025 by the Australian Parliament, preventing the use of genetic test results in life insurance underwriting. The Insurance Council of Australia addresses the increase in public liability...

On this edition of the Weekly Insurance News Wrap, two major policy changes are discussed: the Australian Parliament's prohibition of genetic test consideration in life insurance underwriting to combat genetic discrimination and the urgent call for reforms by the Insurance Council of Australia amid rising insurance costs for small businesses. Achieving an impressive AUD 77.7 billion in total reven...

In this episode of Financial Services Online, Paige Estritori discusses major developments in the insurance industry. The Australian Parliament's recent amendment prohibiting the use of genetic test results in life insurance underwriting aims to prevent genetic discrimination, mandate consumer privacy, and prompt insurers to revise risk assessment methods. The Insurance Council of Australia is urg...

In this edition of Financial Services Online's weekly insurance news, the focus is on the pressures on small businesses due to insurance costs. The Insurance Council of Australia highlights the need to review outdated liability laws attributing to soaring insurance premiums by up to 60% since 2019, calling for legal caps and a nationwide farming claim ban. An underinsured café faces hardships afte...

In this week's Financial Services Online podcast, host Paige Estritori discusses key stories from the Australian insurance sector. The Insurance Council of Australia has advocated for legal changes to address the rising insurance costs burdening small businesses, caused by outdated liability laws that have led to an up to 60% increase in premiums since 2019. The Council has proposed a nationwide r...

In this episode of the Weekly Insurance News Wrap, we discuss the recent surge in insurance-related complaints reported by the Australian Financial Complaints Authority. Key areas under stress are home-building and motor vehicle insurance, with issues largely related to processing delays. We also cover the efforts by South-West Queensland councils to tackle rising premiums through a proposed Commu...

In this week's Financial Services Online podcast, Paige Estritori discusses key issues impacting the Australian insurance industry. Innovations include the launch of Cohabit's digital insurance platform, with its tailored insurance options, policy management, and access to over fifty thousand building profiles, promising transparency in the strata insurance industry. The podcast also highlights th...