This episode of the Weekly Insurance News Wrap looks into recent happenings within the Australian insurance industry. Starting with Elders Insurance's warning on impending storm risks that greatly affect farming productivity and lead to expensive claims from damage, especially during the summer season. It emphasized the need for contingency plans to safeguard farming infrastructure. The show also highlighted WFI Insurance's initiative in partnership with AgCarE, which offers reduced premiums to farmers adopting sustainable agricultural practices through their certification. Conversely, climate change continues to impact the insurance industry, with IAG reporting increased home insurance premiums due to escalating extreme weather instances, such as bushfires and hailstorms. The episode concludes with a call for resilient strategies and collaboration to maintain affordable and sustainable insurance amidst these challenges.

In this weekly insurance news wrap, Financial Services Online offers a warning about road safety, given the spike in freight traffic over the summer holidays in Australia, and the role of trucks in frequent fatal crashes. In global insurtech news, investments have fallen by 50%, yet AI-centric insurtechs are gaining prominence. The Australian insurance industry is expected to grow to $144 billion in direct premiums by 2029, driven by demand for natural disaster coverage and personal accident health insurance. Lastly, Australian insurers report a net profit of $1.11 billion, primarily due to a decline in catastrophe-related claims. This could potentially offer stability in premium rates for tradespeople and small businesses. Stay informed about these trends for sound insurance decisions.

In the latest news from Australia's insurance industry, Envest Group under the Ardonagh umbrella, introduces TLI Underwriting, specializing in insurance for the heavy motor fleet industry. This strategic move aims to fill a market gap, tailoring to large fleet operators. Meanwhile, Insurance Australia Group (IAG) has boosted profit forecasts following the successful acquisition of RACQ Insurance, expanding market dynamics and revising insurance options. On another note, the National Truck Accident Research Centre emphasizes the need for stringent safety measures and technology adoption as human error is the leading cause of major truck crashes. Finally, Hutch Underwriting announces a comprehensive professional indemnity insurance for tradespeople, including standard cyber coverage, catering to projects under $10 million and offering digital accessibility. These updates highlight progressive expansions, strategic shifts, and the emphasis on safety within the insurance sector in Australia.

In this episode of Weekly Insurance News Wrap of 2026, host Paige Estritori reviews recent significant developments in the Australian insurance industry. Melbourne-based Sterling Insurance gains a professional indemnity (PI) binding authority with Lloyd's for an expanded market reach. The Australian Treasury begins consultations to strengthen PI insurance and lessen reliance on the Compensation Scheme of Last Resort. Sydney-based insurtech, Upcover, introduces a unique insurance product specifically tailored for nursing professionals, while Allianz Australia Insurance and subsidiary AWP Australia receive a significant penalty for misleading customers about travel insurance coverage. Visit financialservicesonline.com.au for personal or business insurance solutions.n

On this episode of Weekly Insurance News Wrap, host Paige Estritori discusses Sterling Insurance's professional indemnity binding authority acquisition with Lloyds, boosting offerings to Australian brokers and solidifying their foothold in professional indemnity insurance. She also highlights the Australian Treasury's consultation initiative to strengthen professional indemnity insurance, reducing reliance on their Compensation Scheme of Last Resort. Estritori reports on a recent landmark ruling by the Australian Financial Complaints Authority, instructing QBE Insurance to honor an arson claim, signaling a need for greater transparency in insurance applications. Finally, she delves into CHU's 2025 State of the Strata Market report that underscores industry stability, a 2.8% increase in strata insurance premiums, and the focus on climate risk management, regulatory changes, and consumer protection.

In the first Weekly Insurance News Wrap for 2026, Financial Services Online updates listeners on developments in midwifery and fitness sectors. The Department of Health Disability and Ageing launched a Professional Indemnity Scheme for private practising midwives, including groundbreaking coverage for intrapartum care and home births, with a transition period until December 31, 2026. Insurance broker Marsh introduces tailored insurance solutions for fitness professionals, covering claims from client injuries and property damage. AUSactive's Professional Plus Membership expands on this with legal and HR guidance and a nationwide infrastructure database. FIT College now offers their students studying fitness courses a comprehensive insurance plan against possible risks. However, it requires certifications and risk assessments to qualify. The updates suggest efforts to foster a safe environment for professionals in these sectors.

In this episode of the Weekly Insurance News Wrap, host Paige Estritori discusses the impressive growth of Insuregroup in the truck insurance sector, with the firm processing over ten thousand policies last year, a 25% increase from the previous year. This surge responds to increased demand for tailor-made coverage due to growing freight volumes and regulatory pressures. The 2024 NTARC Report, stating over 85% of severe truck accidents involve multiple vehicles, further highlights the urgent need for comprehensive insurance in this sector. Stirling Sanderson, Managing Director of Insuregroup, explains that truck insurance extends beyond legal compliance to vital protection within this volatile environment. Ultimately, the industry is leaning towards more strategic risk management, reinforcing the key role of insurance in ensuring the safety of transport operations. Tune in next week for more updates in the insurance world.

This week on Financial Services Online, we discussed significant updates in the insurance industry. The specialist brokerage Insuregroup recorded a 25% rise in truck insurance policies amid increased freight volume and regulatory pressures, marking the growing demand for customised coverage. Australian life insurers reported an impressive profit jump to $360 million, signaling resilience and potential product improvements in the sector. However, the industry also noted a troubling rise in mental health-related claims, particularly among young Australians. In response, preventive physical activity measures are being advocated. The episode concludes with chief trends in life and income protection insurance premiums. They've seen a decrease thanks to improved underwriting practices, competition, and operational efficiencies. For informed decisions on insurance policies that suit personal goals and needs, a thorough review is essential.

In this episode of Financial Services Online's weekly insurance podcast, Paige Estritori discusses major developments in the Australian insurance sector, focusing on farming safety and insurance. WFI Insurance and Farmsafe Australia have collaborated to raise farming safety standards, with WFI sponsoring the annual 'Safer Farms Report'. This partnership is paramount, in light of the rise in farm incidents leading to 72 deaths in the past year. Additionally, Argis Underwriting and Pacific International Insurance have partnered to reintroduce farm insurance in Australia. The episode also outlines reduced farm liability claims in WFI Insurance's reports, emphasizing an improvement in on-farm safety practices. The podcast wraps up by looking forward to a safer and more resilient farming industry in Australia moving forward into 2026.

In this episode of Weekly Insurance News Wrap, Paige Estritori discusses recent happenings in the trucking and insurance sectors in Australia. Highlighted events include the presentation of the National Trucking Industry Awards with the coveted Outstanding Contribution award going to Mark Tobin, and the National Professional Driver of the Year awarded to Brad Train. Ann Lopez was also honored for her work in diversity and inclusion. Insurance provider Insuregroup is praised for processing over 10,000 policies, marking an upward trend in the Australian freight industry. Environmental standards for heavy vehicles are set to improve with increased mass limits for compliant vehicles. However, a PwC survey spotlights shortfalls in the insurance sector in areas like cybersecurity, AI, and political risks suggesting need for improvements in workforce skills and technology infrastructure. The podcast emphasizes the sector's need for adaptability and a commitment to safety, risk management, and modern technology in the upcoming year.n

In this week's podcast, Paige Estritori covers a range of insurance news updates from Australia. First, a PwC report raises concerns about Australian insurers' readiness to tackle cyber risks, emphasising the importance of robust cybersecurity and risk management systems. The Australian Treasury is implementing reforms on professional indemnity insurance to strengthen the Compensation Scheme of Last Resort as concerns grow about its financial sustainability. The insurtech company Upcover ensures professional indemnity insurance for nursing professionals, offering a tailored solution for Australia's substantial nursing workforce. Despite recording $1.111 billion in claim payments, APRA reports an 8% decrease in professional indemnity claims paid, offering an advantageous moment for securing cost-effective coverage. For more information, visit financialservicesonline.com.au.n

In this week's podcast from Financial Services Online, Paige Estritori discusses major issues affecting Australia's insurance sector. Key points include the Insurance Council of Australia's call for modernising outdated civil liability laws, which have contributed to a significant increase in public liability insurance premiums. This has impacted small-to-medium enterprises and non-profits, with the entertainments and tourism sectors being particularly hit. Additionally, rising injury claims have seen businesses accepting larger financial risks, highlighting the need for risk management strategies. Positive developments include the Cyclone Reinsurance Pool's offer of lower premiums for cyclone-prepared property owners. Lastly, the podcast highlights issues with strata property governance in Victoria, which has led to high insurance premiums and necessitates improvements in transparency and education in owner corporations. Visit financialservicesonline.com.au for more personal and business insurance information.

In this episode of the Weekly Insurance News Wrap, Paige Estritori discusses key trends in Australia's insurance landscape, focusing in particular on strata, construction insurance, and industry reforms. CHU, a leading strata insurance underwriting agency, significantly increased its insurance capacity from $300 million to $690 million to accommodate growing strata developments. The Insurance Council of Australia advocates for reforms in Victoria's strata laws amid rising premiums linked to poor governance and construction defects. Despite a trend of rising costs, construction insurance premiums declined as competition intensified in 2025. The construction sector is grappling with rising costs due to supply chain disruptions, inflation, and labour shortages. Improved strategies and collaboration with insurers offer hope for mitigating risks and maintaining project viability. Stay informed with these industry trends at Financial Services Online.

This episode of "Weekly Insurance News Wrap" features key developments in the insurance industry from the last week of December 2025. CHU, Australia's leading strata insurance agency, raises its insurance capacity from $300 million to $690 million, offering customers more choice, flexibility, and an efficient indicative pricing tool for brokers. Contrarily, the Construction Insurance Market Update noticed a reduction in insurance premiums, attributed to increased competition and an amplified number of insurers. On the healthcare front, insurance regulations received serious revisions with mandatory higher coverage limits for professional indemnity insurance, inclusion of telehealth services, and increased patient safety measures. However, this brought a rise in malpractice claims and subsequently, insurance costs. Therefore, the healthcare professionals are advised to review their policies frequently, improve skills, and reduce potential errors.

In this episode, Paige Estritori from Financial Services Online discusses escalating risk levels on roads during holiday seasons due to increased freight and holiday traffic. The National Truck Accident Research Centre reports that most fatal car-truck crashes are not caused by the truck driver, emphasizing the need for motorists to adapt to the operational challenges that heavy vehicle drivers experience. Estritori highlights the importance of rest breaks during long trips and the increasing traffic in residential areas due to online commerce. She advises a safety-first approach to reduce accidents. Also, rising motor collision claims have created epidemic challenges for Australian fleet operators, mandating proactive risk management and compliance with the National Heavy Vehicle Regulator. Technological advancements such as Usage-Based Insurance and data analytics offer the potential for enhanced safety, reduced claims, and operational efficiency amid rising collision risks.

In this episode of the Weekly Insurance News Wrap, Paige Estritori covers key highlights such as the positive growth forecast for Australia's life insurance market in 2025, attributed to mitigated cost of living pressures, stabilized claims, and higher bond yields. In addition, leading life insurance provider, TAL, is expanding its Health Sense Plus program to include income protection policies, a move that motivates preventive health checks by offering premium discounts. In marine insurance news, Pelagic Risk Services upgrades its sponsorship level with the Marina Industries Association, launching an Insurance Services Portal that could transform risk management and operations. Concurrently, the Rhodian Group partners with Marinex Underwriting to provide tailored marine insurance products. Visit financialservicesonline.com.au for more on the topic.n

In this episode, Paige Estritori of Financial Services Online discusses the forecasted profitability downturn in the Australian insurance sector, following a decade of high returns. The episode explores predictions of a slowdown in growth of premiums and reduced growth in personal lines, potentially leading to premium reductions for certain sectors like beauty. It also notes increased competition among insurers. Additionally, the resilience and growth of Australian insurtech start-ups amidst market changes is highlighted, with increased revenues, private investments and expanding international customer bases. However, the episode also addresses challenges faced by these start-ups, particularly in integrating AI, data security, and regulation. Paige reinforces the need for strategic planning, staying informed, and exploring insurtech innovations for improved insurance coverage.n

In this weeks Financial Services Online Insurance News Wrap, Paige Estritori discusses Insurance Australia Group's (IAG) boosted profit projections because of RACQ Insurance's integration and the impact on the transport sector. Next, the introduction of TLI Underwriting by Envest Group, a motor agency targeting large truck fleets, brings more specialised industry expertise. Serious concerns arise from research showing human error, primarily distraction, inattention, speeding, and inadequate following distances, are causing a rise in major truck accidents. Transport business owners are advised to mitigate these risks by improving driver training and utilizing technology. Lastly, the impact of climate change on home insurance in storm-prone areas is addressed, highlighting the need for improved building codes, infrastructure, and suitable insurance coverage as we shift to a low-carbon economy.

In this episode of the Weekly Insurance News Wrap, the key subjects include the looming traffic safety concerns relating to the Australian summer holidays, as increased freight activity coincides with peak travel times. In the corporate sector, Insurance Australia Group (IAG) is forecasting improved financial performance after its integration of RACQ Insurance promises better products for trade and small business clients. However, there is concern as Queensland's insurance duties revenue is expected to surpass $2 billion by 2028-29, potentially resulting in higher business insurance premiums for tradespeople. Lastly, the Australian Insurance Industry anticipates a sizeable increase in direct written premiums in the next four years due to the growing necessity for property and personal accident insurance. The episode concludes with an emphasis on the importance of staying informed and adopting risk management strategies to mitigate financial impact.

In this week's episode of Financial Services Online, we discuss the challenges faced by Australia's insurance giant, QBE Insurance Group, due to slowing premium rate growth, and concerns persist despite a proposed $450 million share buyback. We also highlight the record-breaking profits in the Australian insurance industry, tripling the five-year average to $6.1 billion in 2024, due to increased premiums and a benign year for natural disasters. However, affordability issues are rising with insurance premiums. We scrutinize the proposed $1.35 billion acquisition of the Royal Automobile Club by Insurance Australia Group (IAG) and potential impacts on competition and service quality in insurance sectors. Additionally, we underline the increasing influence of climate-related risks on insurance premiums and the need for risk assessment and management strategies in the context of climate change. Stay up to-date with insurance news, trends, and changes in industry conditions at financialservicesonline.com.au.