Thu, 4th Jun 2026

Thu, 4th Jun 2026

This week's Insurance News Wrap covers a range of topics impacting the Australian insurance sector. Hostplus extended its partnership with MetLife Australia until 2028, aiming to improve their claims and underwriting services, which will potentially offer better premiums, favorable terms, and a personalized claims experience for Hostplus's members. New South Wales government introduced crucial strata law reforms earlier this week. Despite rising claims costs, industry leaders IAG and QBE are managing premium growth. Commercial insurance market trends indicate competition, expanded capacity, and stable reinsurance conditions in 2026. Post-COVID profits have improved for key players, leading to intensified price competition. Despite stable premiums in property insurance and the financial sector, the cybersecurity scene is seeing heightened costs due to an increase in cybercrime. Future market conditions hinge on geopolitical, energy, climate, and economic pressures. Stay informed with Financial Services Online.

Mon, 1st Jun 2026

Paige Estritori covers this week's insurance news ending May 31, 2026. In Australia's commercial insurance market, soft conditions continue due to increased competition, stable reinsurance, and a global capital surplus post-COVID. Property insurance premiums remain stable for well-maintained properties, with positives for mid-market businesses under general liability insurance. The challenge lies in the cyber insurance segment due to increasing cybercrime costs. The Australian Prudential Regulation Authority finalizes changes for insurers to offer competitively priced, sustainable retirement products, signifying a move towards secure financial choices for retirees. The Council of Australian Life Insurers proposes amendments to improve mental health coverage in life insurance. Lastly, APRA and ASIC collaborate with 19 insurance leaders to discuss sustainability concerns and the necessity for product redesign in the Total and Permanent Disability insurance market.

Sun, 31st May 2026

In this episode, Paige Estritori of Financial Services Online covers recent weekly insurance news. The Australian commercial insurance market is softening due to the improved profitability of post-COVID key players and a global surplus of capital, leading to price competition. Consumers see increased choices and steady premiums for well-maintained properties. Mid-market businesses with sound risk management get favorable general liability insurance deals. However, increased cybercrime has led to rising costs in cyber insurance. The trucking sector faces rising premiums due to higher claims costs from increased truck crashes, expensive repairs, labor costs, and insurance fraud. APRA has finalized changes to its prudential standards focusing on longevity products such as annuities, offering more security for retirees. In partnership with ASIC and 19 insurance executives, APRA explores TPD insurance market sustainability, urging insurers to innovate. Superannuation trustees play an essential role in addressing claim trends. Visit www.financialservicesonline.com.au for more.

Sat, 30th May 2026

This week, Paige Estritori from Financial Services Online provides insights into key trends in Australia's insurance market. The commercial insurance sector has seen an easing trend driven by increased competition, expanded capacity, and stable reinsurance conditions. New market entrants are contributing to an intense price competition, while changes in coverages, such as property, liability, and cyber insurances, are noted. However, the rise in cybercrime is posing a challenge to cyber insurance stability. Meanwhile, Australia's financial regulators held a roundtable discussion on the sustainability of Total and Permanent Disability Insurance, underlining the need for innovation and alignment of pricing models. In related news, HESTA superannuation fund announces a 12% reduction in insurance fees to make coverage more affordable, effective July 1, 2026. This move is expected to specifically benefit tradespeople, providing financial security with tailored solutions.n

Fri, 29th May 2026

In this episode, Paige Estritori discusses the key insurance sector updates of the week. Firstly, industry leaders have held a roundtable to discuss the sustainability challenges within Australia's Total and Permanent Disability insurance market amid increasing mental health claims and evolving employment patterns. Secondly, Australian superannuation fund, HESTA, has pledged a 12% average cut in insurance fees effective July 1, 2026. They also aim to enhance insurance protections during pregnancy, ease insurance fee waivers during parental leave, and streamline applications for increased coverage. Lastly, the Queensland Law Society has announced a 15% reduction in professional indemnity insurance levies for 2026/27, introducing additional innovations such as a 'No Claims Discount'. Listeners are reminded to speak with their insurance providers or trusted financial advisors to fully understand these changes.