Insurance News Wrap

Thu, 11th Jun 2026

This episode of Financial Services Online discussed several important insurance news updates. Zurich Insurance's controversial decision to exclude traumatic head injury claims from AFL players superannuation policies due to concussion risks has prompted widespread concern, leading the AFL Players Association to seek alternative measures. APRA is introduced reforms to longevity products, aiming at the more sustainable and affordable treatment of annuities for retirees. A new alliance between nib and NobleOak Life paves the way for a range of life insurance products tailored to meet financial protection needs, particularly for small and medium-sized businesses. Lastly, CALI is advocating for a balance between consumer protection and access in response to proposed regulatory restrictions on life insurance lead generation activities.

Wed, 10th Jun 2026

In this episode of the Weekly Insurance News Wrap, key updates include the Australian Prudential Regulation Authority's recent reforms on the capital treatment of longevity products, aimed to improve sustainability and affordability for retirees. In partnership news, Australian health insurer nib has teamed up with NobleOak Life to introduce a broader range of life insurance products, enhancing financial security. The Council of Australian Life Insurers is lobbying to prevent life insurers from restrictions on lead generation activities, arguing it could limit access to vital insurance products. Lastly, the Queensland Law Society approved a 15% reduction in professional indemnity insurance levies for 2026 and 2027, thanks to a successful partnership with Lexon Insurance. Stay up-to-date and make informed decisions by tuning in next week.n

Tue, 9th Jun 2026

This episode of the Weekly Insurance News Wrap, hosted by Paige Estritori, presents news from Australia's insurance sector. The program begins with the Queensland Law Society (QLS) announcing a 15% reduction in professional indemnity insurance levies for 2066-67, marking a win for legal practitioners. Meanwhile, the Australian Competition and Consumer Commission has halted Insurance Australia Group's acquisition of RAC Insurance to prevent a reduction in market competition in Western Australia. The Insurance Council of Australia is urging for a review of outdated civil liability laws, which could potentially reduce insurance costs. Finally, the Australian Reinsurance Pool Corporation announces revised premium rates that incentivize risk mitigation against cyclones benefiting small and medium businesses in cyclone-prone areas. For more details, visit financialservicesonline.com.au.

Sat, 6th Jun 2026

This weekly podcast episode from Financial Services Online highlights key insurance industry developments. Hostplus has extended its partnership with MetLife Australia until 2028, aiming to enhance their superannuation fund members' insurance offerings. This includes improved claims, underwriting services, superior premiums, and personalized claims experiences. Given the broader changes in the insurance sector, the Hostplus-MetLife alliance's role is crucial in serving their 865,000 members' evolved needs. The podcast also teases an upcoming discussion about the NSW Government's planned Strata Law reforms, which could impact the insurance industry. Major insurance players IAG and QBE are navigating premium growth and escalating claims costs, demonstrating resilience in a challenging market. The episode concludes by encouraging listeners to stay insured and informed.

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.