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Insurance News

Surge in Mental Health Claims Reshapes Australia's Insurance Landscape

02 Dec 2025: Paige Estritori

Australia's insurance industry is experiencing a significant shift as mental health conditions have become the leading cause of total and permanent disability (TPD) claims. Recent data from the Council of Australian Life Insurers (CALI) indicates that mental health issues now account for nearly one-third of all TPD claims, marking a substantial change in the industry's claim patterns. - read more

Australian Insurance Premiums See Notable Decrease

02 Dec 2025: Paige Estritori

Recent data indicates a notable decline in life and income protection insurance premiums across Australia, providing consumers with more affordable coverage options. According to the latest Direct Life Insurance Report from Rainmaker Information, direct life premiums have decreased by 7% since 2024. Similarly, direct income protection premiums have seen significant reductions, with average premiums for waiting periods of 30 days and 90 days decreasing by 12% and 13%, respectively. - read more

TAL's Health Sense Plus Now Covers Income Protection Policies

02 Dec 2025: Paige Estritori

In a significant development for policyholders, TAL has expanded its Health Sense Plus program to encompass income protection (IP) policies. This initiative, effective from August 8, 2025, aims to incentivise proactive health management by offering premium discounts to clients who engage in preventative health checks. - read more

Northern Australian Marinas Appeal for Government Support Amid Escalating Insurance Costs

02 Dec 2025: Paige Estritori

Marina operators across Northern Australia are sounding the alarm over surging insurance premiums, with some reporting increases exceeding 300% in recent years. This financial strain is prompting urgent calls for government intervention to ensure the sustainability of the industry. - read more

Coast Insurance Announces New Co-CEOs to Propel Strategic Growth

02 Dec 2025: Paige Estritori

In a significant move within the Australian insurance sector, Coast Insurance has appointed Stephanie Muller and Jordan Brindley as Co-Chief Executive Officers. This strategic decision underscores the company's commitment to robust leadership and sustained growth. - read more

Suncorp Braces for $350 Million Reinsurance Impact Following Severe Storms

02 Dec 2025: Paige Estritori

Recent supercell thunderstorms have wreaked havoc across South East Queensland and northern New South Wales, leading to significant financial implications for insurers. Suncorp, a major player in the Australian insurance market, is preparing for a substantial reinsurance retention of $350 million as a result of these events. - read more

QBE Insurance Faces Market Challenges as Premium Growth Slows

02 Dec 2025: Paige Estritori

QBE Insurance Group, Australia's largest insurer by market value, recently experienced a significant decline in its share price, reaching a seven-month low. This downturn is primarily attributed to a noticeable slowdown in the company's premium rate growth during the third quarter of the 2025 fiscal year. - read more

Climate Change's Impact on Rising Home Insurance Premiums in Australia

02 Dec 2025: Paige Estritori

Insurance Australia Group (IAG), a leading insurer in Australia, has highlighted the significant role of climate change in driving up home insurance premiums. The company reports that the increasing frequency and severity of weather events are major factors contributing to these rising costs. - read more

Australian Insurers' Preparedness for Emerging Risks Falls Short

02 Dec 2025: Paige Estritori

Recent findings from PwC's Insurance Banana Skins Survey indicate that Australian insurers are trailing behind their global counterparts in terms of preparedness for emerging risks, particularly in areas such as cyber threats and artificial intelligence (AI). - read more

QBE Insurance Faces Market Challenges with Slower Premium Growth

02 Dec 2025: Paige Estritori

Australian Insurers Face Challenges in Risk Preparedness

02 Dec 2025: Paige Estritori

Recent findings from the PwC Insurance Banana Skins Survey have highlighted a concerning trend: Australian insurers are trailing behind their global counterparts in terms of preparedness for emerging risks. This survey, now in its tenth iteration, gathered insights from 698 insurance executives across 42 territories, including 37 from Australia, encompassing leaders from major general, life, and composite insurance organisations. - read more

Allianz Australia Penalised for Misleading Insurance Practices

02 Dec 2025: Paige Estritori

In a significant regulatory development, Allianz Australia and its subsidiary, AWP Australia, have been fined $16.8 million for making false and misleading statements. This penalty underscores the critical importance of transparency and honesty in the insurance industry. - read more

Businesses Advocate for Reforms Amid Rising Insurance Premiums

01 Dec 2025: Paige Estritori

The Australian Chamber of Commerce and Industry, in collaboration with the Insurance Council of Australia, has released a report highlighting the urgent need for coordinated reforms to address the escalating insurance premiums affecting small and medium-sized enterprises (SMEs). The report underscores that soaring premiums are compelling many SMEs, including beauty salons, to either forgo insurance or reduce coverage, posing significant risks to their operations. - read more

AFCA Determines Home-Based Waxing Salon Is a Business

01 Dec 2025: Paige Estritori

The Australian Financial Complaints Authority (AFCA) recently ruled that a home-based waxing salon operated by a Suncorp customer constitutes a business, not merely a hobby. This decision has significant implications for beauticians managing home-based operations, particularly concerning insurance disclosures and compliance. - read more

ASIC Announces 2025 Focus on Insurance Pricing and Claims Handling

01 Dec 2025: Paige Estritori

The Australian Securities and Investments Commission (ASIC) has unveiled its enforcement priorities for 2025, placing a significant emphasis on insurance pricing practices, claims handling, and complaints processes. This initiative aims to enhance consumer protection and ensure fair practices within the insurance industry. - read more

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Farm Insurance Articles

Comparing Insurance Options for Mixed Farming: What Rural Owners Need to Know

Welcome to our comprehensive guide on comparing insurance options for mixed farming. As a rural farm owner, you face unique challenges that require specialized insurance coverage to protect your livelihood. - read more

Unpacking the Fine Print: Common Misunderstandings in Farm Insurance Policies

Welcome to our discussion on farm insurance, a crucial subject for every Australian farmer. Whether you're seasoned in agricultural ventures or just starting out, the world of insurance can often seem daunting and complex. - read more

The Rural Farmer’s Handbook to Affordable Farm Insurance

As a rural farmer, protecting your livelihood should be a top priority. Farm insurance is crucial because it safeguards your investment and income against unforeseen events such as natural disasters, accidents, and theft. - read more

Safeguarding Your Harvest: The Importance of Crop Insurance

In the ever-unpredictable world of farming, crop insurance emerges as a pivotal ally for farmers, hedging against the myriad of risks that come with cultivating the land. As the first step to understanding this crucial safeguard, let's unfold the question: What is crop insurance, exactly? In essence, crop insurance is a type of cover designed to cushion farmers from financial losses due to unavoidable circumstances such as adverse weather conditions, pests, disease, or even market fluctuations. - read more

Adapting to Change: How Australian Farms Can Thrive Amidst Climate Shifts

Australia's agricultural sector stands as a testament to the resilience and ingenuity of its farmers. Yet, this stalwart industry faces one of its greatest challenges: climate change. Rising temperatures, erratic weather patterns, and extreme events, from droughts to floods, are now common hurdles on the landscape of Australian farming. - read more

Knowledgebase

Occupational Hazard:
A risk associated with the nature of a particular occupation, which may affect insurance premiums.

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