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    Insurance News

    IAG's Ambitious 2030 Growth Plan: What It Means for Tradies
    IAG's Ambitious 2030 Growth Plan: What It Means for Tradies
    31 May 2026: Paige Estritori
    Insurance Australia Group (IAG) has unveiled an ambitious strategy, aiming to achieve over $25 billion in gross written premiums by 2030. This plan, announced during their Investor Day in Sydney, focuses on expanding their customer base to more than 11 million and enhancing shareholder returns. For tradespeople across Australia, this development could have significant implications. - read more
    Addressing Delays in Income Protection Insurance Payouts: What Tradies Need to Know
    Addressing Delays in Income Protection Insurance Payouts: What Tradies Need to Know
    31 May 2026: Paige Estritori
    Recent reports indicate a 67% increase in violations of the Life Insurance Code of Practice related to timely income protection payments. This trend is concerning for tradespeople who depend on these payouts during periods of illness or injury. - read more
    Regulators Call for Immediate Reforms in TPD Insurance Amid Rising Mental Health Claims
    Regulators Call for Immediate Reforms in TPD Insurance Amid Rising Mental Health Claims
    31 May 2026: Paige Estritori
    In a recent joint roundtable, the Australian Prudential Regulation Authority (APRA) and the Australian Securities and Investments Commission (ASIC) have emphasised the pressing need for reforms in Total and Permanent Disability (TPD) insurance. The regulators highlighted that without prompt action, the sustainability of TPD insurance could be at risk, primarily due to the increasing frequency and complexity of mental health-related claims. - read more
    APRA Enforces Capital Add-On and Licence Conditions on KeyInvest After Risk Management Review
    APRA Enforces Capital Add-On and Licence Conditions on KeyInvest After Risk Management Review
    31 May 2026: Paige Estritori
    The Australian Prudential Regulation Authority (APRA) has recently imposed an additional $5.5 million capital requirement on KeyInvest Limited, a life insurance company and friendly society primarily offering funeral bonds. This decision follows an independent review that identified shortcomings in KeyInvest's risk management framework and raised concerns about the board's oversight of the insurer's long-term objectives. - read more
    Consumer Advocates Challenge Proposed Changes to Mental Health Exclusions in Life Insurance Policies
    Consumer Advocates Challenge Proposed Changes to Mental Health Exclusions in Life Insurance Policies
    31 May 2026: Paige Estritori
    Consumer advocacy groups have recently expressed strong opposition to life insurers' proposals to lift existing code restrictions on blanket exclusions for mental health coverage. This move by insurers aims to modify the Life Insurance Code of Practice to allow for broader exclusions related to mental health conditions. - read more
    Farm Insurance Articles

    The Rural Farmer’s Handbook to Affordable Farm Insurance
    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
    Risk Mitigation: Best Practices for Rural Farmers
    Risk Mitigation: Best Practices for Rural Farmers
    Risk mitigation is a strategy used to prepare for and lessen the effects of potential risks faced by rural farmers. It involves identifying potential threats and taking proactive steps to minimize their impact. - read more
    New Technologies in Crop Protection: How Precision Agriculture Enhances Insurance Coverage
    New Technologies in Crop Protection: How Precision Agriculture Enhances Insurance Coverage
    For generations, farmers have faced the challenge of protecting their crops from an array of threats, such as pests, diseases, and extreme weather. Traditional crop protection strategies have relied heavily on blanket approaches, as in using widespread pesticide application, or generalized irrigation systems, regardless of the varying needs across a field. While these methods have had their successes, they also come with limitations in efficiency, environmental impact, and the precision needed for optimal crop health and yield. - read more
    Essential Coverage: The Top Insurance Policies Every Australian Farmer Should Consider
    Essential Coverage: The Top Insurance Policies Every Australian Farmer Should Consider
    Welcome to a critical discussion surrounding the stability and protection of your farming enterprise. In the unpredictable world of agriculture, insurance plays a pivotal role in safeguarding the future of your business. As we delve into the intricacies of insurance coverage, we aim to establish a strong foundation for enduring success in the farming industry. - read more
    On-Farm Safety: Insurance Tips to Minimize Accidents and Liability
    On-Farm Safety: Insurance Tips to Minimize Accidents and Liability
    For Australian farmers, every day presents a complex web of activities that demand not only their physical toil but also a keen attention towards safety. On-farm safety is paramount and is the shield that guards the well-being of both workers and operations in Australia's diverse agricultural landscape. It's not just about the immediate repercussions of accidents, but also their long-term impact on a farm's viability. - read more

    Knowledgebase
    Reinsurance:
    Insurance that an insurance company purchases from another insurance company to mitigate risk.