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Insurance News
Year: Month:

AFCA Criticises TAL for Unfair Termination of Income Protection Benefits AFCA Criticises TAL for Unfair Termination of Income Protection Benefits
16 Nov 2025: Paige Estritori

The Australian Financial Complaints Authority (AFCA) has recently ruled against TAL, a prominent life insurer, for terminating a policyholder's income protection benefits without prior notice. This decision underscores the critical importance of procedural fairness in the management of insurance claims. - read more
Actuaries Institute Highlights Financial Strain of Mental Illness on Insurance Systems Actuaries Institute Highlights Financial Strain of Mental Illness on Insurance Systems
16 Nov 2025: Paige Estritori

The Actuaries Institute has issued a call for immediate action to address the escalating financial strain that mental illness is placing on Australia's insurance and compensation systems. This appeal underscores the pressing need to ensure the sustainability of the nation's financial safety net in the face of increasing mental health-related claims. - read more
Fitch Ratings Anticipates Continued Premium Increases in Australian Insurance Sector Fitch Ratings Anticipates Continued Premium Increases in Australian Insurance Sector
16 Nov 2025: Paige Estritori

Fitch Ratings has projected that Australian insurers will continue to implement premium increases, with gross written premiums expected to grow by mid to high single digits. This forecast is driven by the need to offset rising claims and increased allowances for natural hazards. - read more
Surge in Cyber Insurance Adoption Among Australian Businesses Surge in Cyber Insurance Adoption Among Australian Businesses
16 Nov 2025: Paige Estritori

In the past year, BizCover, a leading small business insurance provider, has reported an almost 50% rise in sales of cyber liability insurance. This significant uptick underscores the escalating awareness and concern among Australian businesses regarding cyber threats. - read more
IAG and Ag Guard Forge Partnership to Elevate Crop Insurance for Australian Farmers IAG and Ag Guard Forge Partnership to Elevate Crop Insurance for Australian Farmers
14 Nov 2025: Paige Estritori

In a significant development for Australia's agricultural sector, Insurance Australia Group (IAG) has announced a strategic partnership with Ag Guard, a specialist rural underwriting agency. This collaboration will see Ag Guard managing the underwriting for IAG-owned CGU and WFI's crop insurance portfolios starting June next year. - read more
WFI Insurance and AgCarE Collaborate to Incentivize Sustainable Farming Practices WFI Insurance and AgCarE Collaborate to Incentivize Sustainable Farming Practices
14 Nov 2025: Paige Estritori

In a move to promote sustainable agriculture, WFI Insurance has partnered with AgCarE, a certification program developed by AgForce, to offer premium reductions to farmers who achieve AgCarE certification. This collaboration aims to enhance financial, environmental, and social outcomes for Australian farmers and rural communities. - read more
Diversification in Small Farms Creates New Avenues for Insurance Brokers Diversification in Small Farms Creates New Avenues for Insurance Brokers
14 Nov 2025: Paige Estritori

The landscape of Australian agriculture is undergoing a significant transformation as small commercial farms increasingly diversify their operations to enhance income and sustainability. This shift presents both challenges and opportunities for insurance brokers, as new ventures introduce complex risk management needs. - read more
ICA's Strategic Plan to Combat Escalating Motor Insurance Costs ICA's Strategic Plan to Combat Escalating Motor Insurance Costs
14 Nov 2025: Paige Estritori

The Insurance Council of Australia (ICA) has unveiled a comprehensive report titled 'Motor Insurance Policy Paper – A Roadmap for Reducing Rising Premiums,' addressing the significant 42% increase in comprehensive motor insurance premiums since 2019. This surge has brought the average annual premium to $1,052 in 2024, prompting the need for coordinated action to alleviate the financial burden on consumers. - read more
Inattention and Speed: Key Contributors to Major Truck Accidents in Australia Inattention and Speed: Key Contributors to Major Truck Accidents in Australia
14 Nov 2025: Paige Estritori

The National Truck Accident Research Centre (NTARC) has released its 2025 Major Incident Investigation Report, shedding light on the primary human factors contributing to significant truck crashes across Australia. The findings emphasise the critical roles of inattention, distraction, and inappropriate speed in these incidents, underscoring the necessity for targeted safety interventions within the transport industry. - read more
EQT's Bold Move: A $3.41 Billion Bid for AUB Group EQT's Bold Move: A $3.41 Billion Bid for AUB Group
14 Nov 2025: Paige Estritori

In a significant development within the Australian insurance sector, Swedish private equity firm EQT has extended a takeover offer for AUB Group, valuing the insurance broking company at A$5.25 billion (US$3.41 billion). This proposal includes a price of A$45 per share, representing a 25.1% premium over AUB's last closing price. Following an earlier bid of A$43 per share, AUB has granted EQT exclusive access to its financial records for six weeks starting October 8 under a confidentiality agreement. - read more
Australian Insurers' Profits Soar to $6.1 Billion Amid Rising Premiums Australian Insurers' Profits Soar to $6.1 Billion Amid Rising Premiums
14 Nov 2025: Paige Estritori

Australia's insurance industry has reported an annual after-tax profit of $6.1 billion in 2024, according to KPMG's annual review. This figure is three times higher than the five-year average of $2 billion. The substantial profit increase is attributed to significant premium hikes and a year with fewer severe weather events. - read more
Allianz Australia Penalised $16.8 Million for Misleading Conduct Allianz Australia Penalised $16.8 Million for Misleading Conduct
14 Nov 2025: Paige Estritori

In a significant regulatory action, Allianz Australia and its subsidiary AWP Australia have been fined $16.8 million for making false and misleading statements. The Commonwealth Director of Public Prosecutions imposed the fines following an investigation and referral by the Australian Securities and Investments Commission (ASIC). - read more
Envest Group Unveils TLI Underwriting for Heavy Motor Fleets Envest Group Unveils TLI Underwriting for Heavy Motor Fleets
13 Nov 2025: Paige Estritori

Envest Group, a prominent player in Australia's insurance sector, has announced the launch of TLI Underwriting, a new agency dedicated to providing specialised insurance solutions for heavy motor fleet operators. This strategic move aims to address the unique challenges faced by larger transport businesses in Australia. - read more
AFCA Directs AIA to Pay Truck Driver's TPD Benefit After Decade-Long Dispute AFCA Directs AIA to Pay Truck Driver's TPD Benefit After Decade-Long Dispute
13 Nov 2025: Paige Estritori

In a significant ruling by the Australian Financial Complaints Authority (AFCA), insurance provider AIA has been directed to pay a total and permanent disability (TPD) benefit to a truck driver, concluding a protracted dispute that spanned over a decade. - read more
ICA Proposes Reforms to Reduce Insurance Costs in Queensland ICA Proposes Reforms to Reduce Insurance Costs in Queensland
13 Nov 2025: Paige Estritori

The Insurance Council of Australia (ICA) has recently submitted a series of recommendations to the Queensland Productivity Commission, aiming to address escalating insurance costs and bolster housing resilience across the state. These proposals are particularly pertinent to tradespeople, who are integral to the construction and maintenance of Queensland's housing infrastructure. - read more
NSW Builders Advised to Obtain Professional Indemnity Insurance Before 2026 NSW Builders Advised to Obtain Professional Indemnity Insurance Before 2026
13 Nov 2025: Paige Estritori

In light of recent legislative changes, BizCover is urging registered building practitioners in New South Wales (NSW) to secure professional indemnity (PI) insurance well ahead of the July 1, 2026 compliance deadline. This advisory follows the extension of the enforcement date under the Design and Building Practitioners Act 2021, which now mandates that builders hold PI insurance deemed sufficient to cover potential liabilities. - read more
Significant Premium Reductions in Australian Construction Insurance Market Significant Premium Reductions in Australian Construction Insurance Market
13 Nov 2025: Paige Estritori

The Australian construction insurance market has experienced a notable shift in 2025, with premiums decreasing across various lines due to intensified competition among insurers. According to Marsh's Construction Insurance Market Update 2025, the first half of the year saw average premium reductions ranging from 5% to 15%, marking a significant departure from the upward trend observed in 2024. - read more
BIA's New Combined Indemnity and Liability Insurance Now Available BIA's New Combined Indemnity and Liability Insurance Now Available
13 Nov 2025: Paige Estritori

Berkley Insurance Australia (BIA) has announced the launch of a combined professional indemnity (PI) and public liability (PL) insurance product, set to be available from June 1 through the Steadfast Client Trading Platform (SCTP). This initiative aims to simplify the insurance process for brokers and their clients by offering a unified policy that addresses both professional and public liability risks. - read more
Sterling Insurance Enhances PI Offerings with Lloyd's Binder Sterling Insurance Enhances PI Offerings with Lloyd's Binder
13 Nov 2025: Paige Estritori

Sterling Insurance has successfully secured a new professional indemnity (PI) binding authority with Lloyd's, a move that promises to provide Australian brokers with greater control over product offerings and pricing structures. This development is part of Sterling's ongoing commitment to delivering tailored insurance solutions that meet the specific needs of niche and complex risk sectors. - read more
APRA's 2022 Data Shows Stable PI Claims and Premium Reduction APRA's 2022 Data Shows Stable PI Claims and Premium Reduction
13 Nov 2025: Paige Estritori

The Australian Prudential Regulation Authority (APRA) has released its latest National Claims and Policies Database, providing valuable insights into the professional indemnity (PI) insurance sector for the 2022 underwriting year. The data indicates that PI claims payments for non-facility business remained relatively stable at $1.111 billion, a slight increase from $1.109 billion in the previous year. - read more
Allianz Partners Highlights Risks of Travelling Uninsured Allianz Partners Highlights Risks of Travelling Uninsured
12 Nov 2025: Paige Estritori

Recent research conducted by the Insurance Council of Australia (ICA) and the Department of Foreign Affairs and Trade (DFAT) has unveiled a concerning trend: approximately 14% of Australian travellers embark on international journeys without any form of travel insurance. This statistic has prompted Allianz Partners to urge Australians to reconsider the importance of securing adequate coverage before travelling abroad. - read more
Unveiling Hidden Exclusions in Travel Insurance Policies Unveiling Hidden Exclusions in Travel Insurance Policies
12 Nov 2025: Paige Estritori

Australian travellers are being urged to carefully review their travel insurance policies to identify potential exclusions that could affect their coverage. Legal expert Peter Carter from Carter Capner Law highlights that certain activities, such as riding motorbikes or jet skis and consuming alcohol, are often classified as high-risk by insurers. Incidents occurring during these activities may lead to claim rejections. - read more
EQT Proposes A$5.25 Billion Acquisition of AUB Group EQT Proposes A$5.25 Billion Acquisition of AUB Group
12 Nov 2025: Paige Estritori

In a significant development within the Australian insurance sector, Swedish private equity firm EQT has extended a takeover offer for AUB Group, valuing the company at A$5.25 billion (US$3.41 billion). This proposal includes a price of A$45 per share, representing a 25.1% premium over AUB's last closing price. The offer follows an earlier bid of A$43 per share, indicating EQT's strong interest in acquiring AUB Group. - read more
Australian Insurers Achieve Record Profits Amid Rising Premiums Australian Insurers Achieve Record Profits Amid Rising Premiums
12 Nov 2025: Paige Estritori

Australia's insurance industry has reported an after-tax profit of $6.1 billion for the year 2024, a figure that is three times higher than the five-year average of $2 billion. This substantial increase is attributed to significant premium hikes and a relatively benign year for natural disasters. - read more
Australia Reports 25% Reduction in Natural Catastrophe Insured Losses Australia Reports 25% Reduction in Natural Catastrophe Insured Losses
12 Nov 2025: Paige Estritori

The Insurance Council of Australia (ICA) has reported a 25% decrease in total insured losses from natural catastrophe events over the 12 months to 30 June 2025. The losses fell from $2.61 billion in 2023–24 to $1.97 billion in 2024–25, indicating a notable reduction in the financial impact of natural disasters on the insurance industry. - read more
Sure Insurance Boosts Strata Coverage to $20 Million Sure Insurance Boosts Strata Coverage to $20 Million
11 Nov 2025: Paige Estritori

In a significant move to address the longstanding issue of insurance affordability in Northern and Regional Queensland, Sure Insurance has announced an increase in its residential strata insurance coverage from $5 million to $20 million. This strategic enhancement aims to provide body corporates and lot owners with more competitive premium options and improved access to essential insurance services. - read more
CHU's 2025 Report Shows Stability in Strata Insurance Premiums Amid Climate and Regulatory Shifts CHU's 2025 Report Shows Stability in Strata Insurance Premiums Amid Climate and Regulatory Shifts
11 Nov 2025: Paige Estritori

CHU has released its 2025 State of the Strata Market report, providing a comprehensive analysis of the current state of the industry. The report offers valuable insights into premium movements, the impact of weather events, regulatory developments, and emerging risks affecting strata insurance. - read more
TelstraSuper Announces Decrease in Income Protection Insurance Premiums TelstraSuper Announces Decrease in Income Protection Insurance Premiums
08 Nov 2025: Paige Estritori

TelstraSuper, a profit-for-member superannuation fund, has announced a substantial decrease in income protection insurance premiums for its members. Effective from 1 July 2023, members can expect reductions ranging from 11.5% to 30%, following a comprehensive review of the fund's insurance pricing. - read more
Australian Income Protection Insurance Sales Experience Downturn Australian Income Protection Insurance Sales Experience Downturn
08 Nov 2025: Paige Estritori

Recent data from Plan For Life indicates a sharp decline in individual income protection insurance sales in Australia, with new risk income sales experiencing an 8.3% downturn in the year ending September 2024. This contrasts with previous periods of growth, highlighting shifting dynamics within the insurance market. - read more
New Port Disruption Insurance Addresses Rising Global Shipping Challenges New Port Disruption Insurance Addresses Rising Global Shipping Challenges
08 Nov 2025: Paige Estritori

In response to escalating global shipping challenges, leading broker Marsh and Lloyd's underwriter Tokio Marine Kiln have launched a pioneering business interruption insurance specifically designed for ports. This innovative product aims to mitigate the financial impact of trade disruptions caused by various factors, including geopolitical tensions and operational strikes. - read more
Marine Insurers Encouraged to Adopt AI to Mitigate Rising Industry Risks Marine Insurers Encouraged to Adopt AI to Mitigate Rising Industry Risks
08 Nov 2025: Paige Estritori

The International Union of Marine Insurance (IUMI) annual conference in Singapore has brought to light the critical role of artificial intelligence (AI) in transforming the marine insurance sector. Industry leaders emphasized the necessity for insurers to adopt AI technologies to effectively manage escalating risks and maintain a competitive edge. - read more
EQT's Bold Move: AUB Group's Potential Acquisition and Its Implications EQT's Bold Move: AUB Group's Potential Acquisition and Its Implications
08 Nov 2025: Paige Estritori

In a significant development within Australia's insurance sector, Swedish private equity firm EQT has proposed a takeover of AUB Group, valuing the insurance broking company at A$5.25 billion. This offer represents a 25.1% premium over AUB's last closing share price, underscoring EQT's strong interest in expanding its footprint in the Australian market. - read more
State Taxes Drive Up Insurance Costs for Australian Small Businesses State Taxes Drive Up Insurance Costs for Australian Small Businesses
08 Nov 2025: Paige Estritori

A recent report by the Australian Chamber of Commerce and Industry (ACCI) has highlighted a concerning trend: small businesses across Australia are facing insurance premium increases of up to 30% due to taxes and levies imposed by state and territory governments. This financial burden is prompting a growing number of small businesses to either underinsure or forgo insurance coverage altogether, exposing them to significant risks. - read more
Celebrating Excellence: Finalists Announced for the 21st Australian Insurance Industry Awards Celebrating Excellence: Finalists Announced for the 21st Australian Insurance Industry Awards
08 Nov 2025: Paige Estritori

The Australian and New Zealand Institute of Insurance and Finance (ANZIIF) has announced the finalists for the 21st Australian Insurance Industry Awards, set to take place on August 21, 2025, at the Star Event Centre in Sydney. These prestigious awards honor the outstanding achievements of individuals and organizations across the entire insurance value chain, highlighting the depth of talent, innovation, and dedication within the industry. - read more
EQT Proposes $3.41 Billion Acquisition of AUB Group EQT Proposes $3.41 Billion Acquisition of AUB Group
08 Nov 2025: Paige Estritori

In a significant development within the Australian insurance industry, Swedish private equity firm EQT has made a takeover offer for AUB Group, valuing the company at A$5.25 billion (US$3.41 billion). This proposal includes a price of A$45 per share, representing a 25.1% premium over AUB's last closing price. The offer follows an earlier bid of A$43 per share, indicating EQT's strong interest in expanding its footprint in the Australian market. - read more
AIA Australia Unveils Innovative Member Insurance Portal AIA Australia Unveils Innovative Member Insurance Portal
08 Nov 2025: Paige Estritori

AIA Australia has launched a cutting-edge Member Insurance Portal designed to provide a streamlined insurance experience for group insurance customers. This digital initiative aims to optimize the claims process, offering members the ability to track their claims throughout the entire lifecycle, thereby ensuring transparency and simplicity during potentially challenging times. - read more
Australian Insurers Achieve $6.1 Billion Profit Amid Rising Premiums Australian Insurers Achieve $6.1 Billion Profit Amid Rising Premiums
08 Nov 2025: Paige Estritori

Australia's insurance industry has reported an after-tax profit of $6.1 billion for the year 2024, a figure that is three times higher than the five-year average of $2 billion. This substantial increase is attributed to significant premium hikes and a relatively benign year for natural disasters. - read more
Inattention and Speed Identified as Key Factors in Australian Truck Crashes Inattention and Speed Identified as Key Factors in Australian Truck Crashes
06 Nov 2025: Paige Estritori

The National Truck Accident Research Centre (NTARC) has released its 2025 Major Incident Investigation Report, shedding light on the primary human factors contributing to significant truck crashes across Australia. The findings emphasise the critical roles of inattention, distraction, and inappropriate speed in these incidents, underscoring the necessity for targeted safety interventions within the transport industry. - read more
QBE and Sure Insurance Forge New Home Cover Partnership QBE and Sure Insurance Forge New Home Cover Partnership
06 Nov 2025: Paige Estritori

QBE Australia Pacific has recently entered into a strategic partnership with Sure Insurance, aiming to bolster its broker-distributed householders cover. This collaboration signifies a concerted effort to provide more comprehensive and accessible home insurance solutions tailored to the diverse needs of Australian homeowners. - read more
Blue Zebra Enhances Insurance Offerings with New Underwriting Partnerships Blue Zebra Enhances Insurance Offerings with New Underwriting Partnerships
06 Nov 2025: Paige Estritori

Underwriting agency Blue Zebra has recently announced the establishment of new capacity arrangements for its home building and contents, landlord, and small to medium-sized enterprise (SME) package products. This strategic move is set to enhance the agency's ability to offer comprehensive and competitive insurance solutions tailored to the evolving needs of Australian homeowners and business operators. - read more
AIG Australia Penalised for Claims Handling Failures AIG Australia Penalised for Claims Handling Failures
06 Nov 2025: Paige Estritori

The Insurance Code Governance Committee has imposed a $30,000 penalty on AIG Australia for breaching its obligations related to claims handling. The insurer failed to inform customers about delays in processing their claims and neglected to advise them of their right to escalate complaints to the ombudsman. This regulatory action underscores the critical importance of transparency and communication in the insurance claims process. - read more
Climate Change Impacting Home Insurance Costs, IAG Reports Climate Change Impacting Home Insurance Costs, IAG Reports
05 Nov 2025: Paige Estritori

Insurance Australia Group (IAG), a leading insurer in Australia, has highlighted the significant impact of climate change on the cost of home insurance. The company reports that the increasing frequency and severity of weather events are contributing to rising premiums for homeowners. - read more
Suncorp's Financial Growth and Share Buyback: What It Means for Policyholders Suncorp's Financial Growth and Share Buyback: What It Means for Policyholders
05 Nov 2025: Paige Estritori

Suncorp, a prominent Australian insurer, has reported an 8% increase in full-year cash earnings, reaching A$1.49 billion for the year ending June 30, 2025. This performance surpasses analyst expectations and is attributed to improved insurance margins and favorable natural hazard costs. - read more
IAG's Profit Growth and Its Implications for Australian Tradespeople IAG's Profit Growth and Its Implications for Australian Tradespeople
05 Nov 2025: Paige Estritori

Insurance Australia Group (IAG) has reported a significant increase in annual cash earnings for the fiscal year ending June 30, 2025, reaching A$1.17 billion. This growth is primarily driven by an 8% rise in net earned premiums to A$9.98 billion and lower-than-expected natural peril costs. - read more
Markel's New Professional Indemnity Insurance Solutions for Australian Professionals Markel's New Professional Indemnity Insurance Solutions for Australian Professionals
05 Nov 2025: Paige Estritori

In April 2024, Markel, a US-based specialty insurer, unveiled a suite of professional indemnity (PI) insurance products specifically designed for the Australian market. These offerings cater to professionals in accounting, construction, design and construct, insurance, media, and miscellaneous sectors. - read more
APRA's Regulatory Action on Pacific International Insurance's Binder Management APRA's Regulatory Action on Pacific International Insurance's Binder Management
05 Nov 2025: Paige Estritori

In November 2024, the Australian Prudential Regulation Authority (APRA) directed Pacific International Insurance to increase its prudential capital requirement by $10 million. This action was taken in response to identified deficiencies in the insurer's oversight and control of its binder arrangements with intermediary partners. - read more
Australian Small Businesses Advocate for Insurance Premium Reforms Australian Small Businesses Advocate for Insurance Premium Reforms
05 Nov 2025: Paige Estritori

In October 2025, the Australian Chamber of Commerce and Industry, in collaboration with the Insurance Council of Australia, released a report highlighting the significant challenges faced by small and medium-sized enterprises (SMEs) due to soaring insurance premiums. The report emphasizes that many SMEs are compelled to either forgo insurance coverage or reduce their policies to remain financially viable in a challenging economic environment. - read more
Consumer Credit Insurance Decision: AFCA Rules Against Refund Request Consumer Credit Insurance Decision: AFCA Rules Against Refund Request
04 Nov 2025: Paige Estritori

An Australian man seeking a refund on his paid premium for consumer credit insurance (CCI) has been denied by the Australian Financial Complaints Authority (AFCA). The man argued the insurance was mis-sold to him, claiming he was led to believe the coverage was essential when he acquired it with his credit card in 2015. - read more
Qantas Travel Insurance Honoured with Mozo Experts Choice Award 2024 Qantas Travel Insurance Honoured with Mozo Experts Choice Award 2024
04 Nov 2025: Paige Estritori

Qantas Travel Insurance has been recognised in the 2024 Mozo Experts Choice Awards for Travel Insurance, showcasing its exceptional value for their Annual Multi Trip Travel Insurance policy. - read more
SCTI Highlights Top 10 Costliest Travel Insurance Claims of 2024 SCTI Highlights Top 10 Costliest Travel Insurance Claims of 2024
04 Nov 2025: Paige Estritori

Southern Cross Travel Insurance (SCTI) has unveiled its top 10 most expensive international travel claims made by Australian travellers in 2024, shedding light on the significant financial risks associated with unforeseen incidents abroad. - read more
Significant Rise in Home Insurance Premiums Poses Challenges for Australian Homeowners and Lenders Significant Rise in Home Insurance Premiums Poses Challenges for Australian Homeowners and Lenders
04 Nov 2025: Paige Estritori

Recent reports indicate that Australian home and contents insurance premiums have surged by up to 65% over the past five years. This substantial increase is outpacing both general consumer inflation and wage growth, leading to significant financial strain for homeowners and potential risks for mortgage lenders. - read more
Insurance Council Advocates for Strata Law Reforms to Mitigate Rising Premiums and Building Defects Insurance Council Advocates for Strata Law Reforms to Mitigate Rising Premiums and Building Defects
04 Nov 2025: Paige Estritori

The Insurance Council of Australia (ICA) has called for urgent reforms to strata laws in response to escalating insurance premiums and the financial burden of building defects, which are costing residential apartment owners approximately $1.3 billion annually. - read more
Upcover Unveils Comprehensive Management Liability Insurance for Australian SMEs Upcover Unveils Comprehensive Management Liability Insurance for Australian SMEs
04 Nov 2025: Paige Estritori

Sydney-based insurtech company Upcover has launched a new management liability insurance product designed specifically for small and medium-sized enterprises (SMEs) and sole traders across Australia. This offering aims to provide comprehensive protection against a range of risks, including employment disputes, official investigations, tax audits, financial crimes, statutory liabilities, and allegations of legal breaches. - read more
APRA Data Shows Stability in Professional Indemnity Claims Amid Declining Premiums APRA Data Shows Stability in Professional Indemnity Claims Amid Declining Premiums
04 Nov 2025: Paige Estritori

The Australian Prudential Regulation Authority (APRA) has released its latest National Claims and Policies Database (NCPD) report, providing insights into the professional indemnity (PI) insurance sector. The data indicates that while claims payments for non-facility business remained relatively stable at $1.111 billion in the 2022 underwriting year, there was a notable 6% decline in gross written premiums, which fell to $2.775 billion from the previous year's $2.954 billion. - read more
Rising Insurance Premiums Challenge Australian Hospitality Sector Rising Insurance Premiums Challenge Australian Hospitality Sector
04 Nov 2025: Paige Estritori

Australian hospitality businesses are currently facing significant financial challenges due to escalating insurance premiums. This trend is placing additional strain on an industry already contending with various economic pressures. - read more
Surcharges: A Vital Tool for Hospitality Businesses Facing Rising Costs Surcharges: A Vital Tool for Hospitality Businesses Facing Rising Costs
04 Nov 2025: Paige Estritori

In the face of escalating operational expenses, the Restaurant & Catering Association (R&CA) has expressed strong support for the use of surcharges by cafés, restaurants, and catering businesses, particularly on weekends and public holidays. - read more
Emerging Trends: The Rise of Chain Restaurants in Australia's Hospitality Sector Emerging Trends: The Rise of Chain Restaurants in Australia's Hospitality Sector
04 Nov 2025: Paige Estritori

Australia's hospitality landscape is undergoing a notable transformation, with a discernible shift from independently owned establishments towards chain operations. For the first time in recent history, the proportion of chain restaurants in Australia has grown from 23% to 24%, signaling a pivotal moment for the market. - read more
Brisbane Hailstorm Sees Over 16,000 Insurance Claims Brisbane Hailstorm Sees Over 16,000 Insurance Claims
03 Nov 2025: Paige Estritori

The recent hailstorm in Brisbane has triggered more than 16,000 insurance claims, marking it as a significant event as declared by the Insurance Council of Australia. Both Suncorp and IAG have experienced a substantial influx of claims following the severe weather conditions that affected parts of Queensland and Victoria over the weekend. - read more
Queensland Strata Owners Advised to Leverage New Premium Reduction Programs Queensland Strata Owners Advised to Leverage New Premium Reduction Programs
03 Nov 2025: Paige Estritori

Strata property owners in North and Central Queensland are being encouraged to take advantage of newly introduced federal and state initiatives designed to reduce insurance premiums and enhance cyclone resilience. These programs offer financial incentives for property upgrades that can lead to significant savings on insurance costs. - read more
Strata Futures Report Proposes National Task Force for Industry Overhaul Strata Futures Report Proposes National Task Force for Industry Overhaul
03 Nov 2025: Paige Estritori

The recently released Strata Futures Report has put forth a comprehensive set of 64 recommendations aimed at transforming Australia's strata industry. Central to these proposals is the establishment of a national task force, co-funded by the government, to spearhead reforms and foster a high-performing, transparent, and sustainable model of property ownership and governance. - read more
NSW Strata Managers Set to Eliminate Insurance Commissions by 2026 NSW Strata Managers Set to Eliminate Insurance Commissions by 2026
03 Nov 2025: Paige Estritori

In a significant development for the strata management sector, the Strata Community Association New South Wales (SCA NSW) has announced a phased plan to eliminate insurance commissions for managing agents, commencing January 1, 2026. This initiative aims to bolster transparency and trust between strata managers and property owners. - read more
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