Welcome to the Insurance Online News podcast with your host, Paige Estritori, where we deliver the latest and most significant news from the world of insurance in Australia. Our dedicated team works tirelessly to bring you the freshest updates, focusing on the stories that matter the most to both Australian businesses and individual consumers over the past week.
Through meticulous research, we transform these developments into original content that not only keeps you informed but also offers deep insights into the insurance landscape as it stands today. Our podcast distills these crucial updates into a format that's both succinct and captivating. For professionals within the insurance realm or personal consumers keen on keeping up with insurance trends, look no further. Paige Estritori brings you all the essential information daily, making our podcast the ultimate destination for trustworthy and impactful insurance news.
This Week:
Paige Estritori covers four insurance stories for Australia this week: softening commercial premiums offering savings and better terms for many business lines; spring storm losses now over $4 billion with Octobers storms at about $1.5 billion, prompting checks on sums insured and mitigation; Sarah Court to chair ASIC, signalling ongoing enforcement focus on scams, disclosures and claims; and an AFCA ruling confirming termite damage linked to long‑term moisture isnt covered, reinforcing maintenance and prompt reporting. The episode encourages listeners to compare cover and seek broker support at insuranceonline.com.au.
Hello and welcome to Insurance Online News, Im Paige Estritori, and its Thursday, 5 February 2026.
First up, commercial insurance prices eased late last year. Brokers report premiums fell by as much as about twenty per cent in the December quarter as market capacity improved and large losses stayed relatively low. Property, directors and officers, cyber and liability saw more competition, though high natural‑catastrophe exposures still face tougher terms. If you run a business, this is a good moment to compare cover, review limits and retentions, and see if broader wording is now affordable.
Meanwhile, Octobers east‑coast storms are now estimated to cost about $1.5 billion, and springs severe storms together have pushed insured payouts past $4 billion. Rising exposures from cladding, roofing and more rooftop solar are adding to damage. For households and SMEs, check that sums insured are up to date, confirm hail and flood options, and consider simple mitigation like roof and gutter maintenance to keep claims smooth.
Regulatory news next. Sarah Court will become chair of ASIC, the Australian Securities and Investments Commission, when Joe Longos term ends in May. She has led major enforcement on misconduct and says priorities include scams, small businesses, climate disclosures and greenwashing. Expect continued scrutiny of pricing promises, product design and claims handling. Keep records tidy and disclosure clear, and lean on a broker if a dispute arises.
And an AFCA decision is a timely reminder on claims. AFCA, the Australian Financial Complaints Authority, rejected an attempt to link termite damage to an older storm claim, finding the loss was due to long‑term moisture and not the insured event. Most policies exclude gradual damage and pests. Keep up maintenance, report issues promptly, and get expert reports early so your claim rests on solid evidence.
Thats the wrap for this week. For fast, free quotes and Australia‑wide broker support, head to insuranceonline.com.au. Im Paige Estritori—thanks for listening, and talk to you next week.
The information on this website is general in nature and does not take into account your objectives, financial situation, or needs. Consider seeking personal advice from a licensed adviser before acting on any information.
Follow us!
We are a proud member of the Financial Services Online network!
Connect with us on your favourite social media platform for the latest financial news, views, tips, tricks, resources and information.
Welcome to our discussion on basic health insurance cover, a topic that is crucial yet often overlooked in the hustle and bustle of everyday life. Navigating the world of health insurance can be daunting, but understanding your options is vital for peace of mind and financial stability. - read more
In the realm of securing one’s health and wellbeing, navigating the Australian health insurance landscape can be as critical as the care received. It stands as a complex tapestry, woven with policies, premiums, and government incentives, affecting individuals and families nationwide. - read more
Choosing the right family health insurance can feel like navigating a maze. With so many options and factors to consider, it's no wonder many Australians find the process overwhelming. The stakes are high, as the wrong choice could not only impact your family's access to healthcare but also strain your finances. - read more
Finding affordable health insurance can be a daunting task, particularly in a landscape as diverse as Australia’s. With a myriad of options available, it's crucial to understand the financial support mechanisms in place that can ease the burden of healthcare costs. One such mechanism is the health fund rebate, a key feature of the Australian health insurance system designed to make healthcare more accessible. - read more
Exploring the realm of health insurance can be like navigating a labyrinth, replete with complex terms and varying policies. Among these, health fund rebates emerge as a crucial element, particularly for young Australians embarking on their journey of health coverage. Fund rebates can significantly lighten the financial burden, transforming the quest for health insurance from daunting to empowering. - read more
Rural Affinity has renewed its partnership with Munich Re Specialty - Global Markets under a new five-year agreement, continuing a collaboration that began in 2006. This renewed alliance aims to support Rural Affinity's efforts to expand its agricultural insurance offerings across Australia and introduce new products leveraging technology and innovation. - read more
The Australian Financial Complaints Authority (AFCA) has recently ruled in favour of a truck owner whose insurance claim was initially denied following an engine overheating incident. This decision underscores the complexities surrounding insurance claims related to driver negligence and mechanical failures. - read more
The Australian Financial Complaints Authority (AFCA) has recently upheld an insurer's decision to deny a truck theft claim, citing misrepresentation of the insured's insurance history. This ruling highlights the critical importance of accurate disclosure when obtaining insurance coverage. - read more
The Australian Financial Complaints Authority (AFCA) has recently ruled in favour of a freight company in a dispute over the disclosure of transporting dangerous goods. This decision provides valuable insights into the obligations of transport companies regarding insurance disclosures. - read more
Recent findings from PwC's Insurance Banana Skins Survey highlight a concerning trend: Australian insurers are trailing their global counterparts in risk preparedness. The survey, which gathered insights from 698 insurance executives across 42 territories, indicates that Australian insurers scored 6.6% lower on the Preparedness Index compared to the global average. - read more
