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Insurance News

Rising Premiums Challenge Australian Insurers in 2026
Rising Premiums Challenge Australian Insurers in 2026
05 Apr 2026: Paige Estritori
In 2026, Australian insurers are grappling with significant challenges as premium affordability becomes a pressing concern. A recent survey by Gallagher Bassett highlights that 70% of insurers have reported increased claim costs and frequencies over the past year. This surge is largely attributed to escalating climate-related losses and inflationary pressures affecting materials and labour costs. - read more
Insurtech Australia Criticizes ASIC's Efforts to Spur Insurance Innovation
Insurtech Australia Criticizes ASIC's Efforts to Spur Insurance Innovation
28 Mar 2026: Paige Estritori
The Australian Securities and Investments Commission's (ASIC) Enhanced Regulatory Sandbox (ERS), introduced in 2020 to facilitate financial innovation, has been deemed ineffective in fostering advancements within the insurance sector. Insurtech Australia (IA) has expressed concerns that, despite ASIC's genuine efforts, the ERS has not significantly impacted the insurance industry or the insurtech ecosystem. ([insurancenews.com.au](https://www.insurancenews.com.au/insurtech/asic-s-insurance-innovation-initiatives-ineffective?utm_source=openai)) - read more
Australian Commercial Insurance Rates Experience Significant Decline
Australian Commercial Insurance Rates Experience Significant Decline
28 Mar 2026: Paige Estritori
The Australian commercial insurance market has witnessed a notable decline in premium rates, with a 12% drop recorded in the fourth quarter of 2025. This marks the largest decrease among the eight regions monitored by Marsh Risk's Global Insurance Market Index. ([insurancenews.com.au](https://www.insurancenews.com.au/the-broker/australia-leads-way-as-commercial-rate-slide-continues?utm_source=openai)) - read more
ICA Advocates for Overhaul of Civil Liability Laws Amid Rising Insurance Premiums
ICA Advocates for Overhaul of Civil Liability Laws Amid Rising Insurance Premiums
20 Mar 2026: Paige Estritori
The Insurance Council of Australia (ICA) has recently released a white paper highlighting the urgent need for reforms to state and territory civil liability laws, which have remained largely unchanged for nearly 25 years. These outdated laws are contributing to significant increases in public liability insurance premiums, affecting a wide range of businesses across the nation. - read more
Severe Hailstorms Lead to Sharp Decline in Insurance Industry Profits
Severe Hailstorms Lead to Sharp Decline in Insurance Industry Profits
20 Mar 2026: Paige Estritori
The Australian insurance industry has experienced a notable decline in profits during the December quarter, primarily due to severe hailstorms that occurred in October and November. According to data from the Australian Prudential Regulation Authority (APRA), the general insurance sector reported a net profit of $132 million for the quarter, bringing the annual total to approximately $5.8 billion. This marks a decrease from the $6.8 billion profit recorded in 2024. - read more
Business Insurance Articles

The Role of Liability Insurance in Managing Contractor and Supplier Risks
The Role of Liability Insurance in Managing Contractor and Supplier Risks
Engaging with contractors and suppliers is an integral facet of many business operations, fostering growth and expansion. However, with this collaboration comes inherent risks that can impact a business financially and legally, should any unexpected incidents arise. It is here that liability insurance steps in as a cornerstone of risk management, safeguarding businesses from potential pitfalls associated with these partnerships. - read more
The Essential Role of Insurance in Protecting Your Small Business
The Essential Role of Insurance in Protecting Your Small Business
Running a small business in Australia comes with its own set of unique challenges. From managing cash flow to dealing with unexpected setbacks, the road to success can often be bumpy. Many small business owners find themselves constantly adapting to changing market conditions, customer demands, and economic pressures. - read more
Common Public Liability Risks You Might Be Overlooking
Common Public Liability Risks You Might Be Overlooking
Public liability insurance is a critical form of coverage that protects businesses against claims of injury or damage caused by their operations to members of the public. Its primary purpose is to cover legal costs and compensation payments, which can otherwise cripple a business financially. - read more
Essential Public Liability Coverage for Gym and Fitness Center Owners
Essential Public Liability Coverage for Gym and Fitness Center Owners
Running a gym or fitness center comes with unique responsibilities, especially when it comes to providing a safe environment for clients. In this dynamic space, where individuals engage in activities that may pose risks, it is imperative for gym owners to understand the importance of public liability insurance. This type of coverage is a cornerstone for safeguarding your business against claims arising from accidental injuries or property damage to third parties. - read more
Understanding Public Liability Insurance for IT Consultants: Risks and Mitigation
Understanding Public Liability Insurance for IT Consultants: Risks and Mitigation
Public Liability Insurance acts as a shield for businesses, and for IT consultants, it's a safeguard against the unforeseen legal costs and compensation payments arising from third-party claims. As professionals who offer expert advice and services, IT consultants face unique risks that can lead to liability claims. Having public liability insurance not only provides a financial safety net but also serves as a testament to the consultant's responsibility and professionalism. - read more

Knowledgebase
Insurance Deductible:
the amount that an insured is required to contribute toward an insurance claim as stipulated in an insurance policy. Otherwise known as the "policy excess".