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:
This week: calls for civil liability reform and fairer procurement rules as a federal inquiry probes small business insurance; cyber insurance remains buyer‑friendly but may tighten as AI‑enabled threats grow; disaster assistance follows major flooding in Katherine with Queensland on alert; and an AFCA ruling highlights consumers rights in disputed flood claims. Practical tips focus on right‑sizing SME cover, locking in cyber terms while improving controls, checking flood definitions and sums insured, and using brokers to compare options and support claims.
Hello and welcome to Insurance Online News with Paige Estritori for Thursday, 12 March 2026.
First up, small business insurance is under the microscope. A federal inquiry is hearing that outdated civil liability laws, legal costs and red tape are pushing up premiums for SMEs, according to the Insurance Council of Australia. Outdoor recreation and tourism groups also told the inquiry that blunt underwriting and excessive liability limits are squeezing viable operators. If you run a business, nows a smart time to review your public liability and professional indemnity needs, push back on contract clauses that force unnecessary cover, and compare options with an independent broker so youre not over‑insuring.
Next up, cyber insurance still leans in favour of buyers, but the tide is starting to turn. Brokers report competitive pricing and broad cover remain available, yet AI‑enabled scams and ransomware are rising and some terms are tightening for higher‑risk sectors. The practical move is to lock in cover while conditions are friendly, and make sure your controls—like multi‑factor authentication, back‑ups and staff training—are in place, because stronger security can help you access better terms when you compare policies online.
Meanwhile, major flooding has hit Katherine in the Northern Territory, with disaster assistance activated, and parts of Queensland on alert after heavy monsoonal rain, the Bureau of Meteorology says. If youre in or near affected areas, check how your policy defines flood, confirm waiting periods, and make sure your building, contents or business interruption sums insured are realistic. Keep photos and receipts handy, and contact your insurer or broker early to streamline any claim.
And a reminder about claims rights. The Australian Financial Complaints Authority, or AFCA, has ordered an insurer to pay more than eighty‑nine thousand dollars to a car owner after rejecting a flood damage claim based on disputed water testing. The decision shows clear records and a consistent account can carry weight if a claim is knocked back. If something doesnt add up, seek help and, if needed, escalate—support through a broker can make that process far less stressful.
Thats it for this week. For fast, free personal and business insurance quotes, easy comparisons, and expert support across Australia, head to insuranceonline.com.au.
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, resources and information.
Running a coffee shop involves more than simply brewing the perfect cup of coffee. It requires a sound understanding of the business's risks and a strategic approach to managing them. Choosing the right insurance coverage is crucial for safeguarding your investment. - read more
Business interruption insurance is a specialized type of coverage designed to protect businesses from financial losses due to unavoidable disruptions. Whether it's a natural disaster, a burst pipe, or a local emergency, this insurance helps ensure that the business can continue to meet its financial obligations during downtime. - read more
Running a cafe can be a dream come true, but it's not without its challenges. One of the most critical aspects of managing a cafe is ensuring that it's adequately insured. Cafe owners in Australia face various risks, from equipment breakdowns to customer accidents. Without proper insurance coverage, these incidents can translate into significant financial losses. Insurance acts as a safety net, offering protection against unforeseen events and ensuring the business can recover swiftly. - read more
Running a cafe can be incredibly rewarding, but it comes with its own set of challenges. One of these challenges is managing the various risks that can arise, especially when dealing with the public daily. This is where public liability insurance becomes an essential part of your business toolkit. It's designed to protect your cafe from the financial fallout of accidents that can occur on your premises, which is crucial for safeguarding your business’s financial health. - read more
Running a cafe is more than just a business; it’s a passion for many. However, for cafe owners, the risk of an injury or illness that could interrupt their ability to work is a genuine concern. Disability income protection is crucial as it provides financial security if you're unable to earn an income due to health issues. - read more
Recent research has unveiled a concerning trend: 14% of Australian travellers embark on international journeys without any form of travel insurance. This statistic is even more alarming among younger travellers under 30, with nearly one in four opting to travel uninsured. Such decisions expose individuals to significant financial risks, especially when unforeseen events occur abroad. - read more
Insurance Australia Group (IAG) has reported a significant 91% increase in net profit for the first half of the 2025 financial year, reaching $778 million. This surge is largely attributed to favourable weather conditions and a reduction in claims. Despite this positive financial performance, IAG's CEO, Nick Hawkins, has indicated that insurance premiums are expected to continue rising, albeit at a slower pace than in previous years. - read more
The Australian Prudential Regulation Authority (APRA) has released its latest bi-annual report on intermediated general insurance, providing insights into market activity for the six months ending June 2025. The data indicates a stable performance among general insurance intermediaries, with total premiums invoiced through intermediaries reaching $21.5 billion. Of this, $17.6 billion was placed with APRA-authorized general insurers, $2.6 billion with Lloyd’s underwriters, and $1.3 billion with unauthorized foreign insurers. - read more
CHU, Australia's leading strata insurance underwriting agency, has recently launched an upgraded residential strata insurance policy aimed at providing more comprehensive protection for property owners and strata communities. This initiative underscores CHU's commitment to evolving with the needs of its customers by simplifying insurance processes and enhancing community resilience. - read more
The Insurance Council of Australia (ICA) has recently called for significant reforms to Victoria's strata legislation, highlighting a direct correlation between inadequate governance and escalating insurance premiums for residents. With approximately one in five Victorians residing in strata-titled properties, the need for effective management and oversight has become increasingly critical. - read more
