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: Canberra rules out price caps and pushes risk reduction to tackle insurance affordability. The Insurance Council calls for keeping cover available in high‑risk areas and partnering with government. S&P Global Ratings sees insurer earnings remaining solid, implying potential moderation in premium increases rather than cuts. Cyber risk remains intense, with average business losses around $80k and downtime, not ransoms, driving costs; SMEs should ensure cyber policies include business interruption and incident response. Listeners are urged to document mitigation, review cover and compare policies through Insurance Online.
Hello and welcome to Insurance Online News with me, Paige Estritori, for Wednesday 15 October 2025.
First up, the federal government has signalled how its thinking about affordability. The financial services minister says he wont back price caps, and instead wants a holistic approach that prioritises risk reduction, better customer experience and planning decisions that keep people out of harms way. For you, that means mitigation matters: if youve improved your property or business risk, make sure your insurer or broker knows, and compare policies to see who recognises it in pricing and terms.
Meanwhile, the Insurance Council of Australia, or ICA, says the industrys social licence requires cover to remain available even in high‑risk areas, and its ready to work with governments on practical solutions. If you live or operate in a flood‑ or cyclone‑exposed region, document your risk‑proofing and shop around—some insurers now price more precisely by location and mitigation.
On market conditions, S&P Global Ratings expects general insurers to post solid to strong earnings into next year, helped by earlier premium increases and efficiency gains, provided we avoid major catastrophes. That doesnt mean prices fall, but it could mean slower rises than the past couple of years. Its a good moment to review sums insured, tweak excesses to suit cashflow, and compare features as well as price so you dont underinsure.
Cyber is back in the spotlight. Australias cyber intelligence agency, the Australian Signals Directorate, says financial and insurance services reported the most incidents outside government last year, with average losses for businesses around eighty thousand dollars and more for larger firms. A new local claims snapshot shows the biggest cost driver isnt the ransom; its downtime—lost revenue while systems are offline—and ransoms are paid in only a small minority of cases. If youre an SME, make sure your cyber policy includes business interruption cover and an incident‑response team, train staff on email scams, and test backups. Quotes are quick to obtain and can be tailored to your size and risk.
Thats the latest for this week. For fast, free personal and business insurance quotes with expert broker support, head to insuranceonline.com.au and get your free quote and expert assessment now.
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