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: a draft enforceable general insurance code proposes faster claim decisions, stronger consumer protections and consultation to 21 July. NSWs emergency services levy is forecast to climb, keeping pressure on premiums while reform is reviewed. APRA warns quantum and frontier AI risks are bringing cyber threats forward and urges immediate resilience steps. Victoria advances regulations for 10‑year, first‑resort apartment defects insurance after new legislation. Listeners are urged to review cover, check levies on invoices, and compare policies with broker support at insuranceonline.com.au.
Hello and welcome to Insurance Online News with Paige Estritori, its Thursday, 25 June 2026.
First, Australias general insurance code is getting a major overhaul. The industry has released a draft code that, for the first time, would be legally enforceable in policies. It proposes automatic acceptance of home and motor claims if no decision is made after 12 months, tighter standards for expert reports, broader support for vulnerable customers and stronger family‑violence protections, with consultation open until July 21. For households and small businesses, this points to clearer timelines and fewer dead ends on claims. If your cover is up for renewal, use this momentum to compare policies and service standards side by side.
Next up, New South Wales. The state budget shows emergency services levy collections are set to top about one and a half billion dollars next year, with estimates higher than last years projections. Business groups say the levy can add around a quarter to general business insurance premiums, and the governments inquiry into reform is due to report by November 18. If youre in NSW, check your invoice for ESL and duties; knowing those line items helps you compare total costs accurately and avoid underinsuring.
Meanwhile, the prudential regulator APRA says the timeline to so‑called Q‑Day, when quantum computing can break todays encryption, may be moving closer, and frontier AI is accelerating cyber risk. Boards are being pressed to map where they rely on cryptography across systems and suppliers, and to lift controls now, not later. For SMEs and professionals, this is a reminder to review cyber cover terms, incident response and backups, and to compare policies that align with your actual data and continuity risks.
And in Victoria, the government is pushing ahead with regulations for decennial, first‑resort insurance on apartment building defects after enabling legislation passed the upper house last week. Its modelled on NSW and would allow owners corporations to claim for serious defects for up to 10 years without needing to prove who was at fault, with an interim developer bond scheme slated for next year. Buyers, strata committees and developers should watch the rollout timetable and factor defects protection into contracts and insurance planning.
Thats it for this week. For fast, free quotes and expert broker support to compare personal and business insurance, head to insuranceonline.com.au. Im Paige Estritori—thanks for listening, and Ill catch 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.
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In a significant development for New South Wales (NSW) businesses, the state government has announced a temporary freeze on workers' compensation premium rates for the 2026-27 and 2027-28 financial years. This decision comes after a series of annual increases totaling 24% over the past three years, which had placed considerable financial strain on employers across various sectors. - read more
The Australian Prudential Regulation Authority (APRA) has released a comprehensive report emphasizing the urgent need for proactive measures to mitigate the escalating risks associated with extreme weather events. The Insurance Climate Vulnerability Assessment (ICVA) serves as a stress test, highlighting the potential financial and operational impacts of climate-related hazards on the insurance industry and the broader community. - read more
The Australian Reinsurance Pool Corporation (ARPC) has announced revised premium rates for its Cyclone Reinsurance Pool, set to take effect on April 1, 2026. A notable feature of these revisions is the introduction of premium discounts for small and medium-sized enterprises (SMEs) that have undertaken specific risk mitigation activities. - read more
The Australian commercial insurance market has experienced a notable softening throughout the first half of 2026, characterized by competitive pricing and increased insurer capacity. This trend is largely attributed to improved insurer profitability post-COVID-19, stabilized reinsurance conditions, and a global capital surplus intensifying competition. - read more
In a significant move to bolster its financial resilience, Suncorp has secured a comprehensive five-year reinsurance agreement, effective from June 30, 2026. This arrangement provides the insurer with $800 million in annual protection, culminating in a total coverage of $2.4 billion over the duration of the contract. - read more
In the bustling world of hospitality, restaurant owners face a unique set of challenges that can impact their financial stability. From unexpected kitchen mishaps to customer accidents, understanding the unique risks in the hospitality industry is crucial. These risks can lead to significant financial burdens if not properly managed. - read more
Running a restaurant involves navigating a myriad of potential liabilities. From food safety issues to customer injuries on premises, the risks are numerous. In recent years, liability concerns have become even more pressing in the restaurant industry, as businesses face strict regulations and the potential for costly litigation. - read more
Running a restaurant in Australia is both exciting and challenging. From crafting delightful dishes to ensuring an excellent dining experience, restaurant owners juggle multiple responsibilities daily. Amidst all these, securing adequate insurance coverage often takes a backseat, though it's crucial for the health of the business. - read more
Running a restaurant in Australia is exciting and full of potential, but it's not without its legal challenges. From compliance with food safety standards to managing employee relations, restaurant owners must navigate a complex web of regulations and potential legal issues. Issues such as slip and fall accidents, supplier disputes, and licensing can all pose significant risks. - read more
Running a restaurant in Australia comes with its own set of unique challenges and risks. From busy kitchens to bustling dining areas, every corner of your establishment holds potential liability issues. Understanding these risks and how they can affect your business is crucial for safeguarding your investment. - read more
Knowledgebase
Occupational Hazard: A risk associated with the nature of a particular occupation, which may affect insurance premiums.
