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: small businesses tell a federal inquiry that insurance premiums are a “real killer.” Market conditions ease, with many commercial lines down about 11–20% in the March quarter while motor edges up. NSW floats replacing the emergency services levy on insurance with a property-based charge, with submissions due 19 June. The cyclone reinsurance pool now spans about 3.2 million properties, including over 100,000 SMEs. Listeners are urged to compare policies, use brokers, and check eligibility for pool-backed pricing.
Hello and welcome to Insurance Online News, Im Paige Estritori, and its Thursday, 7 May 2026.
First up, Canberras inquiry into insurance for small businesses, charities and community groups kicked off hearings this week. Witnesses told MPs premiums are a real killer, with some niche sectors seeing big hikes since 2020 and even struggling to find cover. If your business is feeling the squeeze, use a broker to shop the market, refresh your risk info, and compare policies side by side so youre not overpaying or underinsured.
Next up, a fresh market update shows commercial insurance prices in Australia eased in the March quarter. Property and several liability lines fell by about 11 to 20 per cent as capacity improved, while motor edged up on repair and parts costs. Directors and officers liability also continued to trend down, but cyber claims are a watch‑item. If renewal is approaching, its a good moment to review limits and deductibles and get multiple quotes to tailor cover to your actual risks.
Meanwhile in New South Wales, a discussion paper outlines options to replace the emergency services levy, or ESL, on insurance with a property‑based charge tied to land values. Submissions are open until 19 June. Lower‑value property owners could pay less under some options, and shifting away from an insurance‑only levy may reduce underinsurance. For households and businesses in NSW, build this potential change into budgets and keep policy schedules current.
And finally, the governments cyclone reinsurance pool, run by the Australian Reinsurance Pool Corporation, has expanded to cover about 3.2 million properties, including more than 100,000 small business premises. Average annual premiums per risk in the data were around $190 for home, $780 for strata and $240 for SMEs, with more insurers now participating. If you operate in cyclone‑prone areas, ask whether your policy is pool‑backed and check that pricing reflects your propertys actual risk and any mitigation youve done.
Thats all for this week. For fast, free personal and business insurance quotes and expert help comparing cover, 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.
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.
In a significant development for Australia's transport insurance sector, specialist underwriting agencies Insuret and ATL have announced their merger, creating a unified national platform dedicated to fleet and trucking insurance. This strategic alliance is poised to address the evolving and complex risk demands within the country's transport and mobility sectors. - read more
The Australian Competition and Consumer Commission (ACCC) has escalated its scrutiny of Insurance Australia Group's (IAG) proposed acquisition of Western Australia's RAC Insurance, initiating a second-phase review due to potential competition concerns. This development underscores the regulator's commitment to maintaining a competitive insurance market, particularly in regions where market concentration could adversely affect consumers. - read more
Recent analyses by Aon indicate a notable decline in Australian insurance prices during the first quarter of 2026, with reductions ranging from 11% to 20% across various sectors. This trend is attributed to abundant market capacity and broader coverage options. However, escalating global conflicts, particularly in the Middle East, are casting shadows over the market's future stability. - read more
HESTA, a prominent Australian superannuation fund, has unveiled a significant reduction in insurance fees, set to take effect from 1 July 2026. This initiative aims to make insurance coverage more accessible and affordable for its members, aligning with the fund's commitment to enhancing member benefits. - read more
Hostplus, a leading Australian superannuation fund, has announced the extension of its group insurance partnership with MetLife Australia until June 2028. This strategic move aims to elevate the servicing models across claims and underwriting, ultimately delivering stronger outcomes for Hostplus members. - read more
Professional indemnity insurance is designed to protect professionals from legal claims made against them due to mistakes or negligence in their work. It acts as a safeguard, covering legal costs and any damages awarded, ensuring that professionals can continue their practice without financial burden. - read more
As a consultant, safeguarding your professional reputation is crucial. One effective way to do this is through Professional Indemnity Insurance. But what exactly is it? In simple terms, professional indemnity insurance is designed to protect professionals against claims made by clients for professional negligence or breach of duty. It acts as a safety net, covering legal costs and any damages awarded, if a client alleges that you've made a mistake or left them shortchanged by your services. - read more
Professional indemnity insurance is a type of coverage specifically designed to protect consultants and business professionals from legal claims and financial losses due to errors or omissions in their services. It provides peace of mind for those who offer expert advice or services to clients. - read more
Risk management is a crucial concept that involves identifying, assessing, and prioritizing risks with the aim of minimizing their impact. For professionals, understanding and effectively managing risks can make the difference between stagnant growth and thriving success. But why is it particularly significant for those in Australia? - read more
In the fast-paced and dynamic landscape of today’s professional world, indemnity insurance has become a cornerstone of financial security for many Australian professionals. This type of insurance provides protection against claims of negligence or breach of duty made by clients or third parties. Without this safeguard, professionals may face substantial legal fees and damages that can significantly impact their financial stability. - read more
Knowledgebase
Deductible: The amount you must pay out-of-pocket for expenses before your insurance company covers the remaining costs.
