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:
Paige Estritori covers four developments for Australian consumers and SMEs: proposed NSW changes to strata insurance commissions and the shift to fee‑for‑service; APRAs climate stress test warning more homes may become uninsured or underinsured; the Insurance Councils budget push for disaster‑mitigation funding and short‑term affordability relief; and tighter product‑safety enforcement despite a small fall in recalls. Listeners are urged to review cover, compare options, update sums insured, and ensure liability and recall protections are appropriate, with help from independent brokers via insuranceonline.com.au.
Hello and welcome to Insurance Online News, Im Paige Estritori, and its Thursday, 26 March 2026.
First, New South Wales is weighing big changes to how strata insurance is paid for. A state inquiry has recommended banning commissions for strata managers and restricting commissions for intermediaries, with a three‑year transition. The aim is more transparency, but it could shift many buildings to fee‑for‑service and change how committees access advice. If youre on an owners corporation, ask your manager and broker what services would be included under fees, get comparisons early, and make sure your sums insured and liability settings still stack up.
Next up, a prudential stress test from APRA — thats the Australian Prudential Regulation Authority — suggests up to about one million homes could be uninsured or underinsured by 2050 if climate risks keep rising. Losses from storms and hail are projected to climb, and flood risk affects more than half of homes today, with rural areas most exposed. For households and small businesses, that means reviewing cover now: check flood, storm and hail, update rebuild costs, and compare options so youre not caught short by underinsurance.
Meanwhile, the Insurance Council says the May budget is likely to be tight but is pushing for Disaster Ready Fund reforms and a short‑term scheme to ease affordability for high‑risk homeowners. Nothing is locked in yet, but policy settings could change how risk is shared and what support is available. Dont wait on the budget to act; keep your policies current, explore cover choices, and ask a broker about practical mitigation that can help keep premiums in check.
And for product makers and importers, recalls dipped slightly last year but regulators are leaning in with tougher rules, including updated recall procedures in health and consumer tech. The takeaway for SMEs is simple: keep your product safety and documentation tight, and check that your public and products liability — and any recall extensions — are fit for purpose. Build a basic recall plan so you can respond quickly if something goes wrong.
Thats it for this week. For fast, free personal and business insurance quotes, easy comparisons, and access to independent brokers nationwide, head to insuranceonline.com.au. Im Paige Estritori — thanks for listening, and Ill see 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.
Business interruption insurance is a policy that covers the loss of income a business suffers after a disaster. While property insurance covers the physical damage to a business, business interruption insurance covers the profits that are lost. It ensures that a company's revenue stream can continue even if its operations are halted due to unexpected events. - read more
Operating a hotel is not just about offering great services and hospitality. It also involves understanding and managing various types of liability risks. Liability in the hospitality industry can arise from numerous situations, and being unaware of these can potentially expose hotel operators to significant legal issues and financial losses. - read more
Running a hotel is a complex operation that involves many moving parts. From welcoming guests to maintaining the property, there's a lot to manage. One critical aspect that often flies under the radar is hotel insurance. This form of insurance plays a crucial role in safeguarding your business from unforeseen events that could disrupt operations or impact your financial health. Whether it's damage from natural disasters or unexpected liabilities, insurance is your safety net. - read more
Running a café is a rewarding yet challenging endeavor. With the hospitality industry being fast-paced and ever-changing, café owners often face unique financial challenges. Operating in an industry that is both physically demanding and unpredictable can sometimes lead to unforeseen circumstances that affect the stability and success of your business. - read more
With an ever-expanding digital landscape, the importance of robust cybersecurity measures in the hospitality industry cannot be overstated. As technology continues to evolve, so too do the threats that target the vulnerabilities within hotel systems. This has made cybersecurity a top priority for hotel operators. - read more
In 2026, Australian insurers are prioritizing premium affordability and insurability as they confront escalating claims costs, climate-related losses, and technology-enabled fraud. According to Gallagher Bassett's 2026 global claims study, these factors are significantly influencing pricing, underwriting, and capital allocation decisions. - read more
Medibank Private, one of Australia's leading health insurers, has reported a significant increase in its interim net profit, coinciding with a notable rise in health insurance premiums across the country. This development has sparked discussions about the affordability and value of private health insurance for Australian consumers. - read more
In a significant move to improve the claims process for mental health-related income protection, Australian life insurer TAL has announced the development of a new digital platform named 'Pathways.' This initiative is a collaborative effort involving the Digital Health Cooperative Research Centre, the University of Sydney, and Workcom, aiming to streamline and enhance the experience for policyholders navigating mental health claims. - read more
The Australian Securities and Investments Commission (ASIC) has commenced legal proceedings against Auto & General, the parent company of Budget Direct, alleging that the insurer misled customers regarding promised discounts, resulting in overcharged premiums over several years. - read more
The Australian insurance industry is currently navigating a complex landscape marked by escalating claims and mounting premium pressures. Recent data from the Australian Prudential Regulation Authority (APRA) reveals a significant downturn in the sector's profitability, primarily attributed to severe weather events and broader economic challenges. - read more
