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 with Paige Estritori: life insurance reform looms with 85 recommendations for the Life Insurance Code; the General Insurance Code of Practice heads toward enforceability over a 24‑month transition; NSWs insurance levies keep pressure on premiums; and a probe flags missing pricing detail in renewal notices. Listeners are urged to compare policies, check renewals carefully, and seek broker support via InsuranceOnline.com.au.
Hello and welcome to Insurance Online News, Im Paige Estritori, and its Thursday, 2 July 2026.
First, life insurance standards are on the move. An independent review for the Council of Australian Life Insurers, or CALI, has delivered 85 recommendations to strengthen the Life Insurance Code of Practice. The big themes are fairer treatment for mental health, better support for vulnerable customers, and clearer claims and sales practices. If you hold life cover or are comparing options, check your policy terms for mental health and definitions, and consider fresh quotes with expert help so youre not paying for gaps you dont need.
Next up, general insurance is set for its first enforceable Code of Practice, known as the General Insurance Code of Practice or GICOP. The Insurance Council of Australia, or ICA, expects a 24‑month transition. Under the draft, key promises would be legally built into contracts, and claims left undecided after 12 months would be accepted automatically, with stronger support for vulnerable customers. For households and small businesses, that means clearer standards and timelines; keep records, read renewal letters closely, and compare cover so the policy fits your risks.
Meanwhile, New South Wales budget shows the state will collect about three billion dollars a year from insurance taxes and levies. The Emergency Services Levy, or ESL, adds about 18 per cent to a typical home premium and about 34 per cent to commercial property cover, on top of stamp duty. That pressure can tempt people to cut back cover. Before you do, shop around and talk to a broker about smarter ways to trim cost—like adjusting excesses—without drifting into underinsurance.
And a quick reminder from the Code Governance Committee: a recent probe found some renewal notices lacked clear pricing and payment details. If your renewal doesnt break down changes, ask your insurer—or get a broker to benchmark it. A couple of fast quotes can reveal if the jump is justified or if a better‑fit policy is available.
Thats the latest. For free quotes, easy comparisons, and Australia‑wide broker support, 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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Knowledgebase
Loss Ratio: The ratio of claims paid by an insurer to the premiums earned, used as a measure of profitability.
