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 insurance stories for Australia this week: softening commercial premiums offering savings and better terms for many business lines; spring storm losses now over $4 billion with Octobers storms at about $1.5 billion, prompting checks on sums insured and mitigation; Sarah Court to chair ASIC, signalling ongoing enforcement focus on scams, disclosures and claims; and an AFCA ruling confirming termite damage linked to long‑term moisture isnt covered, reinforcing maintenance and prompt reporting. The episode encourages listeners to compare cover and seek broker support at insuranceonline.com.au.
Hello and welcome to Insurance Online News, Im Paige Estritori, and its Thursday, 5 February 2026.
First up, commercial insurance prices eased late last year. Brokers report premiums fell by as much as about twenty per cent in the December quarter as market capacity improved and large losses stayed relatively low. Property, directors and officers, cyber and liability saw more competition, though high natural‑catastrophe exposures still face tougher terms. If you run a business, this is a good moment to compare cover, review limits and retentions, and see if broader wording is now affordable.
Meanwhile, Octobers east‑coast storms are now estimated to cost about $1.5 billion, and springs severe storms together have pushed insured payouts past $4 billion. Rising exposures from cladding, roofing and more rooftop solar are adding to damage. For households and SMEs, check that sums insured are up to date, confirm hail and flood options, and consider simple mitigation like roof and gutter maintenance to keep claims smooth.
Regulatory news next. Sarah Court will become chair of ASIC, the Australian Securities and Investments Commission, when Joe Longos term ends in May. She has led major enforcement on misconduct and says priorities include scams, small businesses, climate disclosures and greenwashing. Expect continued scrutiny of pricing promises, product design and claims handling. Keep records tidy and disclosure clear, and lean on a broker if a dispute arises.
And an AFCA decision is a timely reminder on claims. AFCA, the Australian Financial Complaints Authority, rejected an attempt to link termite damage to an older storm claim, finding the loss was due to long‑term moisture and not the insured event. Most policies exclude gradual damage and pests. Keep up maintenance, report issues promptly, and get expert reports early so your claim rests on solid evidence.
Thats the wrap for this week. For fast, free quotes and Australia‑wide broker support, head to insuranceonline.com.au. Im Paige Estritori—thanks for listening, and talk to 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, tips, tricks, resources and information.
Business insurance is a type of coverage that protects your company from financial losses that may occur during regular operations. These losses could be due to a variety of risks like property damage, legal liability, or employee-related incidents. - read more
Starting a new business is an exciting and challenging endeavor, particularly in the vibrant and innovative startup landscape of Australia. However, amidst the rush of ideas and the race to launch, many startups overlook the crucial aspect of insurance. Insurance is not merely an additional cost but a vital protective measure that safeguards your emerging business against unforeseen hurdles. - read more
In today's rapidly evolving business environment, insurance has become an essential component for the survival and success of small to medium enterprises (SMEs). As businesses navigate through uncertainties, unexpected events can pose significant threats. Insurance not only provides a safety net but also conveys a sense of stability and trust to partners and customers. - read more
For small businesses, navigating the intricacies of sustainability is a critical task that can be made more manageable through the prudent use of business insurance. Understandably, many small business owners prioritize immediate operational concerns over seemingly discrete matters like insurance. However, as we will explore, insurance is not a mere formality—it's a vital backbone to enduring success. - read more
As a business owner, understanding the ins and outs of insurance can feel like navigating a maze. The terminology alone can be daunting, yet it's crucial to grasp these concepts to make informed decisions about protecting your enterprise. - read more
Australians should brace for continued increases in insurance premiums, albeit at a moderated pace, according to Nick Hawkins, CEO of Insurance Australia Group (IAG). The company recently reported a significant 91% rise in net profit for the first half of the fiscal year ending December 31, 2024, reaching $778 million. This surge is largely attributed to favourable weather conditions and a reduction in claims. ([abc.net.au](https://www.abc.net.au/news/2025-02-14/iag-ceo-nick-hawkins-warns-of-further-premium-increases/104931074?utm_source=openai)) - read more
Insurance Australia Group (IAG), a leading insurer in Australia, has highlighted the significant role of climate change in driving up home insurance premiums. The company reports that the increasing frequency and severity of weather events are major factors contributing to these rising costs. ([abc.net.au](https://www.abc.net.au/news/2025-11-04/climate-change-plays-role-in-growing-home-insurance-iag-warns/105964560?utm_source=openai)) - read more
Insurance companies across Australia and New Zealand are increasingly investing in artificial intelligence (AI) technologies to drive digital transformation and enhance service delivery. This strategic shift aims to improve efficiency, customer interactions, and risk management practices. ([newshub.medianet.com.au](https://newshub.medianet.com.au/2025/01/insurers-embrace-ai-innovations-in-australia-new-zealand/84215/?utm_source=openai)) - read more
Australian businesses are currently navigating a complex and evolving risk landscape, marked by increased exposures across various domains. A recent report from Gallagher highlights several key areas contributing to this heightened risk environment. - read more
Australia's insurance industry has reported an after-tax profit of $6.1 billion for 2024, a substantial increase from the five-year average of $2 billion, according to KPMG's annual review. This surge is attributed to premium hikes and a year with fewer significant weather events. - read more
