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 Australian insurance stories this week: NSW CTP premiums face renewed cost pressures after reforms; Octobers east‑coast storms are now a roughly $1.1b insurance event; AFCA rules an insurer should cover a spoofed‑email payment‑redirection loss, highlighting cyber risks for SMEs and charities; and Treasury opens consultation on professional indemnity reforms while a special levy supports the Compensation Scheme of Last Resort. Listeners are encouraged to compare policies early, check sums insured and flood wording, add verification steps for payments, and review PI cover—using InsuranceOnline.com.au for free quotes and broker support.
Hello and welcome to Insurance Online News, Im Paige Estritori, and its Thursday 18 December 2025.
First, New South Wales compulsory third‑party motor scheme is showing fresh cost pressures. Premiums have edged higher this year as claim volumes rise, including more psychological injury claims, according to a parliamentary review. Regulators are being urged to keep the scheme steady while recent reforms bed in. If youre renewing car cover for family or a business fleet, compare early and make sure your policy extras still match your needs.
Meanwhile, those late‑October storms across Queensland, New South Wales and Victoria are now expected to cost about $1.1 billion in insured losses. Tens of thousands of property and motor claims have been lodged, which keeps pressure on pricing in storm‑exposed areas. Check your sum insured and excess, confirm flood and storm wording, and use our free quotes and broker support to test the market before you renew.
Next up, a notable ruling on payment‑redirection fraud. The Australian Financial Complaints Authority, or AFCA, decided an insurer should cover a business after a fraudster intercepted an overseas transfer by spoofing emails. Business email compromise remains a big risk for SMEs and charities. Put call‑back checks in place for any bank‑detail changes and consider cyber and crime cover; we can help you compare policies that include social‑engineering protection.
Finally, Treasury has opened consultation to strengthen professional indemnity insurance as a first line of defence for the Compensation Scheme of Last Resort. At the same time, a special levy of about $47 million will be collected across several financial subsectors to plug a funding shortfall. If you hold an Australian Financial Services Licence or provide regulated advice, review PI limits, exclusions and run‑off well ahead of renewal and get an expert to benchmark options.
Thats the wrap. For fast, free personal and business insurance quotes and access to independent brokers nationwide, head to insuranceonline.com.au. Im Paige Estritori—thanks for listening.
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.
Tailored insurance is a type of insurance policy that's specifically designed to meet the unique needs of a particular business or industry. Unlike one-size-fits-all policies, tailored insurance provides a more customized approach, ensuring that the coverage fits the specific risks and requirements of the business. - read more
In the bustling world of hospitality, the right insurance can make all the difference for your business. Tailored insurance, as the name suggests, involves customising your insurance policy to meet the specific needs and risks associated with your industry. This personalised approach ensures that you are not overpaying for unnecessary coverage while also safeguarding your business against potential threats. - read more
Running a cafe is more than just serving delightful coffee and snacks; it's about creating an experience and ensuring that experience is safeguarded. While the hospitality industry can be incredibly rewarding, it's not without its risks. This is where the importance of insurance comes into play, acting as a crucial safety net for cafe owners. - read more
Hospitality insurance is a crucial component for businesses within the hospitality sector, offering coverage for a range of incidents that could potentially derail operations. It's designed to protect establishments like hotels, restaurants, and event venues from various risks such as liability claims, property damage, and interruption of services. - read more
The Australian hospitality industry is renowned for its vibrancy, yet it also faces significant challenges. With fluctuating demand, seasonal changes, and unpredictable external factors such as economic downturns and pandemics, hospitality businesses often operate in a high-risk environment. For hotel operators, the stakes are even higher due to substantial investments in property, staff, and customer service. - read more
According to a recent report by Swiss Re, Australia's life insurance market is projected to experience a 1.7% real growth in premiums in 2025. This anticipated increase is attributed to easing cost-of-living pressures and the repricing of disability income policies. - read more
In a significant development for policyholders, TAL has expanded its Health Sense Plus program to encompass income protection (IP) policies. This initiative, effective from August 8, 2025, aims to incentivize proactive health management by offering premium discounts to clients who engage in preventive health checks. - read more
In a significant move to bolster support for the marina industry, Pelagic Risk Services has elevated its sponsorship status from Silver to Gold with the Marina Industries Association (MIA). This advancement underscores Pelagic's dedication to enhancing the operational capabilities and risk management strategies of marina operators across Australia. - read more
In an era where digital threats are escalating, Australian insurers are reportedly less prepared to manage risks associated with cyber threats and artificial intelligence (AI) compared to their global counterparts. This insight emerges from the latest PwC Insurance Banana Skins Survey, which assesses the industry's readiness to tackle emerging challenges. - read more
Australia's general insurance market is on a trajectory of steady expansion, with projections indicating that total direct written premiums (DWP) will reach $144.5 billion by 2029. This growth reflects a compound annual growth rate (CAGR) of 8.8%, as analysed by data and analytics firm GlobalData. - read more
