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Insurance News

ACCC Deepens Investigation into IAG's Proposed RAC Insurance Acquisition ACCC Deepens Investigation into IAG's Proposed RAC Insurance Acquisition
16 May 2026: Paige Estritori

The Australian Competition and Consumer Commission (ACCC) has escalated its examination of Insurance Australia Group's (IAG) proposed acquisition of RAC Insurance, moving the process into a Phase 2 review. This decision underscores the regulator's concerns about the potential for reduced competition within Western Australia's insurance market. - read more
Australian Insurers Achieve $6.1 Billion Profit Amid Rising Premiums Australian Insurers Achieve $6.1 Billion Profit Amid Rising Premiums
16 May 2026: Paige Estritori

Australia's insurance industry has reported a significant after-tax profit of $6.1 billion for the year 2024, marking a substantial increase compared to previous years. This surge in profitability is attributed to a combination of premium hikes and a year characterized by fewer severe weather events. - read more
Unprecedented Spike in Mental Health Insurance Claims Highlights Need for Prompt Payouts Unprecedented Spike in Mental Health Insurance Claims Highlights Need for Prompt Payouts
16 May 2026: Paige Estritori

Australia is witnessing an unprecedented increase in mental health-related insurance claims, prompting consumer advocates to urge insurers and superannuation funds to expedite payouts to affected individuals. - read more
HESTA Announces 12% Reduction in Insurance Fees to Benefit Members HESTA Announces 12% Reduction in Insurance Fees to Benefit Members
08 May 2026: Paige Estritori

HESTA, a prominent Australian superannuation fund, has unveiled a significant reduction in insurance fees, averaging 12% across all cover types. This change is set to take effect from 1 July 2026 and is part of a broader initiative to make insurance more accessible and affordable for its members. - read more
Suncorp's AU$2.4 Billion Reinsurance Deal Sparks 10% Share Surge Suncorp's AU$2.4 Billion Reinsurance Deal Sparks 10% Share Surge
08 May 2026: Paige Estritori

Suncorp, a leading Australian insurer, has successfully secured a substantial reinsurance arrangement valued at up to AU$2.4 billion over five years. This strategic move has positively influenced the company's fiscal 2026 growth projections, resulting in a notable 10% increase in share value. - read more
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Trades Insurance Articles

Top Insurance Coverage Options Every Tradesperson Should Consider
Top Insurance Coverage Options Every Tradesperson Should Consider
Whether you're a carpenter, electrician, plumber, or any other type of tradesperson, your work is essential to keeping homes and businesses running smoothly. But have you ever thought about how important insurance is for your trade business? - read more
Trade Insurance Made Easy: Streamlining Your Paperwork
Trade Insurance Made Easy: Streamlining Your Paperwork
Insurance is a crucial aspect of business for tradespeople. Whether you are a sole trader or run a small trades business, having the right insurance coverage protects you from unexpected financial burdens. - read more
Why Every Tradesperson in Australia Needs Public Liability Insurance
Why Every Tradesperson in Australia Needs Public Liability Insurance
Public liability insurance is a type of coverage designed to protect you in the event that a member of the public is injured or their property is damaged because of your business activities. It's essential for tradespeople whose everyday work involves interacting with clients and the public—or working in environments where accidents could happen. - read more
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Insurance Claim:
Notification to an insurance company requesting payment of an amount due under the terms of the policy.