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Insurance News

Amid Surging Profits, The Insurance Sector Faces Public Perception Hurdles

02 Oct 2025: Paige Estritori

The general insurance industry's after-tax profits rose significantly to $7.3 billion last financial year, marking its strongest performance in over a decade, according to actuarial group Taylor Fry. This impressive outcome was driven by lower-than-expected losses from catastrophes and robust investment returns. The previous year's figures, limited by accounting changes affecting data availability, saw comparable profits for nine months rising by 33% to $5.2 billion. - read more

Insurers Urged to Address 'Climate-Blind' Coverage

01 Oct 2025: Paige Estritori

The recent release of the first National Climate Risk Assessment provides stark evidence that climate risk is on the rise, particularly affecting regional Australia. The assessment highlights a significant issue within the insurance sector: a knowledge gap in the visibility of rural insurance portfolios. Insurers are often unaware of the full extent of assets needing protection, leaving portfolios underinsured and risks improperly priced. This gap is exacerbated by increasing climate volatility, presenting a formidable challenge for the sector. - read more

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Trades Insurance Articles

Why Comprehensive Insurance is Crucial for Your Trade Business

Comprehensive insurance is a type of coverage that protects your trade business from various risks and unforeseen events. It typically includes an array of policies that cover different aspects of your business operations. - read more

Top 5 Reasons Tradespeople Need Tools and Equipment Insurance

For tradespeople, tools and equipment are the backbone of their daily operations. From basic hand tools to advanced machinery, having the right gear is crucial for delivering quality work and maintaining efficiency. - read more

How Specialized Insurance Safeguards Australian Tradespeople

Specialized insurance for tradespeople is a form of tailored insurance coverage designed specifically to meet the unique needs and risks that professionals in various trades encounter. This includes trades such as electricians, plumbers, carpenters, and other similar occupations. - read more

Dictionary

Coinsurance

noun

A percentage of the cost of a covered healthcare service that you pay after you have paid your deductible.

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