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Insurance News

IAG's Profits Surge by 91% as Premiums Continue to Rise
IAG's Profits Surge by 91% as Premiums Continue to Rise
04 Oct 2025: Paige Estritori
Insurance Australia Group (IAG) has reported a significant 91% increase in net profit for the first half of the fiscal year, reaching $778 million. This substantial growth is attributed to favourable weather conditions and strategic business operations. Despite a general easing of inflationary pressures, IAG's CEO, Nick Hawkins, has indicated that insurance premiums are expected to continue rising, albeit at a slower pace. - read more
ACCC Scrutinises IAG's Proposed Acquisition of RAC Insurance
ACCC Scrutinises IAG's Proposed Acquisition of RAC Insurance
04 Oct 2025: Paige Estritori
The Australian Competition and Consumer Commission (ACCC) has expressed concerns regarding Insurance Australia Group's (IAG) proposed acquisition of the Royal Automobile Club of Western Australia's (RAC) insurance business. The deal, valued at A$1.35 billion (approximately $877 million), aims to expand IAG's presence in Western Australia. However, the ACCC warns that this consolidation could diminish competition in the region's motor and home insurance sectors. - read more
Steadfast Group Acquires Majority Stake in Novum Underwriting Partners for Global Expansion
Steadfast Group Acquires Majority Stake in Novum Underwriting Partners for Global Expansion
25 Sep 2025: Paige Estritori
Steadfast Group, Australia's largest general insurance broker network, has announced the acquisition of a majority stake in Novum Underwriting Partners. This strategic move, revealed on September 1, 2025, is a pivotal step in Steadfast's ambition to expand its global operations. - read more
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Trades Insurance Articles

Step-by-Step Process for Tradespeople to Submit an Insurance Claim
Step-by-Step Process for Tradespeople to Submit an Insurance Claim
Welcome to our guide on the step-by-step process for tradespeople to submit an insurance claim. Navigating the insurance claim process can often be daunting, especially for busy tradespeople who are focused on their day-to-day operations. In this article, we'll walk you through each stage, making the process simple and straightforward. - read more
Why Comprehensive Insurance is Crucial for Your Trade Business
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
What Types of Insurance Does Every Australian Tradie Need?
What Types of Insurance Does Every Australian Tradie Need?
Public liability insurance is a type of cover that protects businesses and their owners from the financial risks of liabilities that may occur due to damage or injury to a third party. For tradies in Australia, this insurance is crucial due to the nature of their work environment. Working on various sites and handling different tasks increases the likelihood of accidents happening, which makes this type of insurance not only relevant but essential. - read more
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Dictionary

Loss of Use

noun

Insurance coverage that pays for the additional living expenses if your home is uninhabitable due to a covered loss.

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