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Insurance News

National Climate Risk Assessment Unveils Growing Insurance Challenges National Climate Risk Assessment Unveils Growing Insurance Challenges
17 Sep 2025: Paige Estritori

The Australian government has unveiled its inaugural National Climate Risk Assessment alongside a comprehensive National Adaptation Plan, highlighting the heightened impact of natural disasters on insurance accessibility across the nation. With an urgent call to action, the government acknowledges the impending climate threats and commits to intensifying efforts towards emission reduction. - read more
ASIC Extends Relief on Distribution Rules for Insurance Providers ASIC Extends Relief on Distribution Rules for Insurance Providers
16 Sep 2025: Paige Estritori

The Australian Securities and Investments Commission (ASIC) has announced an extension of the exemption allowing general insurance providers to forego appointing product distributors as authorised representatives. This decision comes with the introduction of a new legislative instrument, 2025/520, which renews the previous framework, originally established under instrument 2015/682. The relief will now continue until August 27, 2030. - read more
Cyber Insurance Becomes Essential Amid Rising Digital Threats Cyber Insurance Becomes Essential Amid Rising Digital Threats
12 Sep 2025: Paige Estritori

The recent cyberattack on Fortnum Private Wealth, accompanied by ASIC's legal action, has spotlighted the critical risks cyber threats pose to financial advice companies in Australia. With digital integration intensifying across the finance sector, the owner of Fortnum, Entireti, plans to defend the case, underscoring the necessity for ongoing vigilance in cybersecurity measures. - read more
Swiss Re Foresees Rising Premiums Amid Increasing Global Risks Swiss Re Foresees Rising Premiums Amid Increasing Global Risks
10 Sep 2025: Paige Estritori

In a comprehensive analysis, Swiss Re Institute predicts that global property and casualty insurance premiums will rise in tandem with GDP over the upcoming decade. This growth is driven by amplified natural catastrophe losses, asset accumulation, and heightened economic and litigation claims inflation. The institute's report outlines the evolving insurance landscape amid increasing global risks. - read more
Insurance Council of Australia Assists NSW Flood Claimants Insurance Council of Australia Assists NSW Flood Claimants
09 Sep 2025: Paige Estritori

In response to the devastating floods that swept across New South Wales' Mid North Coast in May, the Insurance Council of Australia (ICA) is taking proactive steps to support the affected residents. Insurers, organised by the ICA, will be meeting with flood victims in Kempsey, Taree, and Port Macquarie to provide guidance and support as they navigate their insurance claims. - read more
Ombudsman Upholds Policyholder’s Claim Despite Fraud Allegations Ombudsman Upholds Policyholder’s Claim Despite Fraud Allegations
08 Sep 2025: Paige Estritori

A motor insurance policyholder has won a significant dispute over fraud allegations, with the industry ombudsman ruling in favour of a payout following a controversial car accident claim. The case revolved around an incident where the claimant's wife crashed at an intersection one evening, reportedly failing to yield. The lack of photographic evidence due to shock and subsequent involvement of towing services complicated matters. - read more
NM Insurance Secures Growth with Five-Year Zurich Partnership NM Insurance Secures Growth with Five-Year Zurich Partnership
05 Sep 2025: Paige Estritori

In a strategic move set to bolster its market position, NM Insurance has announced a five-year agreement with capacity provider Zurich, positioning itself for further growth and increased broker confidence in its success. Since its establishment two decades ago as Nautilus Marine Insurance Agency, NM Insurance has expanded its focus beyond the recreational boat market in Australia, branching into New Zealand and diversifying into the commercial marine, caravan, and motorcycle sectors. - read more
Empower Your Cyber Knowledge with CFC's Free Masterclass Empower Your Cyber Knowledge with CFC's Free Masterclass
03 Sep 2025: Paige Estritori

In an era where cyber threats are increasingly sophisticated, CFC Underwriting Limited has unveiled a unique opportunity for brokers to fortify their expertise through its newly launched Cyber Masterclass. This initiative offers a flexible, on-demand video learning series designed to advance brokers into proficient cyber insurance specialists at their convenience. - read more
NSW Revisits CTP and Lifetime Care Schemes NSW Revisits CTP and Lifetime Care Schemes
02 Sep 2025: Paige Estritori

New South Wales (NSW) is undertaking a detailed review of its Compulsory Third Party (CTP) insurance scheme as well as its lifetime care and support system. The Standing Committee on Law and Justice of the state's upper house has initiated this examination as part of their routine practice conducted every parliamentary term. The last thorough assessment took place in 2022. - read more
AFCA Upholds Insurer's Premium Increase Amid Consumer Complaint AFCA Upholds Insurer's Premium Increase Amid Consumer Complaint
01 Sep 2025: Paige Estritori

A recent decision by the Australian Financial Complaints Authority (AFCA) has ruled against a homeowner seeking an $18,000 refund from Allianz. The homeowner claimed that the insurer failed to adequately inform her about substantial increases in her optional flood cover premiums. Initially, her monthly payments surged from $369 to $1277 in August 2022, a change she only noticed in March of the following year through her bank statements. - read more
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Boat Insurance Articles

How Proper Boat Maintenance Can Lower Your Insurance Costs
How Proper Boat Maintenance Can Lower Your Insurance Costs
Owning a boat is a cherished luxury for many Australians, offering endless adventures on the open water. But with this privilege comes the responsibility of proper boat maintenance. Regular upkeep isn't just about preserving the longevity and performance of your vessel; it's a crucial aspect that directly impacts your insurance premiums. - read more
Understanding Boat Maintenance Schedules: A Seasonal Guide
Understanding Boat Maintenance Schedules: A Seasonal Guide
Owning a boat comes with a wave of responsibilities, notably in the realm of maintenance. Regular maintenance plays a crucial role in ensuring the longevity and performance of your boat, much like adhering to a trusty roadmap for a long journey. Without it, not only may you encounter unwanted breakdowns, but the overall lifespan of your vessel could be significantly shortened. - read more
Protecting Your Investment: The Importance of Boat Insurance in Australia
Protecting Your Investment: The Importance of Boat Insurance in Australia
Have you ever imagined cruising the beautiful waters of Australia, feeling the wind in your hair and the sun on your face? While owning a boat offers immense joy and freedom, it also comes with responsibilities, one of which is ensuring your vessel is properly insured. - read more
Insurance 101: Understanding Key Terminology for Recreational Boat Owners
Insurance 101: Understanding Key Terminology for Recreational Boat Owners
Boat ownership is a popular recreational activity in Australia, but it’s also important for boat owners to understand the potential risks involved. That's where boat insurance comes in. It's a form of financial protection that helps to cover the costs of any damages, accidental losses, or other unexpected events while using your boat. - read more
Common Boating Blunders: Expert Advice on How to Steer Clear
Common Boating Blunders: Expert Advice on How to Steer Clear
Boating is a pastime enjoyed by millions around the globe, offering a unique blend of adventure, relaxation, and connection with nature. However, navigating the waters comes with its share of risks. Understanding the importance of safety on the waters cannot be overstated – it's not just about adhering to rules; it’s a pivotal aspect of responsible boat ownership and operation. - read more


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Knowledgebase
Elimination Period:
The time period between an injury and the receipt of benefit payments from an insurer, particularly in disability insurance.