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 developments for Australian consumers and SMEs: proposed NSW changes to strata insurance commissions and the shift to fee‑for‑service; APRAs climate stress test warning more homes may become uninsured or underinsured; the Insurance Councils budget push for disaster‑mitigation funding and short‑term affordability relief; and tighter product‑safety enforcement despite a small fall in recalls. Listeners are urged to review cover, compare options, update sums insured, and ensure liability and recall protections are appropriate, with help from independent brokers via insuranceonline.com.au.
Hello and welcome to Insurance Online News, Im Paige Estritori, and its Thursday, 26 March 2026.
First, New South Wales is weighing big changes to how strata insurance is paid for. A state inquiry has recommended banning commissions for strata managers and restricting commissions for intermediaries, with a three‑year transition. The aim is more transparency, but it could shift many buildings to fee‑for‑service and change how committees access advice. If youre on an owners corporation, ask your manager and broker what services would be included under fees, get comparisons early, and make sure your sums insured and liability settings still stack up.
Next up, a prudential stress test from APRA — thats the Australian Prudential Regulation Authority — suggests up to about one million homes could be uninsured or underinsured by 2050 if climate risks keep rising. Losses from storms and hail are projected to climb, and flood risk affects more than half of homes today, with rural areas most exposed. For households and small businesses, that means reviewing cover now: check flood, storm and hail, update rebuild costs, and compare options so youre not caught short by underinsurance.
Meanwhile, the Insurance Council says the May budget is likely to be tight but is pushing for Disaster Ready Fund reforms and a short‑term scheme to ease affordability for high‑risk homeowners. Nothing is locked in yet, but policy settings could change how risk is shared and what support is available. Dont wait on the budget to act; keep your policies current, explore cover choices, and ask a broker about practical mitigation that can help keep premiums in check.
And for product makers and importers, recalls dipped slightly last year but regulators are leaning in with tougher rules, including updated recall procedures in health and consumer tech. The takeaway for SMEs is simple: keep your product safety and documentation tight, and check that your public and products liability — and any recall extensions — are fit for purpose. Build a basic recall plan so you can respond quickly if something goes wrong.
Thats it for this week. For fast, free personal and business insurance quotes, easy comparisons, and access to independent brokers nationwide, head to insuranceonline.com.au. Im Paige Estritori — thanks for listening, and Ill see you next week.
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.
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Subrogation: The process by which an insurance company seeks to recover the amount paid to the policyholder from a third party responsible for the loss.
