| Markel Insurance Expands into Australian Marine Market with New Leadership Mon, 29 Dec: Markel Insurance has announced the appointment of Tim Wills as Head of Marine for Australia, marking a significant expansion into the country's marine insurance sector. Based in Sydney, Wills will spearhead the introduction of Markel's marine products, starting with marine cargo coverage. This move represents the company's first foray into the Australian market beyond its existing long-tail lines established two years prior. - read more
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| Pelagic Risk Services Strengthens Commitment to Australian Marinas Mon, 29 Dec: Pelagic Risk Services, a specialist marine insurance broker, has announced an increased commitment to the Australian marina industry by upgrading its sponsorship of the Marina Industries Association (MIA) from Silver to Gold. This enhanced partnership underscores Pelagic's dedication to supporting marinas across the nation. - read more
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| Marinex Underwriting Debuts in Australian Marine Insurance Sector Mon, 29 Dec: Rhodian Group has announced the launch of Marinex Underwriting, a new marine underwriting agency set to address complex marine insurance needs across the Australian market. Backed by global specialty insurance distributor Amwins, Marinex is co-founded by industry veterans Janelle Karnib, Chris Kelly, and Ainsley Smith. - read more
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| ANZ Predicts Significant Boost in Holiday Consumer Spending Mon, 29 Dec: As the festive season approaches, ANZ Bank has forecasted a substantial increase in consumer spending, anticipating a total of $5.1 billion between 21 December 2025 and 5 January 2026. This projection marks a 4.7% rise compared to the same period last year, indicating a robust consumer confidence and a positive economic outlook. - read more
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| ASIC Enhances Digital Disclosure Guidelines for Financial Services Mon, 29 Dec: The Australian Securities and Investments Commission (ASIC) has recently updated its Regulatory Guide 221, titled 'Facilitating Digital Financial Services Disclosures.' This revision follows a comprehensive consultation with industry stakeholders and reflects ASIC's commitment to promoting transparency and protecting consumers in the digital financial landscape. - read more
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| ASIC Grants Extension of Transitional Relief for Foreign Financial Services Providers Mon, 29 Dec: The Australian Securities and Investments Commission (ASIC) has announced a 12-month extension of the transitional relief for foreign financial services providers (FFSPs). This extension permits FFSPs to continue offering financial services to Australian wholesale clients without holding an Australian Financial Services (AFS) licence until the new deadline. - read more
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| Rising Insurance Premiums Challenge Australian SMEs Mon, 29 Dec: Small and medium-sized enterprises (SMEs) across Australia are increasingly burdened by soaring insurance premiums, with many facing hikes of 30% or more within a single year. This surge has led some businesses to either reduce their coverage or forgo insurance altogether, exposing them to significant financial risks. - read more
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| Upcover's New Management Liability Insurance for SMEs Mon, 29 Dec: Australian insurtech company Upcover has unveiled a new management liability insurance product designed specifically for small and medium-sized enterprises (SMEs) and sole traders. This offering aims to provide comprehensive protection against a range of risks that business owners may encounter. - read more
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| QBE Strengthens Cyber Insurance Offerings Mon, 29 Dec: In response to the growing prevalence of cyber threats and increasingly stringent regulations, QBE Insurance has announced a strategic initiative to bolster its cyber insurance capabilities. This move aims to provide brokers and their clients with more robust support in navigating the complex landscape of cyber risks. - read more
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| Australian Insurers Report $1.11 Billion Profit in Q1 2025 Mon, 29 Dec: The Australian insurance industry has reported a net profit after tax of $1.11 billion for the first quarter of 2025, according to the latest data from the Australian Prudential Regulation Authority (APRA). This figure includes contributions of $990 million from insurers and $123 million from reinsurers. The insurance service result, a key measure of underwriting performance, stood at $1.32 billion for the quarter, complemented by investment returns totaling $1.18 billion. - read more
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| Australian General Insurance Premiums Set to Surpass $144 Billion by 2029 Mon, 29 Dec: The Australian general insurance industry is on a trajectory to see direct written premiums (DWP) exceed $144 billion by 2029, according to projections from data and analytics firm GlobalData. This anticipated growth is attributed to several key factors, including an increased demand for coverage and a rise in the frequency of natural disasters. - read more
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| Health Insurers' Free Cover Promotions Under Government Review Mon, 29 Dec: In a bid to attract new members, several Australian health insurers have launched aggressive promotional campaigns offering up to three months of free cover. This surge in promotional activity has drawn the attention of federal authorities, who are now investigating whether these offers comply with existing regulations that cap allowable discounts. - read more
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| Australian Borrowers Turn to Refinancing Amidst Rising Mortgage Arrears Sun, 28 Dec: Recent data indicates a notable increase in mortgage refinancing across Australia, driven by borrowers seeking improved loan terms in response to escalating arrears, particularly among substantial loans. This trend underscores the financial pressures many Australians are currently facing. - read more
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| Australia's Private Debt Market Hits $224 Billion Milestone Sun, 28 Dec: Australia's private debt market has experienced significant growth, with assets under management reaching A$224 billion—a 9% increase from the previous year. This milestone reflects a consistent shift in capital deployment within the Australian lending market, signaling a new chapter of innovation and flexibility. - read more
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| ASIC's Comprehensive Review Targets Debt Management and Credit Repair Firms Sun, 28 Dec: The Australian Securities and Investments Commission (ASIC) has announced a thorough review of the debt management and credit repair sector, aiming to assess compliance with legal requirements and enhance consumer protection, particularly for individuals facing financial difficulties. - read more
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| Australia's Used Hybrid Car Market Experiences Significant Growth Sun, 28 Dec: The Australian used car market is witnessing a notable surge in hybrid vehicle sales, reflecting a growing consumer inclination towards sustainable and practical transportation options. - read more
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| New Low-Interest Loans Aim to Accelerate Electric Vehicle Uptake in Australia Sun, 28 Dec: In a concerted effort to promote sustainable transportation, the Australian government has partnered with Metro Finance to offer low-interest loans aimed at encouraging small and medium-sized businesses to invest in electric vehicles (EVs). - read more
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| Comprehensive Indemnity Insurance Now Available for Private Midwives Sun, 28 Dec: As of 1 July 2025, the Department of Health, Disability and Ageing has introduced a professional indemnity insurance (PII) product specifically designed for midwives providing intrapartum care. This development, under the Midwife Professional Indemnity Scheme (MPIS), ensures that private midwifery practitioners now have access to insurance coverage encompassing all facets of their practice, including intrapartum services. - read more
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| Australian Surgeons Confront Escalating Indemnity Insurance Costs Sun, 28 Dec: In recent developments within the Australian healthcare sector, a significant number of bariatric surgeons are contemplating the future of their medical practices due to a substantial increase in indemnity insurance premiums and a rising incidence of legal claims. This trend poses potential challenges to the accessibility of obesity-related procedures for patients across the country. - read more
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| Health Insurance Premiums Expected to Surge by Over 10% in 2026 Sun, 28 Dec: Recent projections indicate that global health insurance costs are set to rise by 10.3% in 2026, marking a continuation of the upward trend observed in recent years. This follows a 10% increase in 2025 and a 9.5% rise in 2024, underscoring the sustained inflationary pressures faced by insurers and employer-sponsored health plans worldwide. - read more
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| Comprehensive Insurance Solutions for Fitness Professionals by Marsh Sun, 28 Dec: Marsh, a leading insurance broker, offers tailored insurance solutions designed specifically for fitness professionals across Australia. Recognising the unique risks associated with the fitness industry, Marsh provides comprehensive coverage options to safeguard personal trainers, gym owners, and other fitness practitioners. - read more
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| AUSactive's Professional Plus Membership: Comprehensive Support for Fitness Professionals Sun, 28 Dec: AUSactive, Australia's peak body for the exercise and active health sector, has introduced the Professional Plus Membership, a comprehensive package designed to support fitness professionals in their careers. This membership combines the benefits of AUSactive's professional membership with an exclusive insurance policy tailored for those delivering fitness, exercise, and active health activities. - read more
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| FIT College's Student Insurance: Safeguarding Future Fitness Professionals Sun, 28 Dec: FIT College, a leading provider of fitness education in Australia, offers a Student Insurance program designed to protect aspiring fitness professionals during their studies. This initiative ensures that students enrolled in courses such as the Certificate III and IV in Fitness are covered for all training and assessment activities required by their curriculum. - read more
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| Australian Insurers Achieve Record Profits Amid Rising Premiums Sun, 28 Dec: In 2024, Australia's insurance sector reported an after-tax profit of $6.1 billion, a significant increase from the five-year average of $2 billion. This surge is primarily attributed to substantial premium hikes and a relatively calm year concerning natural disasters. - read more
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| Australian Insurers Leverage AI Innovations to Transform Services Sun, 28 Dec: Insurance companies in Australia and New Zealand are increasingly investing in artificial intelligence (AI) technologies to become more data-driven and digital-first organizations. This shift aims to enhance efficiency, comply with evolving regulations, and meet changing consumer expectations. - read more
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