| Envest Group Unveils TLI Underwriting for Heavy Motor Fleets Thu, 13 Nov: Envest Group, a prominent player in Australia's insurance sector, has announced the launch of TLI Underwriting, a new agency dedicated to providing specialised insurance solutions for heavy motor fleet operators. This strategic move aims to address the unique challenges faced by larger transport businesses in Australia. - read more
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| AFCA Directs AIA to Pay Truck Driver's TPD Benefit After Decade-Long Dispute Thu, 13 Nov: In a significant ruling by the Australian Financial Complaints Authority (AFCA), insurance provider AIA has been directed to pay a total and permanent disability (TPD) benefit to a truck driver, concluding a protracted dispute that spanned over a decade. - read more
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| ICA Proposes Reforms to Reduce Insurance Costs in Queensland Thu, 13 Nov: The Insurance Council of Australia (ICA) has recently submitted a series of recommendations to the Queensland Productivity Commission, aiming to address escalating insurance costs and bolster housing resilience across the state. These proposals are particularly pertinent to tradespeople, who are integral to the construction and maintenance of Queensland's housing infrastructure. - read more
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| NSW Builders Advised to Obtain Professional Indemnity Insurance Before 2026 Thu, 13 Nov: In light of recent legislative changes, BizCover is urging registered building practitioners in New South Wales (NSW) to secure professional indemnity (PI) insurance well ahead of the July 1, 2026 compliance deadline. This advisory follows the extension of the enforcement date under the Design and Building Practitioners Act 2021, which now mandates that builders hold PI insurance deemed sufficient to cover potential liabilities. - read more
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| Significant Premium Reductions in Australian Construction Insurance Market Thu, 13 Nov: The Australian construction insurance market has experienced a notable shift in 2025, with premiums decreasing across various lines due to intensified competition among insurers. According to Marsh's Construction Insurance Market Update 2025, the first half of the year saw average premium reductions ranging from 5% to 15%, marking a significant departure from the upward trend observed in 2024. - read more
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| NatRoad Demands Action Against Illegal Employment in Trucking Thu, 13 Nov: The National Road Freight Transport Association (NatRoad) has recently highlighted a pressing issue within Australia's trucking sector: the prevalence of illegal employment practices, notably sham contracting. This practice involves misclassifying employee drivers as independent contractors, allowing companies to evade obligations such as payroll tax, superannuation, and workers' compensation insurance. Such misclassification not only undermines fair competition but also jeopardises road safety standards. - read more
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| Celebrating Excellence: ATA's 2025 Award Winners Thu, 13 Nov: The Australian Trucking Association (ATA) has proudly announced the recipients of its 2025 awards, recognising exceptional contributions to the trucking industry. These accolades highlight the dedication and expertise of individuals and organisations committed to advancing the sector. - read more
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| Isuzu's Landmark Report Sheds Light on Trucking Industry Trends Thu, 13 Nov: Isuzu Australia Limited (IAL) has released a comprehensive industry report titled 'The Future of Trucking Report: The Way Forward.' This extensive survey, involving over 1,300 respondents from various transport sectors, provides valuable insights into the current state and future trajectory of Australia's road transport industry. - read more
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| BIA's New Combined Indemnity and Liability Insurance Now Available Thu, 13 Nov: Berkley Insurance Australia (BIA) has announced the launch of a combined professional indemnity (PI) and public liability (PL) insurance product, set to be available from June 1 through the Steadfast Client Trading Platform (SCTP). This initiative aims to simplify the insurance process for brokers and their clients by offering a unified policy that addresses both professional and public liability risks. - read more
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| Sterling Insurance Enhances PI Offerings with Lloyd's Binder Thu, 13 Nov: Sterling Insurance has successfully secured a new professional indemnity (PI) binding authority with Lloyd's, a move that promises to provide Australian brokers with greater control over product offerings and pricing structures. This development is part of Sterling's ongoing commitment to delivering tailored insurance solutions that meet the specific needs of niche and complex risk sectors. - read more
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| APRA's 2022 Data Shows Stable PI Claims and Premium Reduction Thu, 13 Nov: The Australian Prudential Regulation Authority (APRA) has released its latest National Claims and Policies Database, providing valuable insights into the professional indemnity (PI) insurance sector for the 2022 underwriting year. The data indicates that PI claims payments for non-facility business remained relatively stable at $1.111 billion, a slight increase from $1.109 billion in the previous year. - read more
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| Commonwealth Bank of Australia Navigates Profit Growth Amid Margin Pressures Thu, 13 Nov: The Commonwealth Bank of Australia (CBA), the nation's largest bank by market value, has reported a modest increase in its first-quarter cash profit, driven primarily by robust growth in home loans and household deposits. The unaudited cash profit for the quarter reached approximately A$2.6 billion, marking a 1% rise from the average of the previous two quarters and a 2% increase compared to the same period last year. - read more
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| ANZ Bank Reports Significant Profit Decline Amid Regulatory and Operational Challenges Thu, 13 Nov: ANZ Group has reported a 14% decline in its annual cash earnings, totaling A$5.79 billion for the fiscal year ending September 30, 2025. This downturn falls short of analyst expectations and marks a decrease from A$6.73 billion in the previous year. The decline is primarily attributed to a A$1.11 billion post-tax impact, which includes A$414 million in redundancy costs associated with the layoff of 3,500 employees and A$264 million in penalties from regulatory lawsuits. - read more
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| Australian Government Announces Increased Borrowing to Support Budget Measures Thu, 13 Nov: In its 2024/25 financial year budget, the Australian government has outlined plans to increase its borrowing to over A$100 billion in Treasury bonds and approximately A$3 billion in Treasury Indexed Bonds. This move aims to finance a range of cost-of-living relief measures ahead of the national election scheduled for May. The revised borrowing requirement surpasses the previously estimated A$95 billion. - read more
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| Allianz Partners Highlights Risks of Travelling Uninsured Wed, 12 Nov: Recent research conducted by the Insurance Council of Australia (ICA) and the Department of Foreign Affairs and Trade (DFAT) has unveiled a concerning trend: approximately 14% of Australian travellers embark on international journeys without any form of travel insurance. This statistic has prompted Allianz Partners to urge Australians to reconsider the importance of securing adequate coverage before travelling abroad. - read more
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| Unveiling Hidden Exclusions in Travel Insurance Policies Wed, 12 Nov: Australian travellers are being urged to carefully review their travel insurance policies to identify potential exclusions that could affect their coverage. Legal expert Peter Carter from Carter Capner Law highlights that certain activities, such as riding motorbikes or jet skis and consuming alcohol, are often classified as high-risk by insurers. Incidents occurring during these activities may lead to claim rejections. - read more
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| EQT Proposes A$5.25 Billion Acquisition of AUB Group Wed, 12 Nov: In a significant development within the Australian insurance sector, Swedish private equity firm EQT has extended a takeover offer for AUB Group, valuing the company at A$5.25 billion (US$3.41 billion). This proposal includes a price of A$45 per share, representing a 25.1% premium over AUB's last closing price. The offer follows an earlier bid of A$43 per share, indicating EQT's strong interest in acquiring AUB Group. - read more
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| Australian Insurers Achieve Record Profits Amid Rising Premiums Wed, 12 Nov: Australia's insurance industry has reported an after-tax profit of $6.1 billion for the year 2024, a figure that is three times higher than the five-year average of $2 billion. This substantial increase is attributed to significant premium hikes and a relatively benign year for natural disasters. - read more
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| Australia Reports 25% Reduction in Natural Catastrophe Insured Losses Wed, 12 Nov: The Insurance Council of Australia (ICA) has reported a 25% decrease in total insured losses from natural catastrophe events over the 12 months to 30 June 2025. The losses fell from $2.61 billion in 2023–24 to $1.97 billion in 2024–25, indicating a notable reduction in the financial impact of natural disasters on the insurance industry. - read more
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| Marinex Underwriting Debuts in Australian Marine Insurance Sector Tue, 11 Nov: In a significant development for Australia's marine insurance industry, Rhodian Group has announced the launch of Marinex Underwriting, a new agency dedicated to providing specialised marine insurance products tailored to the unique needs of the Australian market. - read more
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| Marsh Secures Role in Australian Navy's Maritime Insurance Program Tue, 11 Nov: In a strategic move to bolster its naval capabilities, the Australian government has appointed global insurance broker Marsh to oversee the insurance and risk advisory components of the Royal Australian Navy's Maritime Insurance Program (MIP). This program is integral to the nation's extensive naval fleet expansion and infrastructure development initiatives. - read more
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| Northern Australian Marinas Appeal for Relief from Escalating Insurance Premiums Tue, 11 Nov: Marina operators in northern Australia are facing a financial storm as marine insurance premiums have surged by over 300% in recent years, prompting urgent calls for government intervention to ensure the sustainability of coastal businesses. - read more
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| RBA's Interest Rate Cut Fuels SME Lending Boom Tue, 11 Nov: In a significant development for Australia's small and medium-sized enterprises (SMEs), the Reserve Bank of Australia's (RBA) recent interest rate cut has led to a substantial increase in business lending. Data from SME lender OnDeck Australia indicates a 40% year-on-year rise in lending volumes during the three months following the RBA's February rate reduction. This surge underscores the positive impact of lower borrowing costs on the SME sector. - read more
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| Prime Capital Unveils 'Business Jumbo Loans' for SMEs Tue, 11 Nov: In response to the growing demand for substantial business financing, Sydney-based non-bank lender Prime Capital has introduced its 'Business Jumbo Loans' program. This initiative offers loans ranging from $5 million to $25 million, with interest rates starting at 8.64% and a loan-to-value ratio of up to 75%. Notably, the approval process is streamlined to provide decisions within 24 hours. - read more
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| NAB Report Identifies Key Challenges Facing Australian SMEs Tue, 11 Nov: The National Australia Bank's (NAB) Q2 2025 Economics SME Business Insights report has shed light on the primary concerns confronting Australian small and medium-sized enterprises (SMEs). The report identifies cash flow management, profitability, and navigating government policies and regulations as the most pressing issues for SMEs. - read more
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