| Heightened Road Risks as Holiday Travel Meets Freight Surge Tue, 23 Dec: As the Australian summer holidays approach, a significant increase in road traffic is anticipated, coinciding with peak freight activity. This convergence raises concerns about heightened road risks, prompting insurers and transport specialists to issue warnings to motorists. - read more
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| Addressing the Surge in Collision Risks Among Australian Fleet Operators Tue, 23 Dec: Australia's transport and haulage sector is currently navigating a period marked by an uptick in motor collision claims, posing significant challenges for fleet operators nationwide. This trend underscores the necessity for enhanced risk management and insurance strategies to safeguard operations and maintain profitability. - read more
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| Inattention and Speed: Primary Factors in Australian Truck Crashes Tue, 23 Dec: The National Truck Accident Research Centre (NTARC) has released its latest Major Incident Investigation Report, shedding light on the predominant causes of significant truck crashes across Australia. The findings underscore the critical need for targeted interventions to enhance road safety within the transport industry. - read more
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| Australian Insurers Urged to Strengthen Cyber Risk Defenses Tue, 23 Dec: Recent findings from the PwC Insurance Banana Skins Survey indicate that Australian insurers are trailing behind their global counterparts in preparedness for cyber threats. The survey, which gathered insights from 698 insurance executives across 42 territories, revealed that Australian insurers scored 6.6% lower on the Preparedness Index compared to the global average. - read more
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| Australian General Insurers Report Record Profits Amid Premium Hikes Tue, 23 Dec: Australia's general insurance industry has reported a 19% return on equity (ROE) for the 2025 financial year, marking the highest in a decade. This significant achievement is attributed to favourable weather conditions, strong investment gains, and the continued flow-through of premium increases, as detailed in the latest Optima Report by actuarial consultancy Finity. - read more
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| Australian Life Insurance Sector Set for Significant Growth Tue, 23 Dec: Australia's life insurance market is projected to experience moderate expansion over the next four years, with gross written premiums (GWP) expected to increase from $26.2 billion in 2025 to $30.5 billion by 2029. This growth, representing a compound annual growth rate (CAGR) of 3.9%, is driven by factors such as economic recovery, an aging population, and heightened public awareness of health and financial planning, according to recent analysis by GlobalData. - read more
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| Isuzu Australia Introduces Dedicated Financial Services for Truck Buyers Tue, 23 Dec: In a strategic move to bolster its customer support offerings, Isuzu Australia Limited (IAL) has announced the establishment of Isuzu Financial Services Australia (IFSA). This initiative marks the first time the Isuzu Group has founded a leasing company outside Japan, reflecting a significant commitment to the Australian market. - read more
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| Geely's Farizon Electric Trucks Make Australian Debut Tue, 23 Dec: Chinese automotive giant Geely Auto has announced its entry into the Australian light commercial vehicle market through its Farizon brand, specialising in electric commercial vehicles. This move signifies a notable expansion of electric vehicle (EV) offerings in Australia's commercial sector. - read more
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| CEFC and Volvo Group Collaborate to Accelerate Electric Truck Adoption in Australia Tue, 23 Dec: The Clean Energy Finance Corporation (CEFC) has partnered with Volvo Group to introduce a $70 million financing package aimed at accelerating the adoption of heavy-duty battery electric trucks (HD BEVs) in Australia. This initiative seeks to address the substantial transport-related emissions by facilitating the transition to cleaner vehicle technologies. - read more
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| Treasury Initiates Consultation on Professional Indemnity Insurance Reforms Tue, 23 Dec: The Australian Treasury has commenced a consultation process aimed at improving the effectiveness of professional indemnity (PI) insurance, with the goal of strengthening the Compensation Scheme of Last Resort (CSLR). This initiative seeks to gather stakeholder feedback on the current operation of PI insurance and explore opportunities for enhancement. - read more
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| Upcover Introduces Specialised Insurance Solutions for Australian Nurses Tue, 23 Dec: Sydney-based insurtech company Upcover has unveiled a new professional indemnity and public liability insurance product tailored specifically for nurses across Australia. This initiative aims to provide comprehensive coverage that meets the unique needs of nursing professionals, including nurse practitioners, in-patient nurses, doulas, and nursing students. - read more
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| APRA Reports Stability in Professional Indemnity Claims with Decreasing Premiums Tue, 23 Dec: 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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| Understanding the Rise of AI-Powered Scams in Australia Tue, 23 Dec: In recent months, Australia has witnessed a significant escalation in cybercrime, with artificial intelligence (AI) being increasingly exploited by cybercriminals to orchestrate sophisticated scams. This surge underscores the urgent need for individuals and businesses to enhance their cybersecurity measures to protect sensitive information. - read more
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| APRA's Inaugural System Risk Outlook: Key Financial Vulnerabilities Identified Tue, 23 Dec: The Australian Prudential Regulation Authority (APRA) has released its inaugural System Risk Outlook, providing a comprehensive analysis of the key vulnerabilities facing Australia's financial system.This report serves as a critical tool for understanding and mitigating potential risks that could impact financial stability. - read more
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| ASIC Extends Transitional Relief for Foreign Financial Services Providers Tue, 23 Dec: The Australian Securities and Investments Commission (ASIC) has announced an extension of the transitional relief for foreign financial services providers (FFSPs), granting them an additional 12 months to operate without holding an Australian financial services (AFS) licence when providing services to Australian wholesale clients.This extension is a significant development for international firms engaged in Australia's financial markets. - read more
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| Allianz Partners Introduces Tailored Cruise Travel Insurance for Australians Mon, 22 Dec: In a strategic move to cater to the growing number of Australian cruise enthusiasts, Allianz Partners has unveiled a cruise-specific travel insurance product in collaboration with Norwegian Cruise Line (NCL). This initiative aims to provide comprehensive coverage tailored to the unique needs of cruise travellers. - read more
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| Australian Insurers Face Challenges in Cybersecurity Readiness Mon, 22 Dec: Recent findings from the PwC Insurance Banana Skins Survey reveal that Australian insurers are trailing behind their global counterparts in cybersecurity preparedness. This lag is particularly concerning given the rapid evolution of cyber threats, especially those enhanced by artificial intelligence (AI). - read more
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| Australian General Insurers Report Record Profits Amid Premium Hikes Mon, 22 Dec: Australia's general insurance industry has reported a remarkable financial performance, achieving a 19% return on equity (ROE) for the 2025 financial year—the highest in a decade. This significant milestone reflects a combination of strategic premium increases and favourable market conditions. - read more
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| Australian Life Insurance Sector Anticipates Steady Growth Amid Economic Recovery Mon, 22 Dec: The Australian life insurance market is on a trajectory of steady growth, with projections indicating an increase in gross written premiums (GWP) from $26.2 billion in 2025 to $30.5 billion by 2029. This represents a compound annual growth rate (CAGR) of 3.9%, reflecting a positive outlook for the sector. - read more
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| ICA Advocates for Overhaul of Civil Liability Laws Amid Rising Insurance Premiums Mon, 22 Dec: The Insurance Council of Australia (ICA) has recently released a white paper highlighting the urgent need for reforms to state and territory civil liability laws, which have remained largely unchanged for nearly 25 years. These outdated laws are contributing to significant increases in public liability insurance premiums, affecting a wide range of businesses across the nation. - read more
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| APRA Data Shows Significant Rise in Public Liability Insurance Premiums Mon, 22 Dec: The Australian Prudential Regulation Authority (APRA) has released its latest National Claims and Policies Database (NCPD) statistics, revealing a substantial increase in public liability insurance premiums over recent years. According to the data, premiums have risen by 40% since 2015, a rate that surpasses general inflation and places additional financial strain on businesses across the country. - read more
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| Upcover's New Management Liability Insurance: A Boon for SMEs Mon, 22 Dec: In a significant development for small and medium-sized enterprises (SMEs) and sole traders across Australia, Sydney-based insurtech company Upcover has unveiled a new management liability insurance product. This offering is designed to provide comprehensive protection against a range of risks, including employment disputes, official investigations, tax audits, financial crimes, statutory liabilities, and allegations of legal breaches. - read more
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| New Opportunities for Queensland Strata Owners to Lower Insurance Costs Mon, 22 Dec: Strata property owners in North and Central Queensland have a new avenue to reduce their insurance premiums, thanks to recent regulatory updates to the Cyclone Reinsurance Pool effective from April 1, 2025. By undertaking approved cyclone mitigation activities, these owners can not only enhance the resilience of their properties but also benefit from significant cost savings on insurance. - read more
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| Poor Strata Governance in Victoria Leading to Higher Insurance Premiums Mon, 22 Dec: The Insurance Council of Australia (ICA) has raised concerns over the impact of inadequate strata governance on insurance premiums for Victorian residents. In a recent submission to the Expert Panel Review of the Owners Corporations Act 2006, the ICA highlighted that building defects in residential apartments are costing Australians an estimated $1.3 billion annually. This financial burden is particularly affecting the one in five Victorians living in strata-titled properties. - read more
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| Potential Risks Persist Amid NSW Strata Commission Reforms Mon, 22 Dec: In a significant shift within New South Wales's strata industry, the Strata Community Association NSW has announced that strata managers will transition away from relying on insurance commissions. This change, set to be phased in from next year, will see remuneration for insurance-related work shift to separate fee arrangements. While this move aims to enhance transparency and align with consumer interests, some consumer groups have expressed concerns about potential risks that may persist. - read more
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