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 Australian insurance stories this week: NSW CTP premiums face renewed cost pressures after reforms; Octobers east‑coast storms are now a roughly $1.1b insurance event; AFCA rules an insurer should cover a spoofed‑email payment‑redirection loss, highlighting cyber risks for SMEs and charities; and Treasury opens consultation on professional indemnity reforms while a special levy supports the Compensation Scheme of Last Resort. Listeners are encouraged to compare policies early, check sums insured and flood wording, add verification steps for payments, and review PI cover—using InsuranceOnline.com.au for free quotes and broker support.
Hello and welcome to Insurance Online News, Im Paige Estritori, and its Thursday 18 December 2025.
First, New South Wales compulsory third‑party motor scheme is showing fresh cost pressures. Premiums have edged higher this year as claim volumes rise, including more psychological injury claims, according to a parliamentary review. Regulators are being urged to keep the scheme steady while recent reforms bed in. If youre renewing car cover for family or a business fleet, compare early and make sure your policy extras still match your needs.
Meanwhile, those late‑October storms across Queensland, New South Wales and Victoria are now expected to cost about $1.1 billion in insured losses. Tens of thousands of property and motor claims have been lodged, which keeps pressure on pricing in storm‑exposed areas. Check your sum insured and excess, confirm flood and storm wording, and use our free quotes and broker support to test the market before you renew.
Next up, a notable ruling on payment‑redirection fraud. The Australian Financial Complaints Authority, or AFCA, decided an insurer should cover a business after a fraudster intercepted an overseas transfer by spoofing emails. Business email compromise remains a big risk for SMEs and charities. Put call‑back checks in place for any bank‑detail changes and consider cyber and crime cover; we can help you compare policies that include social‑engineering protection.
Finally, Treasury has opened consultation to strengthen professional indemnity insurance as a first line of defence for the Compensation Scheme of Last Resort. At the same time, a special levy of about $47 million will be collected across several financial subsectors to plug a funding shortfall. If you hold an Australian Financial Services Licence or provide regulated advice, review PI limits, exclusions and run‑off well ahead of renewal and get an expert to benchmark options.
Thats the wrap. For fast, free personal and business insurance quotes and access to independent brokers nationwide, head to insuranceonline.com.au. Im Paige Estritori—thanks for listening.
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.
Follow us!
We are a proud member of the Financial Services Online network!
Connect with us on your favourite social media platform for the latest financial news, views, tips, tricks, resources and information.
Running a restaurant in Australia comes with its own set of unique challenges and risks. From busy kitchens to bustling dining areas, every corner of your establishment holds potential liability issues. Understanding these risks and how they can affect your business is crucial for safeguarding your investment. - read more
Running a restaurant in Australia is both exciting and challenging. From crafting delightful dishes to ensuring an excellent dining experience, restaurant owners juggle multiple responsibilities daily. Amidst all these, securing adequate insurance coverage often takes a backseat, though it's crucial for the health of the business. - read more
Running a restaurant involves navigating a myriad of potential liabilities. From food safety issues to customer injuries on premises, the risks are numerous. In recent years, liability concerns have become even more pressing in the restaurant industry, as businesses face strict regulations and the potential for costly litigation. - read more
In the bustling world of hospitality, restaurant owners face a unique set of challenges that can impact their financial stability. From unexpected kitchen mishaps to customer accidents, understanding the unique risks in the hospitality industry is crucial. These risks can lead to significant financial burdens if not properly managed. - read more
In the rapidly evolving landscape of the Australian hospitality industry, artificial intelligence (AI) is emerging as a transformative force. Recent data indicates that approximately 66% of restaurant operators in Australia perceive AI and automation as beneficial to their businesses. This growing optimism underscores a significant shift towards technological integration in the sector. - read more
The Australian hospitality industry is currently grappling with significant economic challenges, leading to an unprecedented rate of business closures. Recent data reveals that 9.4% of food service and hospitality businesses have ceased operations in the past year, marking a record high for the sector. - read more
As Australia faces escalating natural hazard risks due to climate change, the insurance industry is adopting innovative solutions to address these challenges. A notable development is the increasing adoption of parametric insurance, designed to provide faster payouts and address underinsurance issues. - read more
Perth's hospitality industry is currently navigating a challenging landscape marked by escalating operational costs and evolving risks. In response, industry experts are advocating for a thorough reassessment of insurance policies to ensure businesses are adequately protected. - read more
In a significant move to support Australia's hospitality industry, Fine Food Australia has announced a partnership with the Restaurant & Catering Industry Association of Australia (R&CA). This collaboration aims to provide a unified platform for industry professionals to network, share insights, and advocate for the sector's interests. - read more
Insurance Deductible: the amount that an insured is required to contribute toward an insurance claim as stipulated in an insurance policy. Otherwise known as the "policy excess".
