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Insurance News from Income Insurance Online

Income Insurance Online is pleased to present the latest financial news headlines.

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News items on this page are prepared by our editorial team as summaries of publicly available news reports and official announcements. See linked news sources where available. The following news items are for informational purposes only and are not independent journalism.

Insurance News

IAG's Ambitious 2030 Growth Plan: What It Means for Tradies
IAG's Ambitious 2030 Growth Plan: What It Means for Tradies
31 May 2026: Paige Estritori
Insurance Australia Group (IAG) has unveiled an ambitious strategy, aiming to achieve over $25 billion in gross written premiums by 2030. This plan, announced during their Investor Day in Sydney, focuses on expanding their customer base to more than 11 million and enhancing shareholder returns. For tradespeople across Australia, this development could have significant implications. - read more
Addressing Delays in Income Protection Insurance Payouts: What Tradies Need to Know
Addressing Delays in Income Protection Insurance Payouts: What Tradies Need to Know
31 May 2026: Paige Estritori
Recent reports indicate a 67% increase in violations of the Life Insurance Code of Practice related to timely income protection payments. This trend is concerning for tradespeople who depend on these payouts during periods of illness or injury. - read more
Regulators Call for Immediate Reforms in TPD Insurance Amid Rising Mental Health Claims
Regulators Call for Immediate Reforms in TPD Insurance Amid Rising Mental Health Claims
31 May 2026: Paige Estritori
In a recent joint roundtable, the Australian Prudential Regulation Authority (APRA) and the Australian Securities and Investments Commission (ASIC) have emphasised the pressing need for reforms in Total and Permanent Disability (TPD) insurance. The regulators highlighted that without prompt action, the sustainability of TPD insurance could be at risk, primarily due to the increasing frequency and complexity of mental health-related claims. - read more
APRA Enforces Capital Add-On and Licence Conditions on KeyInvest After Risk Management Review
APRA Enforces Capital Add-On and Licence Conditions on KeyInvest After Risk Management Review
31 May 2026: Paige Estritori
The Australian Prudential Regulation Authority (APRA) has recently imposed an additional $5.5 million capital requirement on KeyInvest Limited, a life insurance company and friendly society primarily offering funeral bonds. This decision follows an independent review that identified shortcomings in KeyInvest's risk management framework and raised concerns about the board's oversight of the insurer's long-term objectives. - read more
Consumer Advocates Challenge Proposed Changes to Mental Health Exclusions in Life Insurance Policies
Consumer Advocates Challenge Proposed Changes to Mental Health Exclusions in Life Insurance Policies
31 May 2026: Paige Estritori
Consumer advocacy groups have recently expressed strong opposition to life insurers' proposals to lift existing code restrictions on blanket exclusions for mental health coverage. This move by insurers aims to modify the Life Insurance Code of Practice to allow for broader exclusions related to mental health conditions. - read more
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Life Insurance Articles

How to Avoid Common Mistakes When Filing an Insurance Claim
How to Avoid Common Mistakes When Filing an Insurance Claim
Filing an insurance claim in Australia can be a daunting process, especially if you are not familiar with the necessary steps and requirements. Claiming insurance is crucial when you need financial support, whether due to a natural disaster, accident, or another unexpected event. - read more
Income Safety Net: How to Choose the Right Income Protection for Your Lifestyle
Income Safety Net: How to Choose the Right Income Protection for Your Lifestyle
In the face of life's unpredictable twists and turns, few things are as disconcerting as the possibility of suddenly losing your ability to earn an income due to illness. Such events are often unexpected and can have significant financial repercussions that interrupt not only your flow of daily life but also compromise your future plans. - read more
How to Compare Income Protection Insurance for Self-Employed Australians
How to Compare Income Protection Insurance for Self-Employed Australians
For self-employed Australians, the financial stability provided by consistent income is the backbone of both personal and business success. Unlike traditional employees, who might have access to sick leave or employer-sponsored disability benefits, self-employed individuals are solely responsible for their financial security in the event of illness or injury. This is where income protection insurance steps in as a crucial safeguard. - read more
5 Key Factors to Consider When Shopping for Income Protection in Australia
5 Key Factors to Consider When Shopping for Income Protection in Australia
Welcome to our comprehensive guide on securing your financial future in Australia. In a world of uncertainties, income protection insurance plays a critical role in maintaining your financial security and peace of mind. - read more
Income Protection Insurance: Understanding Waiting Periods and Benefit Periods
Income Protection Insurance: Understanding Waiting Periods and Benefit Periods
Income protection insurance is a financial product designed to support individuals in the event that they are unable to work due to illness or injury. This type of insurance provides a regular income, helping to replace a portion of lost earnings and meet daily living expenses. Virtually anyone earning an income, especially those with financial dependents or significant debts, should consider the peace of mind that income protection can offer. - read more

Knowledgebase
Elimination Period:
The time period between an injury and the receipt of benefit payments from an insurer, particularly in disability insurance.

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