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ASIC Intensifies Scrutiny on Insurance Pricing and Complaints Handling

Regulator Announces New Enforcement Priorities to Safeguard Consumers

ASIC Intensifies Scrutiny on Insurance Pricing and Complaints Handling?w=400

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The Australian Securities and Investments Commission (ASIC) has unveiled its enforcement priorities for the upcoming year, placing a significant emphasis on the insurance sector.
The regulator aims to address concerns related to misleading pricing practices, claims handling, and complaints processes within the industry.

Deputy Chair Sarah Court highlighted that ASIC will focus on misleading pricing practices in the financial services sector, particularly those that make everyday costs harder for Australians. This initiative underscores ASIC's commitment to ensuring transparency and fairness in the insurance market.

In the past year, ASIC has intensified its enforcement actions, doubling the number of new investigations and nearly doubling matters filed in court. This proactive approach aims to hold insurers accountable and ensure compliance with regulatory standards.

ASIC's focus on the insurance sector is timely, given the rising premiums and increasing consumer complaints. The regulator's commitment to addressing these issues is expected to enhance consumer trust and promote a more transparent insurance market.

For freelancers and self-employed professionals, these developments are particularly relevant. Understanding the regulatory landscape and the emphasis on fair pricing and efficient claims handling can aid in making informed decisions when selecting insurance coverage. It's advisable to stay informed about these regulatory changes and consider how they may impact your insurance choices.

Published:Friday, 6th Feb 2026
Source: Paige Estritori

Please Note: If this information affects you, seek advice from a licensed professional.

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Moral Hazard:
The concept that individuals may take on more risk when they do not bear the full consequences of that risk, often relevant in insurance scenarios.