ASIC Announces 2026 Enforcement Priorities for the Insurance Sector

ASIC Deputy Chair Sarah Court highlighted the importance of transparent pricing, especially in the current environment where premiums are rising, and insurance is becoming increasingly out of reach for some consumers. The regulator plans to scrutinise misleading pricing practices that make everyday costs harder for Australians, ensuring that insurers deal fairly and in good faith with their customers.

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 underscores the regulator's commitment to protecting consumers and upholding the integrity of the financial services sector.

For freelancers and self-employed professionals, these developments are particularly relevant. The focus on transparent pricing and fair claims handling aligns with the need for affordable and comprehensive insurance coverage tailored to the unique risks faced by this demographic. As ASIC continues to enforce these priorities, it is expected that the insurance industry will adapt to meet regulatory expectations, ultimately benefiting consumers through improved practices and greater transparency.