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 breaks down four stories for 16 April 2026: new laws banning life insurers from using predictive genetic test results; thousands of claims from Cyclone Narelle and northern floods plus January bushfire losses pressuring premiums; NSWs regulator imposing special licence conditions on NRMA Insurance over CTP issues; and ASICs new dashboard revealing company‑specific complaint data. Listeners are urged to review cover, check CTP details, and use complaint insights when comparing policies, with brokers ready to help via InsuranceOnline.
Welcome to Insurance Online News, Im Paige Estritori, and its 16 April 2026.
First, a major shift for life cover. Parliament has passed laws banning life insurers from using predictive genetic test results in underwriting. The ban will apply to new policies from six months after the law takes effect, with the Australian Securities and Investments Commission, or ASIC, enforcing penalties for non‑compliance. If youve delayed life, income protection or TPD because of DNA results, this change means you can compare options with fresh confidence and get quotes that focus on your needs, not your genes.
Next up, severe weather is still driving claims. More than five and a half thousand claims have been lodged from Cyclone Narelle and northern flooding across Western Australia, Queensland and the Northern Territory since early March. And Januarys Victorian bushfires are now estimated to have caused about eight hundred and ten million dollars in insured losses. Expect continued pressure on premiums in higher‑risk postcodes. Take a moment to check your sum insured, flood and temporary accommodation limits, and—if you run a business—your interruption and equipment cover. We can line up fast, side‑by‑side quotes and broker support to keep you properly covered.
Meanwhile, in motor insurance, NSWs State Insurance Regulatory Authority has imposed special licence conditions on NRMA Insurance over failures in the compulsory third party, or CTP, scheme. Issues included unapproved premiums, missed discounts and inaccurate refunds. The insurer is implementing independent reviews and system fixes. For motorists and fleet managers, its a good prompt to double‑check your CTP renewal details, any discounts and refunds, and to query anything that doesnt look right.
And finally, complaints transparency just improved. ASIC has launched an interactive dashboard that, for the first time, publishes company‑specific internal dispute resolution data. Around a third of 2023–24 complaints were about general insurance. Use that insight, alongside cover and price, when you compare policies. If youre short on time, we can help interpret the data and match you with brokers and policies that fit your situation.
Thats all for this week. For free, fast personal and business insurance quotes and expert help from independent brokers, head to insuranceonline.com.au.
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, resources and information.
AustralianSuper, one of Australia's largest superannuation funds, has announced a significant change to its default income protection insurance. Effective from 28 February 2026, the fund will reduce the default income protection cover to $1,000 per month. This adjustment aims to align insurance coverage with members' actual income levels and prevent over-insurance, which can erode retirement savings. - read more
CareSuper has announced an enhancement to its income protection insurance offerings. Starting 1 April 2026, members can apply for income protection cover up to 87% of their current income, including up to 12% super contributions. This is an increase from the previous limit of 85% of income, which included up to 10% super contributions. - read more
The Australian Prudential Regulation Authority (APRA) has recently mandated an additional capital requirement of $2 million for Sovereign Insurance Australia Pty Ltd. This directive is part of APRA's ongoing efforts to bolster the financial stability and resilience of insurers operating within Australia. - read more
The Australian Prudential Regulation Authority (APRA) has granted a new general insurance licence to Europ Assistance Australia, marking the company's official entry into the Australian insurance market. This development introduces additional competition and diversity within the sector. - read more
The Australian Prudential Regulation Authority (APRA) has released a landmark report emphasising the urgent need for ambitious action and investment to shield communities from the escalating impacts of extreme weather events. The Insurance Climate Vulnerability Assessment (ICVA) serves as a stress test, highlighting risks that are already materialising and supporting the insurance industry's calls for immediate mitigation efforts. - read more
Income protection is an integral part of maintaining your financial security, especially in the event that unforeseen illnesses or injuries prevent you from working. Enabling you to receive a percentage of your regular income, this type of insurance provides a safety net, ensuring that you can continue to cover your living expenses and financial obligations whilst recovering. - read more
Financial protection is an essential aspect of sound financial planning. It ensures that you and your family are safeguarded against unexpected events that could lead to financial hardship. Two common types of financial protection are income protection insurance and life insurance. - read more
Have you ever thought about how you would manage financially if you couldn't work due to an illness or injury? Income protection insurance is designed to replace a significant portion of your income if you find yourself unable to earn for an extended period. It's an essential safety net, providing peace of mind and financial stability during times of uncertainty. - read more
Financial security is crucial in today's unpredictable world, where unexpected events can disrupt the stability and comfort of our daily lives. For Australians, protecting one's income and lifestyle from unforeseen circumstances is a key component of personal finance. - read more
Income protection insurance is a safeguard that provides individuals with financial stability in the event they are unable to work due to illness or injury. This type of insurance typically replaces a significant percentage of the insured's income, ensuring that their financial commitments can still be met during periods when they cannot earn an income through employment. - read more
Knowledgebase
Deductible: The amount you must pay out-of-pocket for expenses before your insurance company covers the remaining costs.
