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 insurance stories for Australia this week: softening commercial premiums offering savings and better terms for many business lines; spring storm losses now over $4 billion with Octobers storms at about $1.5 billion, prompting checks on sums insured and mitigation; Sarah Court to chair ASIC, signalling ongoing enforcement focus on scams, disclosures and claims; and an AFCA ruling confirming termite damage linked to long‑term moisture isnt covered, reinforcing maintenance and prompt reporting. The episode encourages listeners to compare cover and seek broker support at insuranceonline.com.au.
Hello and welcome to Insurance Online News, Im Paige Estritori, and its Thursday, 5 February 2026.
First up, commercial insurance prices eased late last year. Brokers report premiums fell by as much as about twenty per cent in the December quarter as market capacity improved and large losses stayed relatively low. Property, directors and officers, cyber and liability saw more competition, though high natural‑catastrophe exposures still face tougher terms. If you run a business, this is a good moment to compare cover, review limits and retentions, and see if broader wording is now affordable.
Meanwhile, Octobers east‑coast storms are now estimated to cost about $1.5 billion, and springs severe storms together have pushed insured payouts past $4 billion. Rising exposures from cladding, roofing and more rooftop solar are adding to damage. For households and SMEs, check that sums insured are up to date, confirm hail and flood options, and consider simple mitigation like roof and gutter maintenance to keep claims smooth.
Regulatory news next. Sarah Court will become chair of ASIC, the Australian Securities and Investments Commission, when Joe Longos term ends in May. She has led major enforcement on misconduct and says priorities include scams, small businesses, climate disclosures and greenwashing. Expect continued scrutiny of pricing promises, product design and claims handling. Keep records tidy and disclosure clear, and lean on a broker if a dispute arises.
And an AFCA decision is a timely reminder on claims. AFCA, the Australian Financial Complaints Authority, rejected an attempt to link termite damage to an older storm claim, finding the loss was due to long‑term moisture and not the insured event. Most policies exclude gradual damage and pests. Keep up maintenance, report issues promptly, and get expert reports early so your claim rests on solid evidence.
Thats the wrap for this week. For fast, free quotes and Australia‑wide broker support, head to insuranceonline.com.au. Im Paige Estritori—thanks for listening, and talk to you next week.
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.
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