Mon, 6th Apr 2026

In this week's Insurance News Wrap, Europ Assistance Australia secured its general insurer licence, now able to underwrite its own travel insurance products to better serve Australian travellers. The episode also discussed the rising influence of artificial intelligence (AI) in the insurance sector, with major Australian insurers like IAG, Suncorp, and QBE adopting AI technologies to enhance their services. However, the growing cost of premiums due to increased claims and the inflation rate was a key concern, pushing insurers to revisit their rates and coverage terms. Cybersecurity maintains its relevance as an issue, especially with a higher reliance on digital systems. The episode also highlighted Zurich's partnership with US cyber insurance leader Cowbell to launch PrimeOne, an AI-facilitated cyber insurance product for Australian SMEs, promising improved cyber resilience and real-time risk assessments.