Sat, 23rd May 2026

In this week's Weekly Insurance News Wrap for May 23rd, 2026, HESTA is slashing insurance fees by 12%, aiming to increase members' financial security. This fee reduction will benefit self-employed individuals, with an enhanced application process and waived fees during parental leave. The New South Wales government is reconsidering the Emergency Services Levy to reduce its heavy financial impact on small and medium-sized businesses. The Australian Prudential Regulation Authority is amending its standards to strengthen financial options for retirees, potentially leading to more competitively priced insurance products. Lastly, CHU Underwriting Agencies is integrating cyber protection in their strata insurance policies, offering up to $50,000 in coverage for social engineering fraud. For more updates, visit financialservicesonline.com.au.