Sun, 31st May 2026

In this episode, Paige Estritori of Financial Services Online covers recent weekly insurance news. The Australian commercial insurance market is softening due to the improved profitability of post-COVID key players and a global surplus of capital, leading to price competition. Consumers see increased choices and steady premiums for well-maintained properties. Mid-market businesses with sound risk management get favorable general liability insurance deals. However, increased cybercrime has led to rising costs in cyber insurance. The trucking sector faces rising premiums due to higher claims costs from increased truck crashes, expensive repairs, labor costs, and insurance fraud. APRA has finalized changes to its prudential standards focusing on longevity products such as annuities, offering more security for retirees. In partnership with ASIC and 19 insurance executives, APRA explores TPD insurance market sustainability, urging insurers to innovate. Superannuation trustees play an essential role in addressing claim trends. Visit www.financialservicesonline.com.au for more.