Sun, 3rd May 2026

In this episode of the Weekly Insurance News Wrap, Paige Estritori discusses key industry developments. She highlights APRA's emphasis on insurers' need to increase AI risk oversight due to concerns about cybersecurity vulnerabilities and reliance on single AI vendors. Estritori then talks about the surge in strata property insurance premiums, attributing this to severe weather events, surging construction costs, and decreased competition. She suggests proactive risk management and informed decision-making as remedies. The significant drop in commercial insurance rates in Q1 2026 is also discussed, with repeated mention of the ongoing potential for businesses to review their insurance portfolios. The episode concludes with promising news for Australia's renewable energy sector with anticipated reductions in premiums for large-scale projects. Listen in for these topics and more on Website: Financial Services Online.