Tue, 7th Apr 2026

On this week's episode of 'Insurance News Wrap,' we discuss the recent major developments in the Australian insurance industry. Europ Assistance Australia obtains a license to directly underwrite its travel insurance products, tailoring them specifically for Australian travellers. Meanwhile, Australian insurers like IAG, Suncorp, and QBE are facing challenges posed by the advent of AI tools, but also exhibiting resilience as seen with BizCover under AUBs integration of 35 AI solutions. The year 2026 witnessed rising premium affordability concerns driven chiefly by climate-related losses, inflation, and a consequent increase in claims costs. Several insurers plan to raise premiums, revise coverages, and improve risk assessments in response. We also explore the emerging landscape of cyber insurance, including Zurich and US-based Cowbell's AI-driven cyber insurance product for Australian SMEs. Tune in for these and more at Financial Services Online.n