Wed, 21st Jan 2026

This Weekly Insurance News Wrap, hosted by Paige Estritori, highlights the record-breaking profitability of the Australian insurance industry in 2024, with after-tax profit reaching $6.1 billion. However, experts predict potential economic and natural challenges could impact this upward trend. US-based firm, Markel, is launching professional indemnity insurance in Australia, aiming to support the rising premiums in six key sectors. According to APRA data, costs in public liability and professional indemnity insurance are escalating, a concern especially for large businesses. Insurance broker Gallagher issued a warning to New South Wales builders regarding new obligations under the Design and Building Practitioners Act 2020 and a High Court ruling. The importance of staying updated, managing risks, and adjusting strategies in response to regulatory changes is underscored.n