Wed, 29th Apr 2026

In this edition of the Daily Financial Services News Wrap, Paige Estritori discusses key challenges in Australia's insurance sector, such as premium affordability, rising claims costs, and tech fraud. The urgency for self-employed professionals and freelancers to be aware of changes in the sector is stressed, despite the decline in insurer profits as reported by KPMG's 2025 review. Personal trainers are particularly impacted by extreme weather event-related claim costs. In a legislative milestone, life insurance companies are now barred from using genetic testing results in underwriting decisions, preventing potential discrimination. In finance news, a historical rise in investor refinancing in Australia was observed in late 2025, with the total value reaching $10.5 billion. Investors are encouraged to scrutinize loan terms and implications amidst competitive interest rates, growing property values, and relaxed lending policies.n