Wed, 4th Feb 2026

In this episode of Financial Services Online's Weekly Insurance News Wrap, Paige Estritori explores the recent developments in the Australian insurance sector. After the Insurance Australia Group reported a significant 91% increase in net profit, businesses are warned of continuing insurance premium rises due to factors like inflation, climate change and increasing costs. Especially hard-hit are businesses in the Australian Capital Territory who pay higher insurance premiums than their counterparts in New South Wales. Despite massive profits for insurance companies, there is growing criticism about premium increases and a strong call for transparency in calculations. Suggestions for businesses include regular reviews of insurance policies and strengthening risk management strategies. Factors contributing to the premium hikes include increased weather-related claims although there is significant advocacy for fair pricing amid the financial strain.n