Welcome to the Insurance Online News podcast with your host, Paige Estritori, where we deliver the latest and most significant news from the world of insurance in Australia. Our dedicated team works tirelessly to bring you the freshest updates, focusing on the stories that matter the most to both Australian businesses and individual consumers over the past week.
Through meticulous research, we transform these developments into original content that not only keeps you informed but also offers deep insights into the insurance landscape as it stands today. Our podcast distills these crucial updates into a format that's both succinct and captivating. For professionals within the insurance realm or personal consumers keen on keeping up with insurance trends, look no further. Paige Estritori brings you all the essential information daily, making our podcast the ultimate destination for trustworthy and impactful insurance news.
This Week:
Paige covers four stories for 19 March 2026: Queensland floods exceed 2,000 claims and a Bundaberg levee push as a new cyclone risk looms; AFCA expands powers from 12 March to include receiving banks in scam cases and to name non‑compliant firms; two AFCA rulings reinforce customer rights on storm and home damage claims; and insurers with government release resilience investment principles as Cyclone Alfreds final insured loss hits about $1.9b. Takeaways: check flood cover, lodge early, strengthen cyber and fraud protection, document claims, and ask brokers about risk‑reduction upgrades and policy options.
Hello and welcome to Insurance Online News with me, Paige Estritori, for Thursday, 19 March 2026.
First up, Queenslands floods have triggered more than two thousand claims. The industry says many losses in Bundaberg could have been avoided if the long‑planned East levee was in place, and theres a fresh cyclone risk flagged for the states north. If youre affected, document damage, lodge early, and check whether flood is listed as a covered event on your home or business policy. If youre unsure, compare options and get guidance from an independent broker so youre not underinsured next time.
Meanwhile, the Australian Financial Complaints Authority, or AFCA, has widened its powers from 12 March. It can now look at the role of receiving banks in scam cases, and it can publish the names of firms that dont comply with its determinations. Thats a real nudge for better outcomes. For households and small businesses, move fast if money goes missing—contact your bank, gather records, and escalate to AFCA if needed. And consider whether your cyber and fraud protections—personal or SME—are up to date.
On claims handling, two new AFCA decisions matter for customers. One requires an insurer to honour a home damage claim it first approved and then tried to reverse, including reinstating the renewal and paying modest compensation. Another tells an insurer to accept a vulnerable customers storm‑related ceiling collapse. The lesson is simple: keep photos, reports and timelines, and dont hesitate to challenge a decision. A broker can help frame a dispute and steer you through next steps.
And finally, insurers and the federal government have agreed guiding principles to target resilience spending—think levees, home upgrades and community defences. This comes as the final loss estimate for last years Ex‑Tropical Cyclone Alfred landed at about $1.9 billion. Risk reduction wont change premiums overnight, but upgrades can cut exposure and sometimes earn discounts. Ask your broker what improvements your home or business could make and how that might influence coverage and excesses.
Thats it for today. For free quotes, easy comparisons and expert broker support across personal and business insurance, head to insuranceonline.com.au. Thanks for listening, Im Paige Estritori. Stay safe, and Ill catch you next week.
The information on this website is general in nature and does not take into account your objectives, financial situation, or needs. Consider seeking personal advice from a licensed adviser before acting on any information.
Follow us!
We are a proud member of the Financial Services Online network!
Connect with us on your favourite social media platform for the latest financial news, views, resources and information.
Embarking on a journey with your caravan is an incomparable experience, offering a unique blend of adventure, freedom, and the comfort of a home on wheels. However, it’s essential to recognize that just like any significant investment, your caravan needs to be protected. That's where choosing the right caravan insurance becomes not just a consideration, but a necessity. - read more
Caravan insurance is designed to protect your financial interests when you own a caravan. Just like any vehicle or property insurance, it provides coverage for damage, theft, or accidents. Given the unpredictable nature of travel and the investment involved in a caravan, having the right insurance is crucial for peace of mind. - read more
Caravanning has become a favorite pastime for many Australians, offering a unique sense of freedom and the thrill of exploring the vast beauty of the country. The wanderlust associated with hitting the road and setting up camp wherever you choose speaks to a growing number of adventure-seekers. - read more
Welcome, Australian caravan enthusiasts! Embarking on road trips and enjoying the great outdoors is an integral part of the Aussie lifestyle. Whether you're a seasoned traveller or a newcomer to the caravan community, ensuring your home on wheels is fully covered should be top of mind. - read more
Caravan insurance is an important investment for anyone who owns a caravan. It provides financial protection against loss, damage, or theft of your caravan. While it's possible to purchase caravan insurance directly from an insurer, in this article, we explore why you should use a specialist caravan insurance broker instead of going direct - and how to choose the right one for your needs. - read more
Australian health insurance policyholders are set to experience a significant increase in their premiums, with an average rise of 4.41% scheduled to take effect from April 1, 2026. This adjustment marks the most substantial hike since 2017, when premiums rose by 4.84%. - read more
Recent industry reports indicate that Australian insurers are grappling with escalating claims costs and broader economic pressures, leading to adjustments in premium rates across various sectors. This trend is particularly significant for consultants and professionals who rely on comprehensive insurance coverage to mitigate risks associated with their services. - read more
Western Australia's transport industry is urging the state government to implement more stringent heavy vehicle licensing requirements, aiming to bolster road safety and ensure drivers possess adequate experience. This initiative follows South Australia's recent reforms, which introduced tougher conditions for truck drivers after a tragic triple fatality in 2024. - read more
Aon plc, a leading global professional services firm, has released its 2026 Climate and Catastrophe Insight report, shedding light on the escalating climate-related risks facing Australian businesses. The report indicates that insured catastrophe losses in Australia totaled an estimated US$2.9 billion in 2025, underscoring the growing financial impact of climate events on the insurance sector. - read more
As we progress through 2026, Australia's insurance industry is grappling with significant challenges that are reshaping the landscape for both insurers and policyholders. Two primary concerns have emerged at the forefront: the affordability of premiums and the escalating threat of cyber incidents. - read more
Subrogation: An insurance carrier may reserve the "right of subrogation" in the event of a loss. This means that the company may choose to take action to recover the amount of a claim paid to a covered insured if the loss was caused by a third party.
