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 Estritori covers four Australian insurance updates for 23 April 2026: commercial premiums in the Pacific fell about 12% in Q1; the ACCC is weighing standardised home insurance definitions with decisions expected mid‑year; extreme weather losses hit about $4.8b last year with Queensland hardest hit; and cyber claims are rising as AI-enabled scams grow even as ransom payments fall. Practical tips include comparing business policies now, keeping maintenance records, checking flood and storm wordings, and strengthening basic cyber controls before choosing cover.
Hello and welcome to Insurance Online News with Paige Estritori for Thursday, 23 April 2026.
First, some relief on business cover. Commercial insurance prices across our region fell by about 12 per cent in the March quarter, with property down around 14 per cent and casualty close to 9 per cent. Capacity is strong and insurers are competing harder, especially on new or restructured programs. If you run a business, use this window to compare policies, check your limits and deductibles, and see if a tailored structure can cut costs without cutting protection.
Next up, clearer wording may be coming to home insurance. The Australian Competition and Consumer Commission, or ACCC, is assessing an industry proposal to standardise definitions such as “wear and tear” and what counts as “reasonable steps to maintain” a property. A draft decision is due around June or July, with a final ruling likely in August or September. For households, that could mean fewer disputes and easier comparisons; in the meantime, keep records of routine maintenance and upgrades so your cover aligns with your homes condition.
Meanwhile, last years extreme weather drove about 294,000 claims and roughly $4.8 billion in insured losses, with Queensland bearing most of the cost. Storms, hail and cyclone-related damage were the big drivers, and recovery is still rolling through affected communities. Expect insurers to keep focusing on risk and resilience. If you live in a storm, flood or bushfire zone, review your sum insured, check specific flood and storm wording, and ask about mitigation options that can help manage premiums.
And cyber risk is evolving fast. New data shows ransom payments are falling, but overall cyber claims are rising as attackers use artificial intelligence to sharpen phishing, text scams and phone-based “vishing.” Business email compromise remains one of the most costly threats for small and medium businesses. Simple steps like multifactor authentication, staff training and tested backups go a long way; a right-sized cyber policy can pick up what controls dont.
Thats the wrap. For fast, free quotes and expert broker support across personal and business insurance, visit insuranceonline.com.au and compare with confidence.
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.
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Knowledgebase
Insurable Interest: A financial or other kind of interest in the insured item or person, necessary for a valid insurance contract.
