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:
Weekly wrap for 25 September 2025: Draft laws would ban life insurers from using genetic test results, easing comparisons for consumers. ASIC launches legal action over allegedly misleading renewal comparisons, highlighting the need to scrutinise notices and shop around. AFCA backs an insurers about 60% home premium rise tied to new risk modelling and levies, showing how property‑level data can move prices. The federal minister says Australia is examining overseas flood insurance schemes to improve access and affordability for high‑risk homes and small businesses. Listeners are urged to compare policies and get expert help at insuranceonline.com.au.
Hello and welcome to Insurance Online News with Paige Estritori, its Thursday 25 September 2025.
First, life insurance. The government has released draft laws to ban insurers from using genetic test results when assessing new life cover. The aim is to remove the fear that testing could hurt your eligibility or price, with the corporate watchdog ASIC to enforce the rules. Consultation is open until mid‑October. If youve been putting off life cover, this points to simpler comparisons and fewer surprises. Get quotes side by side and check the fine print so the cover matches your needs.
Next up, a reminder to read renewals closely. ASIC, the Australian Securities and Investments Commission, has taken court action against a major insurer over renewal notices that allegedly distorted the comparison to last years premium. The issue spans several product types and multiple years. Why it matters: renewal figures can be messy, especially if discounts changed. Dont auto‑renew. Ask for like‑for‑like, compare policies online, and get an expert to check the sums before you decide.
Meanwhile, premiums are getting more granular. The Australian Financial Complaints Authority, or AFCA, this week upheld an insurers roughly 60 per cent home premium rise after it moved to new property‑level risk software and accounted for levies and claims costs. That shows location and building specifics can swing pricing a lot. If your premium jumps, ask your insurer which risk inputs changed, review your excess and safety measures, and compare alternatives to avoid underinsurance.
And on disaster affordability, the Financial Services Minister says Australia is assessing overseas flood insurance models, like the UKs Flood Re. The goal is to help households and small businesses in high‑risk areas that are finding cover harder to get. With more detailed risk pricing, mitigation will matter even more. If youre in a flood‑exposed area, document upgrades, confirm your flood definitions, and get multiple quotes so youre clear on whats covered and what isnt.
Thats the wrap. For free, fast personal and business insurance quotes and Australia‑wide broker support, head to insuranceonline.com.au. Im Paige Estritori—thanks for listening, and talk to you next week.
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