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Insurance News from Professional Indemnity Australia

Professional Indemnity Australia is pleased to present the latest financial news headlines.

To read an entire news item, simply click on the headline.

News items on this page are prepared by our editorial team as summaries of publicly available news reports and official announcements. See linked news sources where available. The following news items are for informational purposes only and are not independent journalism.

Insurance News

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FAAA Challenges Proposed Increases to Professional Indemnity Insurance Limits

06 Apr 2026: Paige Estritori

The Financial Advisers Association of Australia (FAAA) has recently voiced its opposition to proposed increases in professional indemnity (PI) insurance limits, cautioning that such changes could lead to significant cost burdens for financial advisers. In a submission to the Treasury's consultation on potential reforms to PI insurance within the financial services sector, the FAAA emphasised that reforms to the Compensation Scheme of Last Resort (CSLR) should take precedence over adjustments to minimum PI settings. - read more

Markel Unveils Tailored Professional Indemnity Insurance for Australian Market

06 Apr 2026: Paige Estritori

Markel, a prominent US-based specialty insurer, has announced the launch of professional indemnity (PI) insurance products specifically designed for the Australian market. This strategic move comes in response to a notable reduction in PI insurance capacity over recent years, leaving many professionals seeking reliable coverage options. - read more

Financial Services Industry Emerges as Epicentre of Professional Indemnity Claims

06 Apr 2026: Paige Estritori

The financial services sector in Australia has been identified as a focal point for professional indemnity (PI) claims, driven by heightened regulatory scrutiny and recent enforcement actions. Legal experts from Moray & Agnew Lawyers have highlighted that the Australian Securities and Investments Commission (ASIC) has initiated proceedings against investment funds such as Shield Master Trust and First Guardian, leading to prosecutions across the financial services chain. - read more

FAAA Cautions Against Higher Professional Indemnity Insurance Limits

29 Mar 2026: Paige Estritori

The Financial Advice Association of Australia (FAAA) has urged the Federal Government to reconsider any blanket increases to professional indemnity insurance (PII) requirements, expressing concerns over potential cost escalations for financial advisers. This caution comes in response to Treasury's consultation on potential reforms to PII within the financial services sector. - read more

New Professional Indemnity Insurance Available for Midwives' Intrapartum Care

29 Mar 2026: Paige Estritori

As of 1 July 2025, the Department of Health, Disability and Ageing has introduced a professional indemnity insurance (PII) product specifically designed for midwives providing intrapartum care. This development, under the Midwife Professional Indemnity Scheme (MPIS), ensures that midwives now have access to comprehensive PII coverage for all aspects of private midwifery practice. - read more

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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.