Insurance News from Professional Indemnity Australia

The Australian Prudential Regulation Authority (APRA) has released its latest National Claims and Policies Database (NCPD) statistics, highlighting a significant increase in professional indemnity (PI) insurance premiums. Since 2015, these premiums have risen by 27%, posing financial challenges for businesses across the nation. - read more

Australia's construction industry is experiencing unprecedented growth, leading to a heightened demand for professional indemnity (PI) insurance specialists. This surge is driven by a combination of large-scale infrastructure projects, evolving contractual complexities, and new regulatory requirements. - read more

The professional indemnity (PI) insurance market is undergoing notable shifts, presenting both opportunities and challenges for various sectors. Recent trends indicate a softening market, with premium reductions of approximately 5–10% available for low-risk profiles, particularly within financial services. This development offers financial relief for businesses with strong compliance records and minimal claims histories. - read more