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Professional Indemnity Australia Weekly Risk and Insurance News

Each week, Professional Indemnity Australia brings a clear, plain-English wrap of the news affecting professionals and small businesses across the country. We cover industry developments, regulatory updates, notable cases, and emerging risk trends—distilling what changed, why it matters, and practical takeaways you can act on. Expect concise, trustworthy coverage tailored to consultants, contractors, and SMEs, helping you stay informed, compliant, and confident without the noise.

This Week:

This week in Australia: NSW recommits to reforming the Emergency Services Levy that currently inflates insurance premiums; commercial insurance prices keep falling, with financial and professional lines down about 11%, creating chances to refine PI cover; business email compromise continues to rise, highlighting the need for stronger controls and clarity on how cyber and PI interact; and Revolut becomes an Australian bank (ADI), adding SME banking options under the deposit guarantee. Action: review limits, excesses and exclusions, compare quotes, tighten payment security, and ensure banking changes align with proof‑of‑cover needs.

EPISODE 2478 | Professional Indemnity Australia Weekly Risk and Insurance News | Sun, 26th Jul 2026

2 Aug 2026 | Paige Estritori

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Read Full Transcript:

Hello and welcome to Professional Indemnity Australia Weekly Risk and Insurance News with me, Paige Estritori, for Sunday, 26 July 2026. First, New South Wales has renewed its push to scrap the Emergency Services Levy, or ESL, from insurance. The Treasurer signalled the reform is still on, with a shift to a property‑based model being explored. For NSW businesses, ESL currently adds a noticeable load to many premiums, estimated at around ten to thirty‑four per cent. Keep an eye on timelines and build this uncertainty into renewals so your cover stays fit for contracts without overpaying. Next up, commercial insurance prices fell again in the June quarter. Market data shows Australia led global declines, with financial and professional lines—think directors and officers and professional indemnity—down about eleven per cent on average. Competition and capacity are back. That makes now a good time to review limits, excesses and exclusions, and to compare quotes so your policy reflects todays pricing and risk. Meanwhile, business email compromise—those invoice and account‑takeover scams—keeps climbing, and new security tools are targeting the problem directly. For consultants and small firms, a single misdirected payment can turn into a client dispute that tests both cyber and professional indemnity cover. Tighten controls: enforce multi‑factor authentication, verify bank details out‑of‑band, and rehearse incident steps. Ask your broker how cyber and PI interact for your work flows so gaps dont surprise you. And finally, Revolut has secured an Australian banking licence—an ADI, or authorised deposit‑taking institution—launching business accounts with integrated cards and payments under the government deposit guarantee up to two hundred and fifty thousand dollars per account holder per bank. More competition can mean sharper features and pricing for SMEs. If youre changing banking partners, check cash‑flow tools, user permissions, and how statements integrate with your insurers or clients proof‑of‑cover requirements. Thats the wrap. For plain‑English guides and fast, tailored professional indemnity quotes, head to professional‑indemnity-australia.com.au. Im Paige Estritori—thanks for listening, and Ill see you next week.

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