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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 weeks wrap covers rising scrutiny of general advice and an ASIC interim ban, a regulator–industry roundtable on affordability and complaint handling, a sanctions enforcement probe highlighting AML exposure for professional services, and storms in Queensland and Victoria adding pressure that can trigger disputes. Takeaways: tighten engagement letters and disclaimers, keep thorough records, clarify who handles sanctions checks, and confirm your PI cover and limits still fit your work. Visit professional-indemnity-australia.com.au for tailored quotes.

EPISODE 850 | Professional Indemnity Australia Weekly Risk and Insurance News | Sun, 2nd Nov 2025

14 Nov 2025 | Paige Estritori

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Read Full Transcript:

Hello and welcome to Professional Indemnity Australia Weekly Risk and Insurance News, Im Paige Estritori, its Sunday 2 November 2025. First up, general advice is under the microscope. A new industry poll this week questioned whether general advice is becoming a reputational time bomb, and at the same time ASIC — thats the Australian Securities and Investments Commission — secured an interim court order against an adviser over alleged misconduct. For consultants and contractors, the message is clear: be precise about the scope of what you say, use tight engagement letters, and check your professional indemnity policy responds to claims arising from guidance, marketing content and disclaimers. Next up, insurers met with regulators at weeks end to talk affordability, conduct, and complaints handling. That means more focus on how customers are treated and how quickly issues are resolved. If you run a small firm, keep good file notes, set expectations in writing, and make sure your PI cover includes legal defence costs so youre not carrying that burden alone if a complaint escalates. Meanwhile, compliance is biting beyond advice. Police searched an insurance firms offices over suspected breaches of Russia sanctions. Sanctions and AML — anti‑money laundering — rules can touch many professional services through vendor checks and payment flows. Map who in your workflow is responsible for screening, document it, and confirm your PI policy includes cover for unintentional breaches and regulatory investigation costs where available. And finally, storms in Queensland and Victoria drove about sixteen thousand claims by mid‑week. That pressure can slow repairs and projects, and disputes can follow when timelines slip. If youre advising on recovery work or managing contractors, keep change logs and variations crystal‑clear, and ensure your PI sum insured and excess still fit todays risks. Thats it for this week. For simple, tailored protection and fast quotes, head to professional-indemnity-australia.com.au and get your cover sorted today.

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.