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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:

Paige covers four items for Australian professionals this week: the 1 October card surcharge ban and Westpacs lower merchant fees; the NAB outage and why SMEs need backup payment options and tighter contract wording; an AFCA decision underscoring the value of strong records when defending claims; and a new report benchmarking sole‑trader earnings to help set rates and check PI limits. Clear, practical takeaways help consultants and contractors protect cash flow and reduce dispute risk.

EPISODE 3083 | Professional Indemnity Australia Weekly Risk and Insurance News | Sun, 27th Sep 2026

1 Oct 2026 | Paige Estritori

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Read Full Transcript:

Hello and welcome to Professional Indemnity Australia Weekly Risk and Insurance News, Im Paige Estritori, and its Sunday, 27 September 2026. First up, the payments landscape shifts this week. From Tuesday, 1 October, surcharging on card payments ends, and Westpac says its cutting its flat point‑of‑sale fees to help merchants adjust. The Reserve Bank of Australia, or RBA, is also lowering the cap on most consumer credit card interchange to about zero‑point‑three per cent, while business card caps stay higher. For consultants and contractors, that means revisiting your pricing, merchant deal, and invoice terms now so costs are built in rather than added later. Next up, a reminder to plan for outages. On Wednesday, 23 September, NABs online banking and mobile app were down for hours, with some business services lagging into the evening. If one bank stalls, your cash flow shouldnt. Keep backup ways to get paid, enable alternative methods on invoices, and hold a small buffer so deliverables and supplier payments arent derailed. Clear contract wording on payment timing and service interruptions also helps head off disputes. Meanwhile, a fresh ombudsman ruling shows how fast a claim can unravel if facts dont stack up. The Australian Financial Complaints Authority, or AFCA, backed an insurer that rejected a fraudulent motor claim after evidence contradicted the story. Different product, same lesson for professionals: accurate engagement letters, job logs, and written advice matter. Good records make it far easier to defend allegations of error or misrepresentation under your professional indemnity cover. And finally, sole traders get a clearer earnings yardstick. A new report this week benchmarks income across more than a hundred occupations, from creatives to technical trades. Use it to sanity‑check your own rates, then align your professional indemnity limits with the size and risk of your typical jobs. If your average project value is rising, your sum insured and retroactive date may need a refresh. Thats it for this week. For help tailoring professional indemnity to your work—and to compare quotes quickly—head to professional-indemnity-australia.com.au. Im Paige Estritori, thanks for listening, and Ill see you next Sunday.

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