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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 Australian wrap covers four developments: NSWs inquiry into introducing competition for solicitors professional indemnity insurance; NSWs move to enable decennial liability insurance for new apartments and what it means for construction professionals; Victorias pilots to cut psychosocial injuries and how that links to Respect@Work compliance; and the industry debate on expanding broker remuneration disclosure for small business. Practical tips include reviewing PI limits and contract clauses, updating workplace policies and records, and asking brokers about fees and services when comparing quotes.

EPISODE 2680 | Professional Indemnity Australia Weekly Risk and Insurance News | Sun, 16th Aug 2026

22 Aug 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, 16 August 2026. First, New South Wales is reviewing how solicitors buy professional indemnity, or PI, insurance. A parliamentary committee announced on Monday 10 August it will examine options to introduce more competition in that market. This matters because competition can influence coverage terms and pricing. If you run a law practice, keep an eye on the inquirys timetable; and for everyone else, use renewals to compare limits, excesses and exclusions with a brokers help. Meanwhile, also on 10 August, NSW passed laws to allow decennial liability insurance for new apartment buildings. Thats a defects policy designed to protect owners for about ten years. For builders, engineers and certifiers, it may shift contract insurance clauses and how risk is shared. If you work on class 2 projects, review scope, retro dates and certificates of currency so your PI aligns with what contracts now require. Over in Victoria, regulators have funded industry pilots to reduce psychosocial injuries at work. The program announced on 10 August signals stronger expectations for documented controls around workload, bullying and harassment, and it aligns with Respect at Work duties. For employers and consultants, update policies, training and reporting lines, and keep good records. Ask your broker how these exposures sit between PI and management liability, or employment practices liability, so there are no surprises at claim time. And on Thursday 13 August, a debate over broker transparency heated up, with strong views on whether small business customers should receive broader remuneration disclosure under an industry code. If changes proceed, you could see clearer fee and commission explanations when arranging cover. When comparing PI quotes, ask how your broker is paid and what services are included—claims support, contract reviews, or risk workshops—so youre comparing value, not just premium. Thats the wrap. For clear guidance and quick PI quote comparisons tailored to your work, visit professional-indemnity-australia.com.au. Im Paige Estritori—thanks for listening, and Ill catch you next week.

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.